All Forum Posts by: Richard Loniewski

South Plainfield. look up 2 Melillo in S Plainfield

It took awhile, very frustrating in the beginning. I went the pre-foreclosure route and picked up a few bank owned as well. It's a numbers game, I was making 20 to 30 calls a day, networking with agents and making 4 to 5 offers a week. Finally it paid off, it get's easier (not much) after you get your first one

We are doing 4 modular homes in New Jersey, got the foundations laid, scheduled the house drops and used a finishing crew (specifically for modular) to complete. As long as you plan it correctly their shouldn't be any major delays.

Don't over analyze, use the local realtor for comps and if you have any pics send to a contractor (if you know any. You can also use some basic average costs of things like kitchens, bathrooms, roof, windows, flooring. Good deals go fast so You need to line up your numbers and make that offer ASAP

Check out Builders Trust Capital. We lend at 80% LTV and have other programs specifically for BRRRR. Fast and transparent. https://builderstrustcapital.c...

When I used them I made a deal with some realtors and sent those leads to them for a referral fee.

Make sure you check them them out first (Google, reviews), but also consider the fees they charge, ask about their process, how they do draws. If you don't feel they are being transparent then move on. Good lenders will not be ultra low, we need to mitigate risk which can benefit you from getting involved in a bad deal

The leads were generally retail and not motivated sellers

The most important part is accurate comps and repair costs. I use a tool called Dealcheck that does all the calculations for me. I think they have a free trial.

Most of our clients are in the Md/De area. Very competitive rates. Check us out: Builders Trust Capital. We only lend to an LLC.