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All Forum Posts by: Scoop Schneider

Scoop Schneider has started 12 posts and replied 48 times.

Post: Introduction to real estate

Scoop SchneiderPosted
  • Investor
  • pensacola fl
  • Posts 55
  • Votes 12

tax lien or tax deed

Post: Jerome Maldonado real estate developer training

Scoop SchneiderPosted
  • Investor
  • pensacola fl
  • Posts 55
  • Votes 12
Quote from @Ken Williamson:
Quote from @Shawn Fletcher:

Hi Leslie, Did you move forward with RE Developer Training offered by Jerome Maldonado. I've been giving lots of thought buying a lot for build and sale of a SFR, and would like to touch base with like minded folks.

Thank you,

Shawn


 I was in the 6 month program and paid $5000. Didn’t get any value from it due to not being able to be on almost all the zoom calls due to my job. I guess that’s my fault for having to work during the times when the calls are scheduled.I Feel his program should’ve been billed for actual calls that you attended vs 6 to 12 months and you’re out. The zoom calls are packed with other wanna be aspiring developers/investors trying to ask him questions. Never once did anyone from his staff call and ask why I wasn’t getting on the calls that I paid to be on if there were problems etc etc. However they did call and ask me to give a good review and once they removed me from the WhatsApp and no longer allowed to network with other individuals from the group they have called trying to get me to sign back up for even more money. I found way better courses since then that actually go over what it takes to build a home for way less money! I’m sure there are a few successes stories in his group but for the majority of people that get in his group they are just wasting their money! You can get most of what he talks about for free on YouTube. And not to mention that once your out of the group you lose access to the zoom calls that you paid to be on so no going back and reviewing them! 


 what cheaper course

Post: finding private money

Scoop SchneiderPosted
  • Investor
  • pensacola fl
  • Posts 55
  • Votes 12
Quote from @Esther Joseph:

Yes I am seeking an equity partner on a deal for one of my clients


 what are the details private message me

Post: Financing is more difficult than Quantum Physics!!!

Scoop SchneiderPosted
  • Investor
  • pensacola fl
  • Posts 55
  • Votes 12

im interested in starting new construction could be a win win situation how much do you need

Post: Long Time Lurker

Scoop SchneiderPosted
  • Investor
  • pensacola fl
  • Posts 55
  • Votes 12

thats great dillon so what are you currently working on

Post: Seeking a mentor - Here’s what I can offer…

Scoop SchneiderPosted
  • Investor
  • pensacola fl
  • Posts 55
  • Votes 12

how did it go did you find a mentor, i wouldnt say by any means im a mentor but i do have experience and am always looking for jv so when you find a deal i always would be interested in checking it out

Post: Advice on Selling Portfolio

Scoop SchneiderPosted
  • Investor
  • pensacola fl
  • Posts 55
  • Votes 12

where are these properties

Post: Please help new investor!

Scoop SchneiderPosted
  • Investor
  • pensacola fl
  • Posts 55
  • Votes 12
Quote from @Rene Hosman:
Quote from @Dakota Williams:

Hello community!
New investor here need advice on a deal I am about to do. Feel free to roast, criticize or give any advice you have I can take it. Backstory: 22 years old about to get out of military after first contract. 70k cash saved up & 775 credit score, no debt. Looking to buy duplex to live in and ultimately renovate if the numbers make sense. I am approved to use VA loan at 5.5% guaranteed. Here are the numbers:

Purchase price: 300k @5.5% (might be able to negotiate new exterior paint job credit)

Monthly costs: mortgage- 1703 tax-245 (2933/yr) insurance- 167

Market rents are 1600$ easy for both sides as is but currently being rented at 1410 and 1325 tenets pay all utilities (separately metered)

Planning on putting aside 20% of rents for Maint, vacancy, capex and will be self managing property.

Property is fine as is but if fully renovated in my market I estimate 500k-550k ARV. This is a 2500 sq foot 3 bed 2 bath both sides. After renovation rents would be 1900-2000$ so about 4,000$ total rent for both units. If I did the BRRRR method would this work out perfect? 300k purchase + 10-15k closing + 80k remodel + 5k for refinance costs. 80k remodel number I got from my father who is a general contractor in the area. 500k ARV x .80% refi (because it would be my primary residence) = 400k minus 15k closing, 80k remodel, 5k refi cost = 300k my original purchase price.

Property details: 3 bed 2 bath both sides with attached garages, aluminum siding, copper plumbing, 1972 construction, separately metered, all electric water heater, range, dryer, public water and public sewer on a slab foundation in a great school district right next to brand new construction everywhere.

My only cash investment would be the 10-15k of closing costs as of right now. I am very very new this is the first house I am ever buying.

Any advice is welcome. Am I getting a good deal as is? Should I keep it as is or renovate? Do numbers look accurate?
thanks!


 Welcome to the community! How exciting you found your first deal. Are you inheriting any tenants or is this property coming empty?

Also have you been able to see the property in person or are you relying on an agent to be your eyes and ears on the ground?

It seems like from what you've said your costs are $2115/mo (1703+245+167) and you'll be able to bring in $1,600 from one side of the duplex, then you'll be living in the second side for a year at least since this is a VA loan for a primary residence? Meaning you'll only be paying $515/mo to live? That seems like a great deal to me!

I'm doing a live and flip right now and breaking a SFH into a duplex by remodeling one part of the house, then renting at top dollar once the remodel is complete. And then will move into the second side and renovate that as I live there. I'm doing this because then I can cashflow the renovation without having to take out reno loans, it takes a bit longer because projects get done as I have the money to do them but for me I prefer to be a bit more risk adverse and have less debt. Perhaps that is an option for you unless you're in a rush to pull your money back out right away?


 im in the process of doing that right now any tips so i dont overspend on reno since a nonconforming duplex is more valued at cashflow than the arv

Post: Wholesale Listing for Buyer

Scoop SchneiderPosted
  • Investor
  • pensacola fl
  • Posts 55
  • Votes 12

lmk who you find i need to join more list however my market is pensacola fl

Post: mobile home 30 yr loan

Scoop SchneiderPosted
  • Investor
  • pensacola fl
  • Posts 55
  • Votes 12

do you know any lenders for conventional 30 yr mobile homes or low personal loans i am NOT looking for hard money