All Forum Posts by: Grant Greene

You're a fix-n-flipper, and you're successful.  The only thing keeping you from acquiring another property is you're waiting for your current project to sell.  Another downside to it is you have to come up with 25-30% down to acquire a property, and then you have to foot the bill for all the renovation costs - that's why you have to wait for the flip before you can acquire and get started on another project.  Not any longer. 

For an experienced fix-n-flipper, you may have the ability to acquire the property for 5-10% down and have all the renovation costs financed.  Let's use some real numbers from a friend's project that was recently completed - she used a hard-money lender and went the traditional route of 25% down on the property and footed the bill on the reno costs.

• The property cost $320K - she had to come up with $80K out of pocket
• The renovation costs were $120K - all out of her pocket
• All told, she had to tie up $200K until the project was completed and sold

Had she gone with this new way, she could have acquired the $320K property for $32K (down) and had ALL $120K in renovation costs completely financed.  Keeping it simple, what would you rather do: tie up $200,000 or $32,000?  You don't have to answer that. 

The financing aspect is just PART of what makes this new way so advantageous.  Let me throw out a couple of other features: no income qualification (yes, you read that correctly), no pre-payment penalty, ability to run multiple projects for the same amount as running one project in the traditional manner, lower interest rates, and so on.  

This is only for non-owner occupied projects starting at SFRs and going up to 50-unit properties, and it's available in all states but ID, UT, NV, ND, and VT.  

I'll leave you with this thought: with the way this financing is designed, if you had $100K in liquid assets, you could borrow up to $300K (and higher depending on experience) to use on one project or multiple projects.  In the traditional way, how far is $100K going to get you (and how long do you have to tie it up and preclude yourself from getting another project)?  This is revolutionary!

Welcome to BP! Whether you have the cash to finance these projects yourself or you find a hard-money lender to help you with the costs, we have a new alternative that's not only better than cash or cheaper than hard money, it enables you to do multiple projects at one time for the same amount of cash or less. It's seriously revolutionary, I promise you. Give me a call - I'd love to sit down with you and go over the advantages of this program. 

Thanks, @Wes Blackwell! Please remember, @Preston Wengert, that the interest on a HELOC is no longer deductible. Even if you currently have a HELOC, the 2018 tax plan removed that deduction - there's no grandfathering. Please let me know if we can help you. Thanks!

I'm sure I'm probably staring right at it, but could you provide an address? :)

Good morning, Ian. The Arizona market has been very good for investors - we work with a lot of them in helping find and design from financing options that maximize their cash flow. We would be honored if you'd allow us to help you, too.

Just want to start a headcount on who will be attending.  It's open to anyone who's even mildly interested, so come on out and bring a friend or twenty. 

Good afternoon, @Marco G Polo! We try to hold the meeting on the first Wednesday of the month - usually around 6:00 p.m. to allow anyone who has a commitment with another job time to get to our meeting. We would love to have you attend our meeting in September - bring a friend or twelve. :) 

We'll be holding our monthly informal meeting on Wednesday, August 2, 2107 from 6:00 pm to 7:00 pm. Fidelity National Title is providing the meeting space - thank you - and we'll be having a wholesaler come in to speak with us about opportunities for members to grow their property portfolios.  Please RSVP to [email protected]. Thank you!

@Armando Raygoza, I had one other idea: ask the agent to take a photo of both meters, and send/bring the photo to an electrician and ask, point blank, "If this duplex looks to have two separate meters, why would SRP say there's only one meter?" The answer to that question could tell you exactly what you need to do next.  

@Armando Raygoza, if SRP is only showing one meter, I'd go with their determination - the assessor and all other govt offices are going to take SRP's word over anyone else's. I'm not saying the agent is lying - it's very possible that he/she has been told there are two meters and hasn't verified or has seen two meters but one doesn't work any more (stranger things have happened). I would call an electrician and ask him/her to give you a ballpark on the cost.  The last I heard, it's not cheap, so knowing an estimate might help you decide how you want to proceed.