All Forum Posts by: Shawn Duncan

More than likely they are going to be your best interest rate and a place you can build a relationship with if you want to purchase any other properties there. I'm sure some other folks that are much more knowledgable on this will chime in but that's been my expirence. 

Goodluck on the next duplex!

I would be interested in attending, I've thought about starting something like this myself. I think it's be a great resource to anyone involved. Where you thinking a bi weekly or monthly meeting?

Are you using yellow letters.com?

interested in more information.

I have rare large parcel  (6.6 Acres) of land under contract right off of Interstate 69 in Anderson, IN Next to Eagle Pointe Plaza which is home to Holiday INN, Tractor Supply and Walls Furniture and across the street from Meijer with close proximity to Menards. The land is currently zoned I3 and I have spoken to the city and the zoning is flexible to move down the commercial scale i.e C3 or C4 or General Business.  I have done some preliminary investigation and my plan would be for retail on the front lots and self storage in the rear of the parcel. I contacted an existing storage facility 1/2 mile away and they did not have any units for rent out of 60 available.  

The price for the parcel is $120,000( $18,181 per acre ) including my fee. 

 Eagle pointe plaza lots for Holiday INN and Tractor supply sold for $138,000 per acre, There are no environmental concerns I am aware of. This was a residence and farmed on the back portion.  

I truly wish I had the ability to develop this myself but I am committed to other projects and will have to let this one go.

Billboard Opportunity on the back of the property facing State road 109/ Scatterfield 

Thanks for all the response, these properties are still available for refi to those interested. I have a couple projects I am looking at and would like to get them rolling. Send me a message with any questions.

Thanks!

Do you think I would be best with a local bank? I'm not sure I can get a line of credit because I don't run any income or expenses through the LLC those are in that is all through my management company LLC so I don't have to file so many returns. Maybe my structure for the LLC's isn't favorable for loans and that needs revised as well.

Thanks for the good questions Paul,

The LTV is 62% on two properties combined. I will be using the money for at least two fix and flips in that year hopefully more and that would be how I would cash out the investor. I had a 1 year first with flexibility to add 1.25% per month as agreed up to 6 months additional. But all that can be tailored to what works best for the lender. I know you had a couple flips going when I spoke to you last. If this is something you'd be interested in the near future I can email you more detailed information.

Thanks Paul.

If these terms aren't enticing enough send me a PM with what might work for you and we'll see if we can work something out.

First off I'd like to thank the biggerpockets community for all the great contacts I have made. This site is an incredible resource no matter where you are in your investing business.

I currently have a few properties that I own outright that I would like to leverage for other real estate flips. I am currently working on a couple flips that are funded in part by a biggerpockets member as well.  I'd like to pull cash out of my properties for 1 year. I am looking to get $80k Total out of the properties.

I am willing to pay 13% annually ($10,400) on the $80,000 cash out Because I feel this is very low risk as these properties are not reo's, they have already been rehabbed and updated.   If you do not have the full amount and would be interested in doing a cashout on just one of my properties send me a message and we can discuss the details. 

Thanks for taking the time to read my post

-Shawn