All Forum Posts by: Cam Schwartz

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.

Thanks @Jonathan Klemm!

@Sammyo Jackson sent you a direct message. Happy to connect anytime!

1 Vote

Chicago, Illinois

Quote from @Fay Chen:

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!

Hi Fay, not sure why this would be a complication for national lenders.

We have several borrowers investing out of state including cash out refinances with our DSCR loans.

Have you found a solution? If not, feel free to give me a call and we can help out!

1 Vote

Dallas, Texas

Quote from @Sean Spagnola:

Any suggestions for hard money lending in Upstate New York?

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

Hi Sean, we're active nationwide and also have relationships with other lenders throughout the country.

Feel free to give me a call and I can help you find the right fit.

1 Vote

Upstate New York, New York

Quote from @Jonathan Klemm:

Hey there @Havan Surat - Consider checking with @Cam Schwartz he's a hard money lender in Chicago.

Thanks @Jonathan Klemm!

Havan, great to meet. We're based in Chicago and also have a handful of local lenders in our network. Happy to chat and help you think through your best options. Feel free to give me a call anytime.

1 Vote

Quote from @Nicholas R Facciano:

Greetings BiggerPockets! I'm a young investor (19) passionate about building wealth through real estate. I've been absorbing everything I can about the BRRRR method and have selected a market where I see significant potential. My current challenge is financing. I'm seeking guidance on finding lenders who specialize in asset-based lending, given my limited credit history and the need to finance a distressed property. I'm really looking to connect with experienced investors who've navigated similar situations. Any advice on building relationships with lenders and strategies for overcoming these initial hurdles would be greatly appreciated. I'm excited to learn and grow within this community!

Hi Nicholas, congrats on getting the ball rolling early!

I can share a few notes based on how we evaluate first time investors that will likely be true for a host of other lenders. First-time investors are naturally viewed by lenders as riskier borrowers, all else equal, given the lack of experience. This generally translates to higher borrowing costs and lower leverage (LTV). The more profitable the deal, the better terms you will find across the board.

Finding a profitable deal with a small rehab ($30k or less) in a stable location will generally attract a wide array of financing options even as a first-time investor.

Give me a call anytime if you want to chat through more specific questions!

0 Votes

Quote from @Sam Shikiar:

Hi all - looking for a hard money lender that can offer best terms on a fix n flip loan. Need to be able to close in 30 days or less. Please reach out if you know someone that can help.

Thanks!

Hey Sam, most lenders will have no issue closing within 30 days. As others have alluded to, "Best terms" is arbitrary. Many lenders will offer similar competitive terms that vary based on the borrower's experience, credit profile and deal profitability.

Happy to share specifics with more information. Sent you a message!

0 Votes

San Diego, California

Quote from @Jonathan Klemm:

Hey There @Tiffany Tylon - I'd say you are taking the first right step - asking for help!

Biggerpockets has some great tools to anaylze deals:https://www.biggerpockets.com/investment-calculators

Also, YouTube will go a long way in helping you learn...plus maybe consider coming to some of the local chicago in-person events: https://www.biggerpockets.com/forums/521-real-estate-events-...

Maybe connect with @Cam Schwartz he's a local Chicago lender, and I have seen him closing lots of deals with investors lately.

Are you looking to do deals in Chicago or any particular area?

Thanks Jonathan!

Tiffany, happy to help. In addition to funding fix & flip projects we also work closely with our clients on budgeting and estimating costs. If you have a specific project in mind or numbers to discuss we are happy to review.

Call anytime with questions!

2 Votes

Chicago, Illinois

Quote from @Marc Foster:

New to fix and flip despite 28 years as a GC in residential and commercial construction. Have a property under contract. Not sure if I'll be able to get financing. Have some cash, good credit , all the experience. Can anyone give me some advice? Thanks !

Hi Marc, happy to provide advice where you have specific questions.

Financing options and their qualifications will vary by lender and product. I recommend considering hard money options as they typically have the most lenient requirements, offer high leverage and can move quickly.

Give me a call if I can be more helpful with specifics.

0 Votes

Hi Investors,

We built an algorithm that provides immediate, fully custom quotes for all types of real estate investment projects. Rather than applying and waiting for a representative to reach out, we deliver terms instantly via the Instant Quote feature on our website (link above).

Compete with cash buyers by receiving automated term sheets through Vert's Instant Quote feature - now live and free for all users!

1 Vote

Quote from @Rj D.:

Investment Info:

Single-family residence other investment.

Purchase price: $300,000
Cash invested: $33,000
Sale price: $660,000

This was originally a fix and flip but turned into a LTR when the market flipped.

We put a renter in for 2 years and cashflowed about $500+ / mo.

After approx 1-1/2 years we approached the renters to purchase.

What made you interested in investing in this type of deal?

Good flip opportunity

How did you find this deal and how did you negotiate it?

MLS - sat for a long time

How did you finance this deal?

Hard money

How did you add value to the deal?

Rehab

What was the outcome?

$200k+ profit

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

EJC Partners

Home run deal - congrats! Great to see successful projects in the Chicago area.

0 Votes

All Forum Posts by: Cam Schwartz

Cam Schwartz has started 8 posts and replied 85 times.

Post: Newbie Real Estate Investor

Post: Is it impossible to cash out refi a TX rental property if you live out of state?

Post: Hard Money Lenders

Post: Hard money lenders

Post: Finding financing as a first time investor

Post: Need hard money for flip in SD

Post: Help analyzing fix and flip deals

Post: fix and flip investor and or financing advice

Post: New Instant Quote Feature Provides Immediate Terms & Pre-Approval

Post: Fix and Flip - turned LTR

Cam Schwartz has started 8 posts and replied 85 times.

Rounded Star Post: Newbie Real Estate Investor

Rounded Star Post: Is it impossible to cash out refi a TX rental property if you live out of state?

Rounded Star Post: Hard Money Lenders

Rounded Star Post: Hard money lenders

Rounded Star Post: Finding financing as a first time investor

Rounded Star Post: Need hard money for flip in SD

Rounded Star Post: Help analyzing fix and flip deals

Rounded Star Post: fix and flip investor and or financing advice

Rounded Star Post: New Instant Quote Feature Provides Immediate Terms & Pre-Approval

Rounded Star Post: Fix and Flip - turned LTR

Post: Newbie Real Estate Investor

Post: Is it impossible to cash out refi a TX rental property if you live out of state?

Post: Hard Money Lenders

Post: Hard money lenders

Post: Finding financing as a first time investor

Post: Need hard money for flip in SD

Post: Help analyzing fix and flip deals

Post: fix and flip investor and or financing advice

Post: New Instant Quote Feature Provides Immediate Terms & Pre-Approval

Post: Fix and Flip - turned LTR