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User Stats

18
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4
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Looking for private lenders.

Posted

Goodmorning I’m trying to find private money lenders who are looking on making a return on there money through me house flipping.

User Stats

6,274
Posts
3,588
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Bob Stevens
Pro Member
#2 Classifieds Contributor
  • Real Estate Consultant
  • Cleveland
3,588
Votes |
6,274
Posts
Bob Stevens
Pro Member
#2 Classifieds Contributor
  • Real Estate Consultant
  • Cleveland
Replied

Do you have a deal ? Post it with the numbers 

User Stats

18
Posts
4
Votes
Replied
Quote from @Bob Stevens:

Do you have a deal ? Post it with the numbers 


 I don’t at the moment but would like to have a private lender on hand so when I do we can take action. Do you happen to be a private lender?

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User Stats

6,274
Posts
3,588
Votes
Bob Stevens
Pro Member
#2 Classifieds Contributor
  • Real Estate Consultant
  • Cleveland
3,588
Votes |
6,274
Posts
Bob Stevens
Pro Member
#2 Classifieds Contributor
  • Real Estate Consultant
  • Cleveland
Replied
Quote from @Ernesto Barragan JR:
Quote from @Bob Stevens:

Do you have a deal ? Post it with the numbers 


 I don’t at the moment but would like to have a private lender on hand so when I do we can take action. Do you happen to be a private lender?


 Goin backwards, NOBODY is going to commit to you without even knowing what you have. Find a deal ( do you know what a GOOD deal is ? ) then post it in the local forums 

User Stats

3,507
Posts
1,079
Votes
Erik Estrada
Lender
  • Lender
1,079
Votes |
3,507
Posts
Erik Estrada
Lender
  • Lender
Replied
Quote from @Ernesto Barragan JR:
Quote from @Bob Stevens:

Do you have a deal ? Post it with the numbers 


 I don’t at the moment but would like to have a private lender on hand so when I do we can take action. Do you happen to be a private lender?


 Hey Ernesto, 

Have you completed any flips in the past or is this your first one?

User Stats

16,469
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13,974
Votes
Chris Seveney
Pro Member
#3 All Forums Contributor
  • Investor
  • Virginia
13,974
Votes |
16,469
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Chris Seveney
Pro Member
#3 All Forums Contributor
  • Investor
  • Virginia
Replied

@Ernesto Barragan JR

Do you have 20-30% down payment ?

What is your experience ?

User Stats

1,779
Posts
892
Votes
Scott Wolf
Pro Member
  • Lender
  • Boca Raton, FL
892
Votes |
1,779
Posts
Scott Wolf
Pro Member
  • Lender
  • Boca Raton, FL
Replied
Quote from @Ernesto Barragan JR:

Goodmorning I’m trying to find private money lenders who are looking on making a return on there money through me house flipping.


 If you have a flip under your belt, I'd be happy to discuss our terms.

User Stats

18
Posts
4
Votes
Replied
Quote from @Chris Seveney:

@Ernesto Barragan JR

Do you have 20-30% down payment ?

What is your experience ?

Yes I do and my experience is beginner level I haven’t done any flips yet I know it’s going to tough getting funded but here I am, have to start somewhere.

User Stats

16
Posts
1
Votes
Fred Shatzoff
  • New Jersey
1
Votes |
16
Posts
Fred Shatzoff
  • New Jersey
Replied

@Ernesto Barragan JR  I am happy to talk to you and explain how lending works.

User Stats

124
Posts
19
Votes
Eugene Neal
  • Lender
19
Votes |
124
Posts
Eugene Neal
  • Lender
Replied

I've been able to successfully help first time investors with a Hard Money loan. One thing I can advise early is to be prepared to have at least 6 months to a year of reserves. 

User Stats

3,507
Posts
1,079
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Erik Estrada
Lender
  • Lender
1,079
Votes |
3,507
Posts
Erik Estrada
Lender
  • Lender
Replied
Quote from @Ernesto Barragan JR:
Quote from @Chris Seveney:

@Ernesto Barragan JR

Do you have 20-30% down payment ?

What is your experience ?

Yes I do and my experience is beginner level I haven’t done any flips yet I know it’s going to tough getting funded but here I am, have to start somewhere.

 Gotta have at least 25% down + closing and 6-12 months reserves if you want to go solo. Or partner up with an experienced flipper and do 10% down + closing and no reserve requirement