Dallas-Fort Worth Real Estate Investor Club

Private Funding being sought for a deal in hand.

  • 02 Jan 2016 12:35 PM
    Quote
    Message # 3736198
    Paul Nathanson

    Paul Nathanson here.  I secured a flip deal on 12/31.  My first one! My next step is lining up the funds with a private lender.  ASAP, of course!  Any suggestions?  

    Here are the basics of what I've got going.  North Dallas  3/2.5/2 with pool.2489 SF.  Purchased $310. Repairs up to $70 (conservative #).  ARV $450.

    E-mail me   pauldnfmtx@verizon.net

    text or call  (972)816-6796.


    Thanks y'all!


    Paul Nathanson
  • 02 Jan 2016 9:52 PM
    Quote
    Reply # 3736607 on 3736198
    Robin Carriger (Administrator)

    Sounds like the price plus the repairs you quoted will put an investor into it for just under 85% of value assuming the $450K is accurate.  That's a little high for my taste; especially given the price range.
  • 05 Jan 2016 12:22 AM
    Quote
    Reply # 3740043 on 3736198
    Dwayne Modisette

    Looking at it percentage wise makes it seem not that great. Considering the price though, there's still a good amount of money to be made. If your numbers are accurate, you could potentially walk away with a cool 40-50k. Just make very sure they are accurate. Most hard money lenders won't do it though since the percentages are not optimal. Look for some private money. I don't know how new you are in the industry, but it may be best to partner with someone familiar with that area and split the profits just to get the learning and experience and avoid unforseen pitfalls if any come up.

  • 05 Jan 2016 1:40 PM
    Quote
    Reply # 3741219 on 3736198
    Taylor Weakley

    Paul,

    My name is Taylor Weakley, I am a Hard Money Lender and Sponsor of the DFW REI Club. I work in partnership with my dad who has been in the business over 30 years here in the DFW Metroplex. If you would like to discuss the property you have in North Dallas please feel free to give me a call anytime as every deal is different and can figure out what is appropriate for you.

    Taylor Weakley

    817-939-9436 cell

    taylorweakley@yahoo.com
  • 10 Jan 2016 10:41 AM
    Quote
    Reply # 3750679 on 3736198
    Steve Labus

    Paul I buy in north Dallas. Please contact me at Steve@ElvisBuysHouses.com if you need help on this one. Thanks!

    Steve Labus
  • 10 Jan 2016 4:18 PM
    Quote
    Reply # 3751016 on 3736198
    Deleted user

    I typically look at the percentage AND the dollars... 85% ARV for a $75k home is much different than 85% on a $400k+ home... That said, that margin would be too tight for my taste as well... Like the others said, be very clean on your estimates.... One thing I actually do is be super safe in my estimates, if I'm ever off, it will be in favor of the investor and not the other way around... This way, my investors know that my estimates are solid.... 

    Hit up Steve Labus on here. He's a good one! 

    -Brian  R. Baker, MBA

    Texas Housing Partners LLC. 
Powered by Wild Apricot Membership Software