All Forum Posts by: Jameson Drew

Saeed Corporation has been buying fix and flip properties since the mid 1980s. We are currently looking for partners across the US who have off and on-market deals with enough room for a quick renovation and profit.  SaeedCorp works a little differently than other fix and flip companies. See a sample below.

Sample Transaction:

Purchase price: $50k

Closing costs: $3k

Construction costs: $17k

ARV: $100k

Profit: $30k

Half of this profit goes to our capital partners for funding deals ($15,000).

The other half of this transaction is split evenly between Saeed Corporation and the person who brought us the deal. That's $7500 in your pocket for every transaction. The more transactions you bring with room for profit, the more you will make. This encourages the person locally (you) to keep costs low and construction times to a minimum. And if you happen to double end the sale, more power to you.

If you are a realtor, wholesaler, or simply someone investing in real estate feel free to message me with your information. Extra points if you have a solid construction crew on the ground with a good track record and references.  Once you pass our due diligence process, we will fund your deals daily.  

I have about 20 rentals in Muncie. The answer is it depends. You arent going to get much appreciation on your houses, but renters are relatively easy to come by. Its certainly not dead by any standards, but not booming either, though I find it much better than many midwestern towns of similar size.

Welcome Travis. I have a few properties for sale in the Muncie area if you are interested. Please feel free to contact me.

I'm looking for a team of either private or hard money to come in on a deal with our veteran flipping team. Without going into too much detail here, the project requires a POF of $3million and comps show an ARV of $6million.

We are looking for either a hard money lender or a partner who would like to join us on this venture ASAP.  Deal will not last long. Please DM me for more details.

I've been buying in Muncie for years.  I get properties from tax sale.  Not every B class city is the same in Indiana, however.

In cities without large factories or colleges, your units will be purchased for much less, but sit empty much longer. Furthermore, if you need repair work done, the options for various items like flooring or roofing are limited to maybe one or two contractors nearby.

Muncie and Anderson are centered around both manufacturing and large colleges (Ball State and Anderson College). They are also surrounded by farm land.  Muncie in particular has a large regional hospital and a transport hub.  This characteristic is shared by a few other cities like Fort Wayne, South Bend and Bloomington.  It also has dramatically lower taxes than the states surround it.

The downside to these areas are the downsides to Indiana in general. Public schools are a mess.  Heroin use is rampant.  Section 8 tenants are more common than usual.  Some smaller town governments can be inept or corrupt (the mayor of Muncie in under FBI investigation).  Hands need to be greased, and projects babysat longer. Choices for competent property management is sparse. 

Please add me. I own several in the area.

This is a property my partners picked up last year as a package of properties.  We are considering outright selling it or looking for the right contractor and the right price to fix it up.  Propery needs complete interior renovation.  At least one unit needs complete electrical rework and all need drywall, flooring, paint and a few windows.  Please PM me for more information.

I have a 4 unit duplex in Columbus, OH that needs complete renovation.

There's a couple things going on in Muncie and Anderson that are cause for concern, but if you can get rentals in the right place, they are solid.

Muncie school district is broke, and thats bad. The mayor is under FBI investigation.  The state recently asked Ball State, the largest private college in the area, to take over.  that legislation has been stalled for a while.  Like Anderson, Muncie is great until you get a few blocks over, then it gets rough.  Ball State rentals are great, but you will pay high prices for them.

There is a tech park being built in Muncie's west side and Anderson is rumored to get a Amazon-only airport to its southwest. Rumors on the latter, the former is being built. I recommend going out there personally and seeing for yourself.

Property values across the White River are just higher.  Rents are higher.  Its not a discrimination issue, or an ordinance one.  I've charged more for my rentals near Ball State than I do downtown, and no ones ever said anything to me about it.

Consult a lawyer or property manager regarding parent co-signers.  Also, be careful how you report who your tenants are to your insurance companies.  A lot of policies wont cover college renters.