All Forum Posts by: Robert Freeborn

@Boris Salman

Highly recommend HomeSmart. That’s where I hang my license. It’s been awesome.

Talk with @lisa Kennedy. She is the broker I use and can get you going with Civic and a few others.

If you haven’t already, look at Civic Capital. 1 year loan. 10-15% down. 90% of rehab. 3-4 points. 9-11% interest I believe. But, here’s the thing, 1 head loans with no penalty for selling sooner. And extensions are 1 point for 6 mo the. They also have longer programs and interest only rental unit programs.

Currently using them for a deal in Fairhaven. The 90% rehab takes some getting used to, but the rest is awesome.

@Nathan Dobbins

You bet. It looks like they use some sort of algorithm to calculate rehab based off the arv. Problem is, at least in my area, the appraisals are DRASTICALLY lower than market. Not to mention you can’t expect a formula to generate an accurate rehab budget site unseen.

@Justin Delahoyde

Great questions Justin. I’d love to find out more too. How long have you been in the area? Do you do flips, or buy and holds?

@Nathan Snipes

Welcome! A RE related field is a huge lead in. What sort of things do you want to do? Appraisals? Inspections? Loans? Becoming an agent?

What are you passionate about ?

@Nathan Dobbins

I just looked up my zip on happy investors.

All the houses I saw we’re on the mls.

I have no idea how they mine their data, but I’ve seen many of those properties and I know that MOST of the numbers they gave were wrong.

One in particular said it needed 17k of rehab... try 100k as a seasoned contractor, 120k+ if you hire a GV. And that includes the 30k needed for a new deck.

I’d be very, very cautious about these sites.

@Nick Zito I love working with investors in my area, even those who make low balls. Why? Because and investor will buy and sell 2+ times a year. A homeowner, 1 every 4-7 years, and often with new agents every time.

With some recent clients I spent 9+ hours for 3 weekends in a row driving around MULTIPLE counties. I put hundreds of miles on my car, and will gladly do it again. Why? Because I will get much more business out of them then I ever will from a homeowner.

In the end, it’s still a numbers game. As some others have said, I’m not afraid of the lowballs. But I do want a couple things. 1) evidence to back up that lowball. 2) confidence you can close on it. 3) to earn their repeat business for listing it on the sale side and buying the next deal.

I know that, if I prove myself to my clients and we work well together, that it will be a profitable relationship for years to come. So I’m willing to do my part to make that happen.

@Ned Carey

Thanks Ned! If I do I’ll try to remember to give you some feedback.

@Bill Schrimpf lol. Once I do 20+ homes a year, maybe. I think my wife would kill me if I did though.