Disclaimer: BiggerPockets does not support or sponsor any meetups unless otherwise noted. Do your due diligence before attending any events. You may be agreeing to attend an event that includes promotion, pitching, or high-pressure sales tactics or techniques. Poster certifies that there will be no pitching of products or services at this event.
Investor · Chicago, IL · Member since 2013 · 2k+ posts · 1k+ votes
Do you want to MORE MONEY so you can buy MORE DEALS in 2015?
On December 3, 6:30 PM (Chicago time), in our Downers Grove office, you will meet 2 lenders:
1) My private lender - this lender funds all of my deals and he wants to fund more deals. His rates are lower than hard money and he can lend money even to beginners.
However, my private lender only funds single family homes and up to 4 unit apartments. If you have a 5-unit deal or bigger you want to fund, that's where lender #2 comes in.
2) CIC (Community Investment Corporation) - this lender funds up to 80% of your total project cost for 5 units and up. The cool thing about CIC is that their interest rate is super low - 4.5%! How can they do this when other commercial lenders can't? Because CIC is a Community Development Fund Institution - a designation by the Department of Commerce on specialized lending institutions chartered to help revitalize communities. CIC can even get you GRANTS so you can have a building with practically NO MONEY DOWN.
This event will probably NOT be repeated. We are fortunate we are able to get both CIC and my private lender to be at this meeting.
If you want 2015 to be your best year yet, you need MORE MONEY to buy MORE DEALS. Come to our FREE event where you get a chance to get-together with 2 lenders who can change your business for the better.
To RSVP, email me at [email protected] your PROOF OF FUNDS. You don't need to have a LOT of cash to be able to meet these 2 lenders (just $10K or $20K POF will do). Why do I limit this to people with a little bit of cash vs. opening this to everyone? Well...if you're serious in investing in real estate, you still have to pay some money as earnest money, or points, or closing costs (and in the case of CIC, you need 20% downpayment). My lenders will help you with the rest.
There are only 10 seats in this event as we deliberately keep it small. Why This get-together is for SERIOUS INVESTORS only who want to do DEALS.
Are you a serious investor? If so, attend this event this Wednesday - December 3, 6:30 PM.
I recommend CIC as an investor friendly multi-unit loan entity. They were able to walk us through from start to finish on a 19-unit in the Park Manor neighborhood of Chicago. I'll be at the event to talk about my experience with them. See you all there!
CIC will work with foreign investors. From my understanding from my loan officer at CIC they want to work with seasoned investors when dealing with distressed areas.
We are NOW officially over-booked with 14 RSVPs (and there are only 10 seats!). However, there are always last minute cancellations. So, send me a text message at 714-270-6438 after emailing me your POF. If there are some last minute cancellations and there are opened slots, I will text you back our address. If there are no cancellations, I will text you back the next date we're having our Buyer-Lender Get-Together. The only thing though is that CIC probably will NOT be in our next Lender Get-Together.
UPDATE: Our Lender-Get-Together was great last December 3. We were overbooked as some people invited their business partners and their colleagues. There are 20 people in our conference room that can accommodate only 10 people!
My private lender discussed his terms. A Loan Underwriter from CIC (Community Investment Corporation) came and talked about his company and their loan programs. They can lend money for both acquisition and rehab (up to 80%) like a hard money lender but they have very low interest rates - 5.5%! You can check out more details about them at http://cicchicago.com
If there are enough BPers interested we will likely do this Lender-Get-Together again. If you're interested to be included in the next one, reply below. We feature different types of lenders - hard money, private money, portfolio lender, etc. every time we do this.
Below are some pictures from our Lender Get-Together 2 days ago: