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Updated almost 9 years ago on . Most recent reply

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199
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22
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Tyson Hosey
  • Rental Property Investor
  • St. Louis, MO
22
Votes |
199
Posts

Several "no"s...The "yes"s should be coming...right?

Tyson Hosey
  • Rental Property Investor
  • St. Louis, MO
Posted

I've been trying to fund a small buy and hold project, with my newly formed LLC. I've had a ton of no's. Big banks won't touch it, small banks where I am won't fund a project out of state, the local banks in the investing area won't do it (I assume because I don't have the relationship with them, that I'm not able to do because I'm not in that area to meet them in person), seller isn't in a position to carry the note..

I know I'm not out of options and I haven't asked everyone and every place that I can, but I've asked a lot. In this business persistence pays off, so I'm hoping to share a success story with you soon.

Most Popular Reply

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44,058
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65,103
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Jay Hinrichs
#1 All Forums Contributor
  • Real Estate Consultant
  • Summerlin, NV
65,103
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44,058
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Jay Hinrichs
#1 All Forums Contributor
  • Real Estate Consultant
  • Summerlin, NV
Replied

Tyson... you need to get a reality check.. no bank is going to do a loan without A PG.. unless its a multi million dollar loan to a very sophisticated investor.. all of us ( myself included) have to PG.. simple as that. if you don't qualify or are not willing then your wasting your time.. No one is going to do this.

Even HML require PG ,, I know when I had my HML shop I required it.. and when I have borrowed from other HML to soft money lenders I PG.. that's reality.

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JLH Capital Partners

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