All Forum Posts by: John Rubino

I just emailed you.

1. Hi Regina,
2. Welcome to BP. As @Jessica Swingle mentioned, we have a real estate investment group that meets once a month in Fairfax, VA. The group also has a Facebook Page at Capital REI Group. Our next meeting is scheduled for Wed 27 January and will cover "Commercial Rea Estate." Our group has over 260 members and we normally get 20-50+ per meeting. We are also on meetup.com if you'd like to check that out.
3. Have a great day and hope we get a chance to meet you at one of our meeting soon.

Regards,

John Rubino

Happy New Year BP!

I own a private lending business offering Fully Funded and Joint Venture Services. We are looking for partners (investors/businesses) who need acquisition and rehab funds for their residential and/or commercial projects. Our typical Fully Funded Service focuses on properties at 65% of their NET ARV, however every deal is different so we can definitely discuss. For Joint Ventures we are willing to fund up to 75% of the acquisition and rehab costs for a preferred rate of return and share of the profit split. We have completed projects and are currently lending in Virginia, Maryland, Washington D.C., Georgia, and North Carolina. We are looking to continue to stay on the east coast but if the deal makes sense we will absolutely take a look.

Feel free to visit our website at www.jidinvestments.com and our Facebook Page at JID Investments, LLC.

Thanks and Have a great 2016!

If you have the chance to add a bedroom or bathroom....I'd say go for it......Most homes increase in value when you add a Bedroom or Bath.....Here's my list of priority renovations when updating/rehabbing

1) Kitchen and Bathrooms

2) Bedrooms

3) Living spaces (Living room, dinning room, den)

4) Curb Appeal / Landscaping

5) Windows.....yes believe it or not windows are a big plus

6) Upgrading or new flooring

7) Finishing a basement

Those are the big ones.

Don't forget to add your costs to the ARV to get your NET ARV......I use 10% to be safe, others use 7-8%.....so if the ARV is $300K......use $290 as the Net ARV. Also take off 1-1.5% on the front end for closing costs and another 1% for carrying costs. This will keep you safe. Good luck.

Build your team:

- Contractor

- Realtor

- Lender

- Attorney

- Closing Company

Your team should be people you can interview and get accustomed to. Contractors are probably the most important.....Try to find an investor savvy realtor.......pending whether you have $$$$ you can look for a HML/Private Lender or maybe a community bank for conventional financing. I agree with Ned......a ton of tools here on BP to assist. Good luck.

Lamor.....I agree with all the comments that state if you want to use HML you need to have a little cash to pay both the points and monthly fees. Most HMLs charge 2-4 points and anywhere from 12-15% on the monthly interest (annualized). So if you are going after a deal that is worth $300K ARV (don't forget to take out the front end, back end, and carrying costs) and need $170K to purchase and $30K to do the work ($200K total) and want a HML to fund it at 112 and 2.....you'll need $4K upfront and $1K each month for the fees.

Private money can be a better option if you don't have the money and can find a company that collects everything on the back end. This way you don't have to bring any money in up front. These companies tend to have the same or higher fees than HMLs, but again the pro is nothing out of your own pocket. It really depends on your strategy/plan with the property.....If there is more "meat on the bone" and you don't want to pay any up front fees or monthly fees....private money is a great option....if you have $12-15K and you can handle the HML and make a little more on the back end this may be a better option........good luck!

Thanks Steve. I hope all is going well for you with the projects we discussed. Keep me posted on anything we can partner up on together. Also hope to see you and Shayne at a future REI meeting soon.

Abhi......we would absolutely consider Charlotte......we are actually working with a team outside of Raleigh-Durham.  We really like that area.  Shoot me a PM or email and I can shoot you our company info (e.g., Parameters/Terms Document and other info).

John

Thanks Matt. Are you using private money for your projects? I'd be interested in talking more with you if you are looking for a private lender and have active projects you are managing where we can both partner up on together and where it makes sense for us both.

If you'd like to talk more send me an email at [email protected]

Have a great rest of the weekend.

John

Hi Chris. North of Richmond is our preference, but we are looking at all of MD and VA for now. Thanks.