All Forum Posts by: Account Closed

Although I believe you can always look around for the best rates, building a relationship with a lender benefits you in multiple ways.. Faster closings (documents already in system), better rates (trust is built, experience is documented), and negotiation rights (we trust you, we know you're good for your money so we are willing to give you more leverage than a new comer)

Hope this helps!

Hello, @Justin Golden

I recommend trying a hard/private money lender. With a HML, we typically do not require any proof of income such as W-2s, tax docs, etc. Really, bank statements are all that are verified to ensure you have the funds needed to close.

Would love to chat if you have any questions!

 Hello, @Enes A.! 

Hard money lenders can lend on the land and the construction build. I see you have a similar project. If you'd like some info or guidance, I'd love to chat.

You should learn how their rehab budget is disbursed. For instance, most hard money lenders, like myself, provide rehab funds in draws on reimbursements. So, each mini project that is completed by the contractor has to be paid by you and then reimbursed. This ensures the HML is only paying on fully installed projects , not on extra materials that were never used. Also, ask if there are any fees per draw on the rehab.

Hope this helps

Hello, Bigger Pockets members! 

I am looking to connect with seasoned investors. Would love insight on your financial strategies. Thank you! 

Hello! 

I just used a company called R&R roofing. I believe they are based in Tucson, my service was for Sahuarita. They may be able to service Sierra Vista. They were super responsive, gave us a discount from what we were quoted with a bigger roofing company and got the job done 2 days after my request! I definitely recommend them.

Hope this helps!

Hello! 

Don't know if this is your kind of thing, but you can hire drone coordinators that will take really high footage videos/photos of your airbnb from above/around as well as the attractions around it. A lake would look great on video with the house. Just a thought. The drone business is booming in real estate.

Hello! I'd love to connect. 

Congratulations! 

I have always been so envious of people that are realtors and investors. It's a genius move, honestly. 

Hi Abigail! 

A HML is definitely the way to go on this. HML's are as good as cash offers in most cases which gives you more leverage on your offers. In an auction, it can get a little tricky just because of the range of financing amount you may need on the pre-approval but it isn't impossible. There are HML out there, including myself, who work with new investors. Being new should only give you lower leverage, not disqualification!

I hope this helps!