All Forum Posts by: CJ Berina

Hey @David Sanford

Have you talk to any HMLenders? I can check with our investors if they would lend this. 

Maybe we can lend on it so you don't need to raise the cash and can close the deal quickly since it's under contract, then when you have it, maybe try to get lease extensions signed so you can refinance out into another long term loan before our short term HM loan ends.

Let me know your thoughts on if you want me to look into this for you. 

Hey Peter, 

The closest I got to figuring this out was to add the construction cost to the purchase price, then make the down payment percentage equal your "skin in the game/down payment" plus your construction cost. I think that gets you the closest result that you're looking for, but your "total cash needed at purchase" number will be wrong. 

I haven't used the calculators in a while, but I'm thinking that this calculator assumes that the hard money lender is just charging you on your down payment, then some hard money lenders include the cost of construction in the loan without charging you for it. Or they're assuming you bring cash to the table to close. I'm thinking that's what's going on here. I tried messing with the calculator for a while, and came to the same conclusion as you. They probably need to update this calculator, that or we're missing something. 

Let me know if you ever find the answer. I'm curious to see what it is. By the way, if you ever need an extra hard money quote, let me know. Although the 10% down in your calculations is a pretty good deal in my opinion for hard money.

 If the deal is right, he'll fund it. Send me a message. 

If not him, I'm also a hard money lender, so let's find a way to fund your deal.

@Sam Dorgalli Find a deal, I'll bring a money guy if you have a good deal. He's just waiting for a good deal.

See you all tomorrow!

See you all there!

@John Kiang are you still doing this?

Following this thread. Does anyone know any good agents in Joshua tree? Or recommend any nearby areas?

Great deal! Love how you basically got all that money back after putting the money down. 

Any tips on making that work in other deals?

@James Chu if you go on facebook: go to SFValley Real Estate meetup group. Or message me with your phone and email and i'll add you to our contact list.