All Forum Posts by: Christopher Blanco

I would argue that Hard Money Lending and Private Lending are two sides of the same coin. I work with a "Private Lender", we are not a bank, we are not FDIC insured, all we do is lend on Real Estate. We are lending from a private capital fund. However because we lend ONLY on hard assets we are considered a Hard Money Lender as well. To call someone a "true" private lender is ambiguous at best.

@Blake Alexander funny thing is I only ended up with one of those deals. Funny how that happens! The duplex didn't appraise for what i thought it would, so I bailed on that one. Deal #3 I couldn't get the wholesaler to come down where I needed.  I did end up with Deal #3 and that turned out pretty well. Since then I have done 2 other flips.

I represent a nationwide HML/private lender who is looking to expand their portfolio of loans. We offer the following products:

Hard Money/New Construction:

• 75% ARV, will fund up to 90% of purchase price and 100% rehab/construction.
• 12 and 18 month terms
• $75K to $7M
• Rates as low as 9.5%
• Low Doc Requirements
• No pre-payment penalties!
• Will work with new flippers!

Buy and Hold

• 30 year amortization
• Competitive Rates

Or you can combine both for a strong BRRRR strategy! Contact me today and let me help you fund your deals!

[email protected]

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@Scott Morrison

If you need more than 70-75% ARV to complete a deal, you are not leaving yourself with enough margin to make a decent profit if something goes south in a hurry. I learned this the hard way starting out.

@Ray Agosto

For a foreclosure auction, most places require the down payment in cash/cashiers checks the same day. 

You can always put multiple people on a loan, married couples, businesses etc do it all the time. The problem becomes that each person you put on the loan needs underwritten and must qualify for the loan. Can you be more specific in what you are hoping to accomplish? 

@Dante Foreman This business is brutal, but if you can keep you mind on straight and keep at your goals, you can do anything. Remember its not about making the fewest mistakes, its about being resourceful enough to rebound from those mistakes, learn from them, and do better the next time. 

@Brady Lamprecht Bookkeeping is an extra service at $99 a month. I just set up QuickBooks with their help, then I invited them to join my QB profile. I do the book keeping but can ask them about how to classify anything I have questions on in the $50 plan. 

I have had both good and bad experiences with "free" seminars. I agree that most are just sales pitches, but I have gotten SOME good information out of free seminars, but most of that good information can be found outside of that seminar on the web as well. Remember that time is your ONLY non-renewable resource, so spend it wisely. 

Christian, I will email you some info on ICG10's lending platform. 

I would love to help you, but we have a minimum loan amount of 75K, so the property would need to be around a 100K. Lets talk anyway if you have time.