All Forum Posts by: Abu Haq

I wish to flip in Queens / longisland NY .

Estimated LTV around 70 %

i would like to have a 12 month term to provide some cushion as this will be my first flip, with option to pay off early with no penalties. 

I just dont know who to call. 

LENDING HOME ? Very mixed reviews on them online. 

New 3 member LLC

750 ,650 ,590 credit Score 

200k cash in LLC account

+ i am currently a fulltime realtor .

Looking to Fix n flip single family homes

looking to get preapproved under the LLC .

what lenders have you guys used and what were the REQUIREMENTS AND TERMS you are familiar with ? Please share 

Top 5 hardmoney lenders 

thank you !! 

New 3 member LLC

750 ,650 ,600 credit score 

200k cash in LLC account

+ i am currently a fulltime realtor .

looking to get preapproved under the LLC .

lenders i have my eyes on ....

1.lending home

2.capitalf funding financial

3 .lima 1 capital 

what have you guys used and what were the REQUIREMENTS AND TERMS? Please share 

thank you !! 

@kyle altenau 

thank you for your detailed response. I truly appreciate it. 

I am actually a fulltime realtor ,however I speacialize in rentals and low income housing. i also have a few sales under my belt and believe my experience will be a great advantage.

My problem is most of my income is in cash , and I have not filed my taxes this year. ( I know this has to change) 

So I created the LLC with a silent partner,My younger brother. he has a 750 credit score with current income of 60k and can provide last 2 years of taxreturns.

I am a homeowner as well. And my credit is in the 640 range. 

Being that my younger brother is a member and part owner of the llc ...i am hoping we can use his docs .

Do you think that would be possible given my circumstances ? 

lenders i have my eye on 

1.capital funding financials 

2.funding pilot

3.lending homes 

Theese lenders claim no income verification or tax returns required .

Hi,  I will get straight to the point.

First flip.

Im looking to purchase property around december and rehab through the winter. List early spring and sell asap.

i created a llc and opened a buisness account with 200k. 

1.When should i contact lenders ? 

Do i wait till i have a property in mind and draw out a plan/proposal , ? 

or can i get pre approved now ? And how? 

And 

2. How important is taxreturns ? If i dont have it.  

I want the loan on the LLC

But obviously its brand new and no history but a nice chunk of funds in the account. 

Thank you for your time ! Any feed back is appreciated 👍