All Forum Posts by: Celia Lumbroso

Hi Biggerpockets Community, 

This question is geared towards lenders, brokers, and investors. 

I wanted to start an open discussion about what markets you would target in 2024 for fix & flips.   Please feel free to disagree or agree. 

Here are the markets I would target for flips: 

-Spokane, Washington 

-Louisville, Kentucky

-Detroit, Michigan

-Akron, Ohio

-Dayton, Ohio 

Which markets would you target? 

Hi @Franco Irakoze- I work for a private lender and have quoted numerous vacant land deals. Vacant land is a sensitive asset that most lenders do not want to get involved with but we can help. 

Please keep in mind when you do identify a lender that will take on vacant land- they will price the deal at a higher interest rate and will keep a low LTV to minimize their risk.

Hi @Kelvin Ng- some lenders lend directly to personal name but this is based on by state/property type. 

I strongly suggest you create an LLC for each investment property you have that way if the loan goes sideways and they have to foreclose, they can only go after the specific asset and not your whole portfolio.

Hi @Daniel Seo, I am originally from Washington and have family in Tacoma greater area, specifically American lake area. 

Would like to help you out.  I can connect you with a broker in the surrounding area that can provide valuable insight and advice on your fix & flip project.  I also know of a developer that can be helpful as well. 

Let me know if I can help. 

Hi @Karim Baker- for a full gut rehab I would estimate you would be spending at least 350K.  More than happy to discuss this in further detail if you have availability. 

Hi @Venkat Ravuri- I agree with Jake Baker's point.  The local meetups tab on Biggerpockets website is a valuable tool to utilize.  I work for a lender and use these meetups to introduce our loan product to investors and understand their needs. 

Alternatively, you can also attend real estate conferences and meet other like-minded individuals that are passionate about real estate. 

Visit the Colorado entity website and look at steps to setup an LLC. This should not take more than a few weeks to formulate.

I am referring to DSCR loans. You're really going to argue over the internet?

Hi @Terence Morgan happy to discuss further in depth. 

As Shawn it all depends on the asset and the location. 

A few questions to consider when estimating costs:

-Will it be a full gut or just a cosmetic remodel? 

-How many draws will you take? Lenders usually allow up to 8 draws. 

-How much liquidity do you have available to contribute? 

-How many contractors do you know? If only know (1) contractor, expand your network and get multiple estimates on pricing for construction 

Hi @Jesus Diaz. 

I would strongly suggest utilizing the Local Meetups tab on the BiggerPockets website.  You can filter by city etc. 

Simply go to, Build your Team Tab, then choose Local Meetups. 

Another source of way to connect with others is real estate conferences.  Get your name out there.