All Forum Posts by: Billy Brown

I'm a lender here (hard money, commercial, and residential) The numbers still support growth although as an investor, the margins are getting thinner. You will need to think outside the box on structuring deals.

@Brandon Brown I'm an investor here as well as sponsor of the main Rein meetup group.  Are you looking for flips or buy and hold?  Very few flips are going on right now that are profitable.  The majority of investment is new construction.  Buy and hold are very tough to come by. We are looking in the outskirts of the metro and finding some deals.  I'd be happy to connect with you and help.

@Account Closed yes, the private lender would rather have an asset that produces a little cash AND all their cash back (REFINACE is a cash out refinance). Deals are the hardest to come by and more valuable than money.  If someone can bring that to the table i have many people wanting to partner in deals like this.  It's faster and more secure.  

 Looks like with the deep lot, the second unit would need to go in the back?  

Can the existing structure be salvaged?

Correct.  The strategy i'm using is to find private lenders with money, and instead of paying the 12-15%, cut them in the deal.  Since you are going to buy low, add value and do a cash out refi, they end up getting their money back plus half a cash flow producing asset with net none of their own money.

It occurred to me today with my current business strategy that all i am doing is getting further into the rat race.  I'm a NMLS lender, but also broker private, hard money and commercial deals for investors.  The more i do, the more work i create and the less time i have. Yes, i need an assistant but that's a whole other discussion. My plan is to take less of a broker fee and small pieces of the deals that see that are buy and hold. Has anyone done this with success? I'd love to chat with you and buy you a coffee/lunch remotely. Thanks in advance!

Don't pay for an application unless it get's applied to the appraisal. If you are new, there are only a few places you can go to get funding for your project. I have a graduated process with my people. First deal they go with the rookie program, then a local lender, then we get into private money once they know what they are doing.  

I love BRRRR!

What i would suggest would be to use hard money to buy with cash after creating entity, wait 6 months and refinance with the same bank. That way you have it locked up and can improve the property. I'd go with a smaller community bank. We have a few down here that will do 80% LTV off the new value immediately after purchase. granted it's on a 20yr term, but there are no seasoning requirements

If this isn't allowed, please notify me.

I'm the lending sponsor for the local REIN group and MUSIC AND MONEY (Seth Mosely's meet up if you heard his podcast).

i am an investor as well as licensed loan officer who can do creative financing. We are in need of more private money to lend here for new construction and rehab projects. I have access to larger national lending for this, but i prefer private lenders due to speed. The private funds that have been available to me, I have successfully placed and am in need of more.

Money is typically out 4-6 months and is taken out by bank lending (that I verify )for new construction. Or if you prefer to lend on the entire project, we have deals that prefer private money to fund the entire project. Typically we get 12-15% interest, LTV for land 90%, 75-80% of ARV for rehab.

I have deal requests all the time, but the ones that i am working on now are:

3.2 MM for acquisition of 350 new construction

$300k for land acquisition for 6 build in East Nashville 

$750k for 2 new construction units in East Nashville

I also get requests for equity partners in buy and hold deals if that interests you.