All Forum Posts by: Jeff Lamothe

Congratulations on this flip @Chanelle Goldson.   I have been considering to do a few flips in CT and glad to see a testimony of a successful one near me.  

Hello @Allison Randall have you tried the Connecticut Real Estate Investors FB group?   There is a pretty sizable community of investors who may be able to assist you.   The one property manager that is active is @Samuel Eddinger from Ironclad Property Management but not sure if his company does short term rentals.    

Hello @Steve Batista it would make my day to see the lease that is provided from CT REIA because I remember of the coaches talking about how iron clad they are.

Quote from @Mark Showalter:

A few years ago I had four rentals in Birmingham and was very satisfied with Barrington Real Estate which managed my properties.

https://www.barringtonrealesta...

 Thanks for posting this Mark.   I just recently heard about them and was surprised that I didn't hear anyone recommend them in prior forums.   

Hello @Patrick Tan.   I am following this discussion forum and wanted to know how was your experience with 1st Choice Properties after about a year of service.     

Thanks for your post @Stella Jack. I have been looking for SFH and Duplexes as well and found a "potential" cash flowing duplex in 32209 and began investigating forum discussions on this city. Glad that I verified that the zip code is D class.

Were you able to find a property in Jacksonville?  

I just downloaded the Connecticut lease after changing to a PRO member over the weekend.    

Hello,

    Thanks for posting this @Kass Farran because I have been searching for lenders that are willing to do a loan on properties that are less than $100K.     I am working with a client on purchasing a rental property for about $75K and having issues because most lenders require the property value to be $100K.    

@Bobby Feinman and @Jon Puente I will reach out to you and see if you have any products that would help out my client.   

Thanks,
  

Good Afternoon,

I have a property under contract for a purchase price of $75,000 and looking for a hard money lender that offers 30 year fixed loans. Looking for max LTV of 75 to 80% and charges up to 2 points in lender fees. Looking for any lender that still does these loans so I can assist my client close. Thanks in advance.

Quote from @Marty Boardman:

I live in Phoenix and have been fixing and flipping/buying and holding in Milwaukee since 2012. Since that time I've hired/fired 5 general contractors and sued one of them for 120K (and only got 10K back).

Needless to say, I got sick of all this drama so I hired a project manager instead, and now I pay for my own materials and pay the sub-contractors directly. The project manager gets paid for scheduling and keeping the project moving forward. This gives me a lot more control over the timeline/budget.

The project manager also helps me find new trades because they constantly come and go. It's like being the GM of an NFL team, once players get really good they want more money and become unaffordable.

You can build a reliable rehab team in another market, but it will take time (and require you go there at least 1-2 times a month on your first couple of flips). By doing this you build trust (not just with contractors but anyone else you need on your team like Realtors, title reps, home inspectors).

As @Patricia Steiner pointed out, it's unlikely a pro is going to hand over their best contacts to you if they're already running a successful business.

Good luck Justin!

Hello Marty,

    I like your concept of using a Project Manger to help you find the talent and managing your schedule.    Would you mind if I connect with you on messenger?   I have some rentals in Milwaukee.