All Forum Posts by: Garreton Smith

Flip number 3 in the books! Renovations done and it’s finally listed. This project was special to me because I ran the construction site myself with my fathers supervision (He’s a GC with a company in New York) working alongside my father and his crew was eye opening! So many lessons learned and hacks picked up for the next project.

Location: Bronx, NY

Some numbers below

Purchase: 405K

Rehab: Under 100K

Listed for: $650K

Finance: Hard Money

Investors, what interest rates are you seeing for commercial bridge debt? Specifically multi family 1-2 year terms. 

Hey BP Fam, 

I have a fix and flip in the Bronx, NY looking for a private lender to bring the purchase price and rehab and looking to do a 10% interest-only loan. The deal is a home run, I have an executive summary, appraisal, title, and scope of work ready. My father's construction company (30 years + experience) will be doing the renovation. If you know anyone looking to deploy capital with a quick return let's connect. A breakdown will be given to any interested party. The lender will take the first position lien, backed by the hard asset. 

Projected timeline 6 months or less

Hello BP Fam, 

I have a 5 unit building in Albany, NY that I'm seeking private money for, I need to refi out of my current hard money loan. Looking to go with private money over another lender.  Numbers are listed below 

PP-  235K

Rehab- 260K

Investment amount 500K

ARV- 650K

The terms I'm looking for are between 6-7% Interest only for 1 year.  If partnership we can discuss terms. The asset is a great hold in a wonderful neighborhood. Let's connect. 

Hello BP Fam, 

Excited to share my LOI was accepted for a 70 unit in Alabama looking for an equity partner. Let's connect and network!

Still shopping around for funds. @Jeff G.

Hey BP Fam, 

I’m looking for private money to get me to the finish line with one of my rehabs. Property is located in Albany, NY. We ran into some unexpected fixers. Lenders rates were extremely high, figured I’d try on my luck here. Looking to give favorable returns. I’m experienced my track record speaks for itself not to mention my father with 30 + years of experience as a contractor. Private money would be a second lien on the property. Looking for funding asap. Let’s connect for further details. Thanks 

Hey BP Fam, 

Currently in a really tight situation with one of my projects and could use some advice. One of my projects that was supposed to be a gut cosmetic job has turned into a foundation nightmare. I need extra funds to get this property to the finish line I've been delayed long enough. The lender refuses to lend additional, saying it's not in their practice to reopen a loan. Any tips on how I can get this done has anyone been in this situation? Personal funds aren't an option because the amount is significant. Looking forward to any advice or recommendations. Thanks

@Dustin Allen Hey Dustin I tried that, I even told them I can send over a scope of work from my contractor. They did not approve. It's backward because the appraiser said he'll determine the current value by subtracting the work that needs to be done. So we are basically doing the same thing.