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All Forum Posts by: Paula Wallace

Paula Wallace has started 12 posts and replied 55 times.

Post: Is Do Hard Money legit?

Paula WallacePosted
  • Investor
  • New Orleans, LA
  • Posts 66
  • Votes 65

They are legit.  I am on my second fix and flip with them now.  

Post: Flipping vs New Builds

Paula WallacePosted
  • Investor
  • New Orleans, LA
  • Posts 66
  • Votes 65

I prefer flips, I have found here in New Orleans that you need to have your own construction company to make any profit off of the deal. Once you buy the lot and then plan for the build with the architect and everything you end up at the ARV. It depends on your area though. I would love to get into new construction one day though, I have found it much faster watching the other guys. Around here anyway the construction company wants to charge you an arm and a leg to build it.

Post: Need Renovation funds for a "Subject to" deal

Paula WallacePosted
  • Investor
  • New Orleans, LA
  • Posts 66
  • Votes 65

I have a deal that is "Subject to" and need funds for renovation of $50,000. The purchase price of the house in Metairie, LA, is $145,000. With an ARV close to $280,000. She owes about $8k on the mtg, which I can cover. The house is 5 bdrm/2.5 baths 2500 sq ft. with a large living room for entertaining and a fireplace. 4 bedrooms and 2 bathrooms are upstairs with a master suite. The house is split level, so the lower part is the kitchen and dining room with a half bath, laundry room and bedroom.

Post: 2 BOND FOR DEED PROPERTIES LOOKING FOR FINANCING

Paula WallacePosted
  • Investor
  • New Orleans, LA
  • Posts 66
  • Votes 65

Hi All,

I have two Bond for Deed properties, here in Louisiana that I am looking for financing for. One I would like to do a cash out for $150k total loan amount (duplex) the other I would like to do a cash out for $50k total loan amount (SFH).

Post: Need Financing for Renovation on a "Subject To" mortgage

Paula WallacePosted
  • Investor
  • New Orleans, LA
  • Posts 66
  • Votes 65

thank you both, I will find out and get back to you.

Post: Need Financing for Renovation on a "Subject To" mortgage

Paula WallacePosted
  • Investor
  • New Orleans, LA
  • Posts 66
  • Votes 65

Hi,  Looking for $60,000 for renovation on a "subject to" property.  Homeowner is 4 months  behind and started renovation but ran out of money.  The house can sell for $280,000 min, right now seller is looking to sell for $150k.  This is my first "subject to" property so I am not sure on how to get financing to finish the renovation.

Post: Single Investor Private Money! Great rates and easy financing!

Paula WallacePosted
  • Investor
  • New Orleans, LA
  • Posts 66
  • Votes 65

@Joe Lugo So he is able to fund outside of CA?  Can you e-mail me the requirements?  [email protected]

Post: Private money, you wouldn't want to miss this one!

Paula WallacePosted
  • Investor
  • New Orleans, LA
  • Posts 66
  • Votes 65

Looking at your fix and flip, just filled out inquiry.

Post: Single Investor Private Money! Great rates and easy financing!

Paula WallacePosted
  • Investor
  • New Orleans, LA
  • Posts 66
  • Votes 65

Will he fund in Louisiana?

Post: Looking for Investor with $40k, you will get 100% ROI

Paula WallacePosted
  • Investor
  • New Orleans, LA
  • Posts 66
  • Votes 65

115 14th St, New Orleans, LA 70124

Lot: $155,000 (48x120) (under contract)  With setback rules would leave 40x115 available

New Construction costs: $180,000 (looking between 2,000 to 3,000 sq ft)

Robert Wolfe Construction is going to build the house, they are a very reputable company. 

Total: $335,000   (Have obtained financing for up to 90% of purchase and build)

Looking for investor to provide $40,000 with 100% ROI

SOLD Comps for the area:

418 35th St - 3/2 - 2,550 sq ft - 111 DOM - $499,000 (SOLD 12/13/16)

215 12th St - 3/2 - 1,965 sq ft - 57 DOM - $428,000 (SOLD 11/30/16)

328 22nd st - 4/3 - 3,00 sq ft - 45 DOM - $550,000 (SOLD 12/30/16)

411 22nd st - 4/2 - 2,233 sq ft - 83 DOM - $412,000 (SOLD 1/27/17)

6338 Pontchartrain BL - 5/3.5 - 3,400 sq ft - 38 DOM - $599,000 (SOLD 1/20/17)

139 28th St - 5/4 - 3,055 sq ft - 92 DOM - $600,000 (SOLD 3/3/17)

AVG DOM - 71 DOM

AVG PRICE SOLD - $514,666

215 22ND ST - PENDING - 3/2 - 2,033 SQ FT - $479,000

We are looking to close by the end of the month and get things started.

Please text or call me if interested:  504-383-3624