All Forum Posts by: John Prince

Investment Info:

Hello Everyone!

We are currently in serious talks with a few of you and so I just wanted to say thanks, and I think we are set for now. I really appreciate everyone who reached out! Thanks!

Typical purchase would be a single family home (100-200k). Typical rehab would be somewhere between 40-80k. I typically borrow hard money from David Williams (American Funding), a local hard money lender, at 12% and 2 points and bring about 50k of my own money to the table. I'm looking to bring much less of my own money to the table. No more than 20k per deal. 

I'm fairly available today if you have time. I'd love to chat. 801-913-1505

Hello BP,

My partner and I are looking to grow our flipping / rental business in Utah. Our current hard money lender is great but we are looking for a partner who can lend at something close to 90% pp and 100% rehab at 12%. We have a lot of flipping experience and are not new to the game. We want to take our business to the next level and need the right hard money lender to scale with. I'm more than happy to share numbers on past and current projects. Let's do business!

@Isaac Blocher. It is usually anywhere from 10-30k depending on the deal. If it was a higher end flip it could even be as high as 50k needed. The main reason I'm seeking gap money is to manage multiple projects. I have enough capital to do one flip at a time, but I really want to start scaling. 

That would be pretty bad to just pull out of a deal. I don't know about how other people operate, but my reputation is a lot more important to me than a few bucks lost on a bad deal. You're right though it is a much riskier investment, but I do know there are people out there that do bridge and gap loans yes? Or am I way off on that. 

Hello Bigger Pockets,

I bought my first flip a few weeks ago, a great deal! It was a pre-foreclosure for 111k, that needs 50k of rehab, and has an ARV of 255K. I have a pretty good system for finding more deals like this and would like to get multiple projects going. But I'll need some bridge loans until I get my capital out of this project. Any private money lenders that specialize in gap loans? I have a great hard money lender that will lend me up to 80% of ARV. I just need a bridge for the 10% down he requires. Please contact me at 801-913-1505 or [email protected]. I'd love to go into more detail on my current project and plans.

Hello Bigger Pockets Community,

I am looking for flip properties in Salt Lake, Davis, and Utah counties. We are willing to invest in any kind of residential property from 1-12 units. We are looking for properties that are selling for 70-80% of ARV - rehab costs.

Hey Jeff,

My company Prince Assets is looking to invest in flips in Salt Lake and Utah County. Shoot me an email sometime. We should talk some more. [email protected]