financing

17 Replies

commercial and residential financing

Are you looking for real estate loans or are you interested in making private loans to others for buying properties. 

I would entertain alternate financing or find a builder interested in 2 remaining lots of an 8 house subdivision in 27607 suitable for a 4,000+sf SFR on each lot. Solid $800k comps on the other 6 houses.

Originally posted by @Howard Manning :

Are you looking for real estate loans or are you interested in making private loans to others for buying properties. 

 I'm looking for real estate loans

I'm interested in funding a private money or hard money loans. Call me at 310-734-6608 or email me @ [email protected]

@andrew, are you interested in doing some funding in Michigan, I am in the kalamazoo market, It has an average rent rate, and i buy and rehab and hold distressed multi familys under $20k.

Originally posted by @Howard Manning :

Are you looking for real estate loans or are you interested in making private loans to others for buying properties. 

 I'm looking for Real estate loans

Hey guys - I am a Direct private money lender out of San Diego, covering ALL of California, Arizona, Nevada and Texas. Feel free to contact me for more information and assistance. 

Thanks!

Ben

Originally posted by @Ben Stoodley :

@Jeffery Harris 

 let me know how I can be of assistance.

 Hi Ben, are you lending  on a national level or on the West Coast ?, I need to know what are the qualifications to acquire Hard or private money ,when  the lender are not local. I'm not trying to offend any Hard money or private lenders ,but it's a lot of scamming going on in the marketplace. I'm not referring to the BiggerPockets  Network.   Thanks Jeff Harris  

Hi @Jeffery Harris  - I only lend in CA, NV, AZ and TX. I know a few other lenders that lend in other states that we do not lend in, with similar terms as us. 

For most all HMLs, the decisions are made based almost solely on the project itself. The better the project, the more likely the lender will finance the deal. Always be sure to have properties with plenty of good comps in the same neighborhood. Make sure these comps support the value you are basing your numbers off. As long as the lender agrees with your valuations, it should be a pretty easy process in obtaining the loan. 

For example, we are completely asset based. We have no min credit score. Our max loan is 65%ARV. If you're buying a house to flip, and it'll be worth $500k when you're done, the most we'd lend is $325k. This typically allows for between 70-80% of the purchase price + 100% of the rehab construction costs.

That's it, if we agree with your valuation, that's qualifying for the loan. If we get a lower value, we will offer a lower loan amount. 

Hope this helps!

Ben Stoodley

(619)777-8790

[email protected]

Originally posted by @Ben Stoodley :

Hi @Jeffery Harris - I only lend in CA, NV, AZ and TX. I know a few other lenders that lend in other states that we do not lend in, with similar terms as us. 

For most all HMLs, the decisions are made based almost solely on the project itself. The better the project, the more likely the lender will finance the deal. Always be sure to have properties with plenty of good comps in the same neighborhood. Make sure these comps support the value you are basing your numbers off. As long as the lender agrees with your valuations, it should be a pretty easy process in obtaining the loan. 

For example, we are completely asset based. We have no min credit score. Our max loan is 65%ARV. If you're buying a house to flip, and it'll be worth $500k when you're done, the most we'd lend is $325k. This typically allows for between 70-80% of the purchase price + 100% of the rehab construction costs.

That's it, if we agree with your valuation, that's qualifying for the loan. If we get a lower value, we will offer a lower loan amount. 

Hope this helps!

Ben Stoodley

(619)777-8790

[email protected]

 Thanks   Ben, but how do the customer receive the funds. Is it by wire transfer or what.  I understand the numbers. Thanks  Jeff Harris

Originally posted by @Ben Stoodley :

Hi @Jeffery Harris - I only lend in CA, NV, AZ and TX. I know a few other lenders that lend in other states that we do not lend in, with similar terms as us. 

For most all HMLs, the decisions are made based almost solely on the project itself. The better the project, the more likely the lender will finance the deal. Always be sure to have properties with plenty of good comps in the same neighborhood. Make sure these comps support the value you are basing your numbers off. As long as the lender agrees with your valuations, it should be a pretty easy process in obtaining the loan. 

For example, we are completely asset based. We have no min credit score. Our max loan is 65%ARV. If you're buying a house to flip, and it'll be worth $500k when you're done, the most we'd lend is $325k. This typically allows for between 70-80% of the purchase price + 100% of the rehab construction costs.

That's it, if we agree with your valuation, that's qualifying for the loan. If we get a lower value, we will offer a lower loan amount. 

Hope this helps!

Ben Stoodley

(619)777-8790

[email protected]

 Thanks   Ben, but how do the customer receive the funds. Is it by wire transfer or what.  I understand the numbers. Thanks  Jeff Harris  

HI,Ben if you get some time I would like to talk to you. Thanks JEFF HARRIS

Hi @Jeffery Harris  I just sent you a friend request. Yes, money is wired directly to Title. If we are financing the rehab too, then that is held in fund control and released on draws. Give me a call or email to thoroughly discuss and clear up any questions. Thanks!

Thanks Ben,  Will do.  JEFF HARRIS

Jeff,

If you are still looking for funding related to your fix and flips feel free to reach out to me directly. I can typically offer 12-14% interest rates with 3-5 points and up to 65% of ARV. Depending on the project I can sometimes go as high as 70-75% ARV at 100% LTC on the purchase and rehab costs.

Thanks!

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