All Forum Posts by: Matt Wilkes

I have a nice single family in Tampa, FL that is almost completed renovated. Doesn’t need much to finish. I have another project I need to move on to. If anyone has any interest let me know and I’ll send over the address. 
ARV is about $390k, looking to get around $310k

Hey all, 

I’m trying to find a small local bank that is friendly to flippers. Trying to establish a new banking relationship that can also assist with a line of credit or other funding for flips in Tampa. I’m sick of using hard money. Thanks 

Hey guys, 

Talking about seller finance, how are people finding these deals? I’m having a hard time getting agents or wholesalers to bring me these deals?

Thanks! I’ll take a look 

Hey all, 

My local market has gotten insane. It's impossible to find anything to BRRRR. I know people probably don't want to give out there honey holes, but any recommendation on markets where you can still BRRRR

@Brian Burke thanks Brian. My follow up is how is that 6-8 preferred achievable when all I’m seeing in the MF space are 5-7 caps for quality buildings? What am I missing?

Hey All,

I have a question on what is typical when it comes to preferred rates of return. I am running out of my own funds and have engaged an attorney to set up my first syndicate. I am noticing a standard in the fees. 2-2.5 in acquisition, disposition, 1.5 to 2 on management. But what is typical for an investors preferred rate of return?? I was thinking 6 but then I’d be targeting a cash on cash of close to 10% to give cushion for the fees. Seems tough.

Can anyone provide some guidance?

@Jack Martin thanks Jack. I actually used to work at Wells. They won’t touch smaller loans like this. I’m even having issues with local community banks. 3 now have come back and said it’s just not big enough. Luckily, I think Cloverleaf maybe able to assist.

Appreciate it