All Forum Posts by: Barry Inge

I have been hearing a lot about hard money lenders that are willing to fully finance a deal with a 4%-14% fee. What are the typical logistics of the hard money Lender lending at this rate? 

Good morning, 

There are several property management agencies. There’s one I would use if I didn’t manage myself and that is Wilkersons. Are you looking to buy here or you have property here already? 

For someone who is just starting this journey to time freedom and is looking for many methods to do real estate. How likely is it for someone who has 60% and under in DTI(debt-to-income) to obtain a loan? Are there any known lenders that works with high DTI and a mid 600 credits?

View report

*This link comes directly from our calculators, based on information input by the member who posted.

@Kathie Riedel noooo! I was too eager to get the deal done. I have now learn my lesson! 

3 things greatest to least :

-I can execute and write plans.  In my mid 20s,  I was able to created a nonprofit with no education in business.  A man of action, 

-also a influential communicator. 

-I have a great eye for martket analyzing. I can determine the pro and cons of a market.

A few Months ago I was looking into actually purchasing this property and I didn’t have the funds to cover the purchase of the property. I began to look into a hard money sources and the Hardmoney lender Seemed to legitimate and we begin to go through the process and we got to actually making a payment in the payment was 1250.  Initially I paid the 1250 then I had to pay an extra $200 contract fee then after paying the $200 attorney free, and he requested a final fee of $400.  It seemed like every time I paid something there were there was always something else to be paid and I eventually I stop paying,  never got the funding lost the deal. Now I am skeptical about Hard  money lending and confused about what is the true process. Has anyone had any fear of hard money lenders and what were they? 

I am located in the central Virginia area and I am looking to assist an experience investor in their endeavors. I have time and energy. I’m am committed to being successful in real estate investing.