All Forum Posts by: Jason Truesdale

I have a deal in Ohio on a high end home that has become bank owned. The home is just under 10,000 square feet and needs about $150k in rehab cost (this is an early estimate, our assumption is it could be less). The ARV on this home is $1 million dollars and was purchased back in 2006 for $1.2 million. I have all paperwork to back up these numbers and will forward them on request. I am in need of $600k which includes purchase price and rehab. I'm willing to give a high return (10% to 15%) on this deal with hopes of doing future business. Thanks!

Alice K. Thanks for the advice Alice, I just may send some stuff your way in the near future to see what you think!

I need funding for deals and don't want to go the route of hard money because from everything I've been told you get hit with fees and high interest rates.  I'd like to have a number of private lenders that I can always go to and give good returns to so that everyone walks away from a deal happy, but I haven't found them yet.  Where should I go to look for private lending?  What are all you other investors doing out there to get deals funded?

@David Benton Thank you for your response, that all makes perfectly good sense.  Also I sent you a colleague request.  I'd like to hear more from you sometime!

I'm new to real estate investing and was fortunate enough to attend a Private Money Lending Workshop at the local real estate investors group this morning.  I've never used private money before and was curious as to how you all go about it.  Our speaker this morning talked about offering 6 to 8% percent annual return on any money borrowed, are those good numbers?  I want to build relationships with private lenders and make them want to give me money because I've brought them such good returns and they trust me.  Any advice would be appreciated, Thanks!

Thank you to everyone that posted, you guys really shined some light on things that I didn't take into consideration or even think about.  I'm very new to all of this and it's nice to be able to have a discussion where you can learn something new from seasoned investors.  I look forward to hearing more from you guys...Thanks!

@Larry Fried I'll use a current deal that I have.  Yes this is coming from rental income alone...I typically use 8% to 10% for vacancy, maintenance, and capex. I also factor 10% for Property Management because I figure most investors won't be local or if they are local they may not want to deal with the property.  As far as taxes go I pull them off the county website and insurance I typically figure in approximately $50 per month.  In your opinion are these fair estimates?  I know it may be more property specific in some instances but I'd like your opinion...Thanks Larry!

I live between Dayton and Cincinnati OH where I've just recently gotten involved in wholesaling. I look for properties where I can get my buyer at least 12% ROI, is that a descent number? What kind of returns does everyone else strive to get in their respected areas?

I'm new to real estate investing and have had a good mentor along the way....I currently have a deal that I'm working on and want to know what others think?  Click here for Nelson Ave  Please let me if this looks good, I look forward to hearing some feedback and suggestions....Thanks!

Darrin Carey I emailed you earlier in the week, is the email you have listed still good? I saw you were a hard money lender and was curious as to how that all worked and if it was a good direction for me to go to get started.