All Forum Posts by: Coral Hernandez

Hey Thomas

    That is awesome. So often people dont take the initiative to just go out there and do it. You can only research so much, you need real live experience as well at some point, for the research to even matter.

   Congrats. I have seen philly take off as of late. Kudos for shaking off the stigma of Hard Money Loan and using it to your advantage. 

Let's connect and talk about this further,  we are interested in your experience through this process.

Hey Rafahael,

    What is your take on these questions from your experience as a private money lender?

Hey Randy, 

   Just to follow up. What kind of properties are you looking to acquire, and what strategy do you intend to deploy? This will directly affect the type of Lending and Loan that you can use.

    Also, you shouldn't fear the what IF's and not take action because it would go to waste, by not taking action you would be doing that very thing. Deadlines are good because they force you to put in the work that is needed to complete that task, Parkinson’s Law  says, – work expands to fill the time available for its completion – meaning, if we give ourself 2 weeks to compete a task, then we will find a way to make it take that long, or find a way to get it done in that time frame.

     As stated above from others, it is important to know what your purchasing power and options are.

Feel free to Connect, and we can discuss any other issues further 

Hey Pier,

     I like where your mind is at. The more questions you ask the more you will learn. 

     It's good to look at ways to use other people's money, with your own money, to purchase and invest in properties you normally would not have been able to, or would have had to wait substanillay longer before aquiring it.

    I believe as in Investor doing Fix and Flips/BRRR, is important he amount of houses you can put through that process in a given time frame, will directly affect how successful you will be at it. Depending the type of lending you recieve, will determine how many properties you can purchase in a year and at what cost. Everyone's end game is different.

   Hard Mon3y Loans definitely takes your Investment game to the next level. Increasing your purchasing power and opening a variety of other deal, that you otherwise would not have been able to purchase. If you have the right Lender,  and you factor in the correct cost, it's really not that scary at all.

Its important to know what your goals are for Now and in the future so you can best plan each strategy you look to deploy.

@Ivan Loza

Hey Ivan,

   I like where your mind is at. The more questiosn you ask the more you will learn. As well as the people in which respond and lend advice all have their own strategy and different expierences that led them there.

It's good to look at ways to use other people's money, with your own to purchase and invest in properties you normally would not have been able to, or would have had to wait substanillay longer before aquiring it.

I believe as in Investor doing Fix and Flips/BRRR, the amount of houses you can put through that process in a given time frame, will directly affect how successful you will be at it. Depending the type of lending you recieve, will determine how any properties you can purchase in a year and at what cost. Everyone's end game is different, people have different goals in mind on how they will one day retire or semi-retire. That being said, we all pretty much can start at the same point with the same weapons at all disposal, but are paths to the end, most times will be different.

  Its important to know what your goals are for Now and in the future so you can best plan each strategy you look to deploy.

Lets Connect and pick this up further

@Koki Agata

Hey Koki,

   When it comes to wholesalers, most of the time they will require All cash offer due to the time restraints with regards to closing and the time frame in the Contract Language. Each Wholesaler might have the Under Contract language setup differently, but there is usually deadlines within the contract that bind them to certain responsibilities.

    A method that might work for you, depending on the what type of deal and specifics surrounding it, you could take out a Hard Mon3y Loan to purchase it from the Wholesaler, because the lender will allow you to add the wholesalers assignment fee to the loan and its considered an All Cash Purchase. Then after you have obtained the property, you can look out a refinancing it through a Traditional or Conventional Loan. Depending which route and/or Lender you go with for the Refi, each will have their own Seasoning Period (time in which you have owned the property), before you can Refi. (0 months, 3 months, 6 months etc...)

Let's Connect if you want to discuss further or have more in-depth questions

Hey Jean-Paul what is your contact information

@Vanessa Benavidez

Hey Vanessa that is awesome you took the first step at getting into Real Estate. I want to congratulate for getting out of the classroom and into the field.

I would say you have a good problem on your hands and that of an entrepreneur looking to succeed.

Contrary to others belief you have a plethora of options (exit as well) to closing or finalizing your strategy with this property.

I'd say your network of Friends and Professionals are good to lean on for advice.

Depending on your financial situation and partners or lack of, will determine which direction to take next.

Let's Connect

Hey yes you can use hard mon3y at an auction, it is considered an all cash purchase and they can also provide with proof of funds letter if you ask them.

Let's connect and discuss further

@David Beasley

Hey David, it's in your best interest to have it in an entity. You will get better rates and terms. Due your research and see. You don't have to go with the first one that gives you numbers either.

Let's Connect and PM we can talk further.