All Forum Posts by: Dave Snider

John,  Can you email me more details at [email protected]?

Thanks,

Dave

Looking for financing on solid rehab opportunity in Bulter Tarkington, Indianapolis.   Here is overview...

ARV value $396,000 (using $150/sq ft x 2640)

Rehab budget approx $120k

Purchase approx $190k.

Holding cost, excluding financing, approx $450/month.   

Total costs, with estimated financing $326,000.   I'm looking for $140k - $200k in funds.   My credit score is around 782, will pay 10-12% annualized on funds.   Please let me know if you are interested.   Thanks,  Dave

Currently seeking to acquire a property in Indianapolis, considering the following areas: Glendale, Castleton, Broad Ripple, SoBro, Irvington, Butler-Tarkginton, Carmel, Fishers...good neighborhoods. ARV target range is $200k - $400k. Will be cash for smaller projects, I have financing options for larger projects. To see my last two projects, there are photo links on my BP profile page. Thanks, Dave

Hello BP colleagues...I think I am going to try to one of their programs - 11% refi/home equity loan on property I am rehabbing.   It's 11%, plus a couple points and setup fee.  Not cheap but gets me from point A to point B more quickly.   I'll let everyone know how the experience goes.

Thanks,

Dave

Address is 5050 Fall Creek Pkwy, 46220, paid $155k cash, closed yesterday.   I would like to finance the rehab, which will be approx $60k, will pay 8-10% annualized.   Rehab will start 4/21, project should be complete and listed by 6/30.    Please let me know if you need additional information.

Thanks,

Dave

Hi everybody,

I'm seeking funding for the rehab portion of a new project. Yesterday, I closed on a 4BR home in Washington Township School district, Indianapolis, solid upside potential. I fully own the property (cash transaction) but I'm seeking $60k in rehab funding. Home purchase was $155k (appraised at 165k), ARV estimates through comps and experienced realtors are ranging from 270k - 300k. If interested, please let me know.

Thank you,

Dave

Thanks Bhekizwe - I appreciate the kind words!

Dave

Hello BP Colleagues,

I admit that I don't contribute nearly as much as I read so I though I'd share some before and after photos of my Michigan Street project that just closed.  I made a tidy profit but could have done better if I would have not skipped one important step - a formal inspection.   My GC talked me out of an inspection being completed by a professional inspector since "he can do the same thing."   Well, he missed two costly fixes;  broken sewer line and exposed knob and tube wiring in attic (which prohibits installation of insulation).   Knowing this, I would have requested to have these fixed or for lower purchase price.   Lesson learned (or reinforced) is to always have a THOROUGH inspection done.   

Anyway, here are the rough numbers and before/after pics:

Purchase price: $45k

Rehab, about $56k  (including sewer and electrical fixes)

Holding costs (cash deal): $2200

Closing Costs: $3500

Real Estate Commission: $9,800

Sales Price: $140,000

Profit:  Approx $23k

Before rehab photos:

https://www.flickr.com/photos/128074476@N08/sets/72157649494695016/

After Rehab photos:

https://www.redfin.com/IN/Indianapolis/5210-E-Michigan-St-46219/home/60072416

Off to my next project!

Thanks,

Dave

Good thread here...

Jerry, do you use ListSource for the mailing list?  If so, have you had any luck with using the map function to segment by street parameters within a zip?

Thanks,

Dave

Anybody have luck with the map function on Listsource?   I've tried using it (polygon function to target neighborhoods within a zip code) and it eliminates all but a few homes.  I've reached out to Listsource but their support wasn't the most helpful.

Thanks!

Dave