All Forum Posts by: Garreton Smith

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. 

Hey BP Fam, 

I have an off-market 30 unit opportunity in Albany, NY. The property is currently underperforming and can be repositioned. The property is currently cash flowing. The value-add is the cosmetic fixtures to each unit and some plumbing/ roofing upgrades. I have this opportunity and I'm looking for an equity partner to help fund this deal. I will control the day-day operations I have contractors, architects, engineers, and property management in Albany, NY already. A great BRRR opportunity, I can share exact details. Let's connect

PP- 2.4M (Nego)

Construction- 650K-700K

Rents- Current 600-900 

Market rents- 1000-1200

Hey @Jonathan Greene my offer is way below their asking, I'm assuming that's why they want the appraised value of the property. Their listing price is close to what it would sell fixed up. The asking price isn't realistic. 

 Hey Cameron, 

Definitely some great questions to ask the tenants! Thanks for your feedback. Are you in the MF space?