All Forum Posts by: Scott Freer

I am in need of funding. I lost two properties already under contract and $10,000. I have 2 more under contract and they are solid, I just keep getting people who want more than I can part with to make the deal work. I'm not cheap I'll even go 50/50, but after anticipated repairs and holding costs I seriously will be net to net just over even.

Can anyone recommend someone who is looking for long term success with a reasonable decent guy? One that isn't looking for a grand slam out of my pockets.

I'd explain the deal but in a nutshell two properties $125k with an ARV conservatively from MLS $170k $10k repairs. Also $77k with $25k in repairs for an MLS comp of $160k. Anyone who can help it would be appreciated.

By the way I know a dozen hard money lenders that's my problem. I even know people brokering out hard money loans independently for hard money guys taking a cut.

Sean

Don't  know if you are getting my emails  your deal sounds pretty good. I just have to get an unofficial write up of the particulars including type of insurance you prefer (hazard or umbrella) to show to my guys and we're off. 

I also sent that I have 3 commercial properties. 1 hair salon and 2 auto body shops. If your interested in colateralizing.

Scott

I am making settlement on 6/5/15 and my lender backed out. I have commercial properties free and clear. He was going to leverage the equity in them but it turns out I own two autobody shops and he won't work with autobody shops, go figure. Now Dispite the fact I was feeling like I was done, I'm back at square one.

I have a house under contract that I paid $171,000 for and I need to do $25,000 worth of rehab on it. I ran the numbers off of the MLS and I conservatively see an ARV of $275,000 with a BPO of $302,000. I'm looking to borrow $200,000 to account for any surprises.

I'm going to write this one up and shop it around, I got a bite from a guy that wants my first born. The deals l'm seing are 6+ points 14% I/O payments and up to $1,500 in origination fees. My problem is up front cash I have between $30-$40k and that includes closing and rehab to work with. If any of you or your colleagues are interested I will go as high as is fair DOS, or a fairly modest up front fee and a percentage at closing . Thanks in advance for considering my situation.

Scott

I am going to settlement on 6/5/15 and the lender bailed. I have a house under contract that I paid $171,000 for and I need to do $25,000 worth of rehab on it. I ran the numbers off of the MLS and I conservatively see an ARV of $275,000 with a BPO of $302,000.

I'm going to write this one up and shop it around for $200,000, I got a bite from a guy that wants my first born but I'm not interested . The problem is all the upfront fees are close to 50k. If you or a colleague are interested I will go as high as 50% DOS, or a fairly modest up front fee. Thanks in advance for considering it.

Scott Freer

215-896-8029

I absolutely do. Thanks Alpha!

I'm going to flip out instead of flip the house. I'm getting quotes for insurance that is making me angrier than hell, $400 + a month. I need a policy to cover basic business with errors and omissions and $500,000 worth of property (subject property). I don't want a home owners policy for every house for 30-90 days. No one gets me. Help!

John is a straight shooter. If you are interested in his methods you can find him on you tube,  look under Systems Saturdays. His pre-habbing course is pretty ingenious. 

Jason,

Thanks for your advice. I appreciate you responding to my question.

Hi Jason,

I know I'll need a number of insurance policies... Builders Risk, Liability, possibly Flood insurance, etc so I was wondering if I can combine policies with one agent for a lower cost. Also, would getting a higher deductible lower my costs. I want to know if I can get some of my money back if I cancel early as well. I'm intending on flipping to start out so I might not need a full 6 or 12 months of coverage. 

Thanks for your response. I appreciate it.

Hello,

I'm a first time investor, about to start looking at properties but I want to complete my investment team before I start making serious offers.

I'm hoping someone can help me with what insurance companies in the Philadelphia area are good to work with for investors. Has anyone had any particularly good experiences with specific companies or know of any I should steer clear of?

This has been the most difficult part of putting my team together so far so any suggestions or advice would be greatly appreciated.

Thanks.