All Forum Posts by: Cam Schwartz

I recently decided to start flipping houses as my full-time job. I’ve known for a while now that I wanted to make a career switch into real estate and was waiting for the right opportunity but decided I was tired of waiting and decided to go all in. I bought a 2-family house in Wakefield a couple years ago that I have been using as a house hack so I’ve had a little bit of experience but not much compared to what I will be doing now.

Currently I have around $50k of savings that I can invest and $300k in my 401k that I am very willing to use, either as a loan (I believe the max is $50k) or a full withdrawal (which should be a little over $200k after taxes & fees). I am looking into all options for funding though, including private money lenders. I think this is the biggest hurdle for me at the moment and the area I am most uncertain about. If anyone has any thoughts on this or general advice about getting into the house flipping business, please feel free to comment or reach out to me.

Been talking to a few active flippers lately, and the question keeps coming up: are lenders still doing 90% purchase + 100% rehab? Some say that kind of leverage has dried up, others say it depends on the deal. Curious what kind of terms people are getting on flips lately — and who’s actually delivering when it comes to fast closings + construction draws.

Question, has anybody used Park place Finance? I have a deal with them right now that was supposed to close today which is not happening. I have 42 years of investing under my belt. Have quite a few LTR properties and good credit. Decided to try a different lender for fix and flip

Hi BiggerPockets community,

My partner and I at Diamond Estate LLC are looking for a hard/private money lender* for a fix and flip opportunity in Maywood, IL, a suburb of Chicago. We are open to either full funding (purchase + rehab) or partial funding for this project. 

- Purchase price is $90K (under contract), rehab is estimated ~$90K, ARV is estimated to be ~$300K. Timeline is ~5-6 months.

Feel free to reply here or send a connect & DM, and we can share more details of the project. Thank you for reading and looking forward to working with a like-minded investor!

I’ve noticed many investors share their wins and challenges around getting funding — especially once they’re already under contract. Thought I’d open this up to hear how others are handling it.

If you've had a deal under contract recently — whether for a fix & flip, buy & hold, or BRRR — how did you go about securing funding? Did you already have a lender lined up, or did you begin your search after the contract was signed?

Would love to hear what’s been working for others and any insights you’d share with someone trying to move quickly on a signed deal.

– Tolise Adkisson, Certified Private Money Broker / Lender

Has anyone ever heard of or did business with Breclaw Lenders? We've been looking for a Private Lender to fund one of our projects but we never worked with a private lender before. We came across this company https://www.breclawlenders.com/ and we would appreciate any advice or feedback that any has to offer. Thank you. 

Yo yo @Sammyo Jackson - Do you already have solid connections in all the areas?  Multiple states seem like they would be very challenging.

I am a fellow investor and general contractor here in Chicago.  

Some great Chicago lenders to connect with @Cam Schwartz or @Zack Karp.  Agents @Michael J Scanlon, @Brie Schmidt, @Henry Lazerow - All work in different areas, but are worth connecting with.

I'm looking to cash out refi a SFR rental property in Irving, TX. I live in WA. So I've been rejected by several national lenders now. Is it pretty much impossible? If not, please show me how. Thank you!

Any suggestions for hard money lending in Upstate New York?

I am buying a property that I would like to rehab and sell.