All Forum Posts by: Dave McIntyre

I'm an experienced investor w/ a portfolio of SF rentals and one current flip in progress.

Seeking private lender to fund finish of flip I have in Northern NJ. Willing to pay excellent ROI!

Let's connect!

Have flip in Northern NJ I'm seeking to finish and offering 20% interest on $70K secured. We have a portfolio of SF rentals in northern NJ that funds can be secured against.

Subject Prop Info

Location: Essex county, NJ

Type: SF detached

ARV: $900k (was $1m when I bought it)

Debt: $690k

Exit strategy: Sell

Rental Portfolio Info

Type: SF homes (6)

ARV: $4.0m

Debt: $3.0m

We have a portfolio of SF rentals in northern NJ and currently have an opportunity on one of our flip projects.

Currently looking for approx. $70K for a SFH rehab project that's gone over budget for which we'll pay very attractive interest rate (20%).

Seeking: $70k interest only loan at 20% interest for up to 12 months.

Funds can be secured against any of the properties in our selection of nearby SF rentals that have great equity.


Subject Prop Info:
Location: Essex county, NJ
Type: SF detached
ARV: $900k (was $1m when we bought it)
Debt: $690k
Exit strategy: Sale of subject prop

Rental Portfolio Info:
Type: SF homes (6)
ARV: $4.0m
Debt: $3.0m

We have a portfolio of SF rentals in northern NJ and currently have an opportunity on one of our projects.

Currently looking for approx. $50K for a SFH rehab project that's gone over budget for which we'll pay a very attractive interest rate.

Funds can be secured against any of the properties in our portfolio.

Location: Essex county, NJ

ARV: $900k

Debt: $565k (hard money)

We have a portfolio of SF rentals in northern NJ and currently have an opportunity on our latest project.

Seeking private money for a secured investment w/ an experienced team.

Currently looking for approx. $130K for a SFH rehab project for which we'll pay a very attractive interest rate.

Location: Essex county, NJ

ARV: $900k

Debt: $565k (hard money)

Be ideal to turn this into a long term relationship as we are active investors.

We have a portfolio of properties in northern NJ and currently have an opportunity on our latest project there.

Seeking private money for a secured investment w/ an experienced team.

Currently looking for approx $130K for a single rehab project.

Location: Essex county, NJ

ARV: 900k

Be happy to turn this into a long term relationship.

Sounds good, Bruce. Looking forward to connecting.

Hi Angelica,

Just adding my own 2 cents worth here from a deal I did not too long ago:

I bought a prop off Auction.com about 2 years ago. It was on the MLS so I had access to it. After winning the bid I had to provide 5% of the price as earnest money within 1 day of the seller countersigning the contract. Contract closing date was 45 days hence, during which time I got the pre-arranged funding from a HML.

Did not have to show POF as it was online auction. Home was vacant.

Best,

Dave

Hi Austin,

So there are no up-front costs or fees but the lender does charge a 15% success fee for whatever they get you.

On the term loan program that goes from 25k to 300k, the interest rate range is high single digit to higher teens in annual interest. Repayable over 5-7 years though which is very good.

Pls feel free w/ any other questions/comments.

Hi Stephen,

In case it can help w/ your plans, you might also consider unsecured funding. Funds can be used for down payment or gap funding, as well as 100% funding of a purchase.

Be happy to connect.

Best,

Dave