All Forum Posts by: Michael Campbell

@Angela Henderson Sounds like some great deals!  Where in Philadelphia are you investing?  What types are strategies are you using for finding properties?

Mario, with a little research you should have no problem finding hard money lenders. Try googling and calling around. You should also attend local REIA meetings to meet other investors who can tell you what lenders they are working with.

BRRR + Flips

@Brett Sorenson, I would recommend calling a few other insurance companies to get quotes.

I'm currently mailing out about 650 letters for my direct mail campaign and the final cost is going to be ~$500.  I think this is fairly typical.  The most budget friendly way to find deals is going to be driving for dollars. 

@Alison Koenig

As @Lesley Govan stated, definitely check your repairs and Capex numbers. They do seem low to me. Also consider any other expenses or utilities that you may have to pick up. I don't see property insurance listed as an expense. Are there separate water meters for each unit or will you have to pay for water/sewer? Is there any house electric or gas that you will have to pay for? Will you have to pay for lawn care or snow removal?

@Reggie Maggard

As other have said, the website isn't something you should be worrying about right now.  Get some initial letters out using your phone number and an e-mail address.  You might want to set up a Google Voice number or something so you don't have to use your personal phone number.  See how that goes and adjust from there.  The important thing is to get your marketing started... don't worry about having everything perfect the first time.

@Boris Grinberg

So when would the check for $10k be provided?  Would he have to pay the $10k up front and then be reimbursed?  What if he were to hire a different electrician for $15k... would they have to pay the $15k to the electrician and be reimbursed later?

@Karen K.

I'd recommend calling some local hard money lenders and ask them how they operate.  Everyone will do things slightly differently, but I believe most hard money lenders lend out money in phases or draws.  So before they would give you money for a portion of the renovations, they would do an inspection to make sure the work has been done.  I can't imagine they would have any issue with your husband doing some of the work as long as it's done properly.

@Branden Ellenberger

Sounds like we are in pretty similar positions.  I am a mechanical engineer in the Philadelphia area.  I own a 2-unit rental that I've spent a lot of time renovating and I'm looking to take the next step in my investing.  Let me know if you'd be interested in meeting up one day this week.