All Forum Posts by: Darrell Shepherd

@Robin Watson  Robin, I love Nashville, its what sparked my interest in Tennessee.  The only reason it wasn't on my list is because its so hot the deals aren't there from what I could tell.  I'd definitely go away from the crowd if it made sense.  

I'm looking for flips at 70% less repairs or better, over $130k or so ARV. I'll cheat on that a little if its a light rehab in a fast selling area, though. What's the story on the Germantown house? $200k all in, or does it need repairs on top of that?

Hey Val, that's my neck of the woods.  Big difference in value if you can do 3 houses instead of 2.  I could take that down if the numbers work out.  Give me a call to discuss.  I'd also like some info on the no tax return loan you've got on your website.  404-886-9318

Shoot me over the numbers, I might be interested in doing something if it makes sense.  

I'm looking to buy some rehabs and possible holds (single or multi) in Memphis, Chattanooga, Knoxville and/or Clarksville.  

Looking for wholesalers, agents, and contractors in these areas. Would consider JV deals in these areas with people experienced in construction that can manage the jobs.

I'm looking for an experienced agent in Charlotte.  Finishing up two rehabs I need to list and am looking for more rehab opportunities. Listings are $450k and $265k (I think), I'm looking for someone dialed into the market and knows the investment/rehab game.  

Believe it or not, its easier to fund the big ones than the little ones.  Lima One doesn't have a minimum loan amount, but their minimum origination is $3500 and you'll have another grand or so in fees.  Hard to give them that much and still make money on a $25k spread.  You're working on a 30% margin and have about 15% in hard costs so when you pay extra points on money costs you dont have much room for error on those smaller ones.

Might could find a private lender, you'd be surprised how many people have that kind of money laying around in cash equivalent assets.

Bank isn't really an option unless you are using other collateral like a HELOC on your home's equity or something.

I haven't tried ground floor or any of the other crowd funding platforms, but there's an ad for it on my screen as I'm typing this and my understanding is they've come a long way since I talked to them at launch.

It's at 100 S Gregg St.  On lockbox if you want to go by and look.  My count was around $45k to finish it.  I'm taking offers.

Need help in Charlotte!  I've got two projects I was working on with partners that turned out to suck.  One is mostly finished, need to pour a driveway, build a porch and do a general punhout/yard cleanup kinda thing.

The other one is stalled out with a lot of work left to do.  The trades are done, but it needs everything after, sheetrock, floors, siding, paint, cabs, insulation, etc.  

I'm looking for a local contractor to get this stuff wrapped up.  I'd sell the bigger job or consider partnering with someone local who knows what they are doing.  Prob a $265k list when done, needs around $45k by my count.  Got somewhere around $150k in it right now.

Other one is a money loser, I just need to get it fixed and sold, losing my *** on holding costs, its a $450k house.

I definitely wouldn't consider myself a millionaire just because I had a million in assets without subtracting liabilities.

There's no real rule for "millionaire" status, its not a club or anything, but I'd wager that anyone with any sense when they are throwing that term around are thinking net worth.  As said before, that's all assets less all liabilities.  

Personally, my net worth spreadsheet includes what it'd take to liquidate, including future interest, sales fees, etc.  I have a "bankers version" column and a "true net" column and they are very different.  

I look at and revise that spreadsheet almost daily, btw.  Very important stuff to know.