All Forum Posts by: Vickiel Woodard

Okay I look into it. Thanks for responding.

As the song goes I'm looking for someone to watch over me: I acquired a four unit in my local area which needs a full replacement of the plumbing drainage system . I got a steal of a deal (27K) because of the plumbing problems and poor management. And the vacant 2 bed /1 bath house in front was purchased from my family member for an awesome price. Total rehab 70k ARV in this low income ( C) area 160K -four plex, 70k for the bonus house. Income estimate 2600 per month. I have deed and title work on the Fourplex and quitclaim deed for the house. Looking for private lender 70K @8% for 8 months- one year. My bank will refinance once the repairs are done. Pics and analysis available. 15 years eexperience in managing rentals.

Great Win, Daniel! Thanks for sharing

so nobody commented, hmmm

Hey guys I need a little help/advice. I’ve locked up a lease option on a small commercial property and the house behInd it, that’s been vacant for five years. Since banks are not friendly to this kind of property, how would you go about financing the repairs. I plan to buy it in a year with bank financing, but right now I need to get it up and running. It needs 40k and House needs 25k. I’m starting on the roofs of both and then using my cash to get the house rent ready. Since it’s a lease... I can’t offer a lien on the property as many private lenders want. Any advice?

Danny Smith, Unlimited Praise 5017449735

@Aaron Klatt , Thanks for responding. The finally followed up and we're moving forward but he knows, I'm prepared to move on if he stalls. 

Hey BP guys,

I have a property under contract. I've provided  the lender with the application, a full proposal, a scope of work doc, a list of real estate owned, and evidence of my past experience but I cant seem to get this lender to move forward on my loan application. Any thoughts? Its a good deal and I've learned that the guy is friends with a big time real estate investor. How do I call him out on it without any proof that THAT is the problem?

Hey BP, I have a “ small duplex style ( with separate electric and plumbing) commercial space under contract with a 3/2 Home on the same parcel. The commercial space is 1300 sf. The house is about the same. I’M finding that HMLs don’t want to touch the commercial piece at all. Both are distressed and need about 45K together. The commercial spot is on a great corner where 20k cars pass per day. The building hasn’t been used in 10 years. I plan to clean it up and fix, and NNN lease it. I’m looking at other resources for fix up. Line of credits with local banks. I’ve never owned a commercial space before so I’m looking for checklists of what kind of fixed, materials, code requirements. Any suggestions? I’m meeting with the City planning office this week.

getter done!