All Forum Posts by: Stu Basham

Hey @Kerwin Montilla. Keep up the good work. That looks like a great deal. Is this a multi-family? Did you find it on the MLS? I agree with everyone calling all the local banks. There's got to be someone in that area who can easily do this deal for less than 7%.

Hey @Devon Martin props to you for going out there and doing it! I completely agree with @Mike McCarthy's point about doing it yourself the first time. I'm house hacking now in northern NJ right outside of NYC and bought a fixer upper. I didn't know anything about rehabs but taught myself to lay floors, tile a bathtub, paint cabinets, paint walls, basic plumbing, you name it. Did I enjoy the process? Usually not lol but I learned a ton and wouldn't trade it for anything cause now I know what I'm talking about and can carry on a conversation with a contractor who can respect my opinion.

That's my 2 cents. Good luck!

Hey @Bryan Reid did you ever close on these deals? Curious to know.

Super helpful! Thanks for sharing @Account Closed

@David Weintraub @Marc Weisi let's do it! Evenings and weekends are best if we could put something together!

@David Weintraub @Marc Weisi let me know when you guys go there again. I'd love to meet for a beer and see what's so special about it :) I live in JSQ. We could have a BP Meetup there!

Hey @Luis Marcelino, definitely touch base with @Shawn Washington as he's a brilliant guy and tremendous asset to have on your team. He'll point you in the right direction!

Thanks guys for the replies. Looking to get some boots on the ground in Scranton soon. About to start some direct mail campaigns in west philly. I will keep everyone posted once we've got a deal in the works. 

Hi all,

After several months of trying to find some BRRRR strategy options in West Philly we've decided to look elsewhere. We were under contract for 2 different properties but both ended up needing full gut rehabs for over 70k in repairs and the ARV was too low to be able to pull anything back out of the deal when we refinanced. Has this happened to anyone there?

So we are looking into Scranton or maybe other areas that might work. Any ideas? We live in Jersey City so would like to either be a few hours away or have a solid team on the ground to handle everything. 

Thanks in advance