All Forum Posts by: Dawn Brown

Loan Fraud is never a good idea.  PS, I'm a hard money broker AND a real estate investor.

Getting a hard money loan will achieve your goal of purchasing in an LLC and being able to purchase a property that needs work. Message me if you need further information.

Seller financing is king, but if you must use hard money, be sure you have 20-30% of the purchase price for downpayment, fees, and carrying costs.   Many a borrower has run into trouble by not being prepared for the expenses involved in closing the loan, completing the rehab, and holding/marketing the property till the sale.  Hard money lenders want you to be successful.   When you're successful, they're successful (i.e. they get the return on their money).  I broker in most states, including Illinois.   Let's discuss your real estate investing goals.  Your road to funding starts here!

I'm still awaiting more details from the lender on this new program, so stay tuned!

I've seen various posts from new investors who want to get into the game, but can't, because the hard/private money lenders do not support first time investors.   Experience is required.   Not so anymore!   One of my lenders has a brand new program for first time investors.   Not only that, but they also allow credit scores down to 600!   What a dream come true for new investors.   So if I haven't been able to help you in the past due to a low credit score or lack of completed projects, it's a whole different ballgame!  Submit your deals!   Let's do business together!

The set fees associated with a loan will be a larger ratio of the purchase price, which puts many loans in conflict with usury laws in some states. Also, lenders won't be making much money on a smaller loan, and the risk is greater, which is why it's not in their best interest to fund skinny deals. Getting a JV partner or borrowing from family/friends is a better and less expensive option.

That's a great idea!  Thanks, Rachel.

I'm a broker looking for money for a newbie with this great opportunity.  I appreciate your help!

Can anyone recommend a direct or private lender who can lend on mobile homes that will be placed in a MH Park?   Land is NOT owned.

Absolutely!   Was just in Louisiana in September!  Loved the Tabasco Factory!