All Forum Posts by: Brad Heaps

Hey Christian-  I understand the higher costs associated with private or hard money can be a mental roadblock when it comes to investing.  The win part for the lender is obviously the higher fees they get.  The win for the investor is the "no red tape" that banks have to put you through.  For the investor, it's usually much more seamless, lower doc process.  I agree with the above comment regarding the relationship you will build with a lender.  Once your first loan is done, and you are happy with the lender, the second loan (and so on) will be even easier as they already know you.  We've had clients that just call us with their next project and we can process the loan with very little from them.  I would say to jump on a call with a lender and make sure that they communicate effectively with you and you feel they are transparent.  Communication is key, especially as information is passed back and forth and time is of the essence in these matters.  Good luck with your search and reach out if we can answer questions for you.

Hey Simon-

We would be happy to build a long-term relationship where you can have access to funds at your disposal. We like to work with clients like yourself who are actively pursing projects and looking to grow their portfolio. We at Evergrowth prioritize speed in the process and in responses. Given we will still do our due diligence on the property, but we are able to move a lot quicker than traditional lenders. 

I would be happy to jump on the phone with you and run through your expectations and see if we can build a relationship and get this next project of yours knocked out. I have closed projects in Pittsburgh before, so the area I am comfortable with. There are also strategies we can cover that help you obtain more doors with less money out of pocket, so let me know and we are happy to help!

Hi Paige-

Congratulations on this exciting journey you are starting on. Detroit is a great place. Michigan is a state where lenders will lend 100% of the rehab and 75% - 80% of the LTV. Conventional financing is a great place to start as the interest rates will be lower. However, HML's will move quicker and have more flexibility in their terms, with a higher interest rate. Do you own your own home and have equity in it that you can pull out with a HELOC? Do you have funds to put down on the purchase? Happy to chat and get a game plan in place for you or answer any other questions you might have.