All Forum Posts by: Debi Brown

@jenni rivera I ended up getting a partner who obtained personal loans for the amount of the project. Reno is almost done and I expect to get a HELOC to pay off the loans once completed.

I have brought two deals to Direct Lending Partners and have not only not closed one, but have had very poor and professional customer service from Craig Yarnell. 

First one I paid for the appraisal and despite both my comps as well as my realtor doing a full market analysis, they appraised the property at what was paid for (20% below market comparables) but also appraised the ARV at 50% of market comparables. When I was strong along until 5 days before closing (not allowing me sufficient time to put plan B in place (my lesson learned!).

Second deal, I spoke with Craig prior to bidding on a house bring offered by HUD. I was assured there would be no issues, they have funded these loans many times. Craig couldn't get a lender's letter over that would satisfy HUD and refused to answer my or my realtors phone calls or emails.

I was also told I was approved for a $500,000 line of credit, with a 1% fee for set up. But the whole appeal to that line was that they would find quickly and for small properties (under $75k). When I called about the 2nd deal, a "new policy" went into effect that nothing less than $75k ARV will be considered for funding.

It appears they make their money making promises and charging outrageous fees upfront without ever closing a loan. If anyone has actually closed a loan with them, I would be interested in hearing about it!

@Andrew A. Sorry, I missed you... will send to you as well.

I have been in the same boat in Illinois very recently, it's beyond frustrating when you find a good deal but it isn't big enough to get funding! I have a guy that might be able to help out. I will DM you @Daniel Vandevender and @Aaron K.. Anyone else want his info, please contact me. 

Looking for private money for a $30k purchase on a 1 + acre and 2/2 house with 2 car garage in town with college and large distribution center nearby. Already have good renter for 1 year lease. Need $ for closing on Jan 30th. Can structure for 1 yr loan at 5 yr amortization for 8-10% giving a profit of approx $2500 in this year period. Have money sitting around or ability to get loan with low interest? What are savings/money markets paying today? Not 8-10%! Contact me if you are interested

Found an amazing little house in a college town, sale at $28k, valued at $56-$71k with closing on Jan 30th. I have an amazing 31 yr old renter already to sign the 1 yr lease. My closing on other property fell thru and now I am scrambling trying to get financing for this house. Traditional and hard money lenders both are requiring min of $50k loan. I'm looking for either someone to be my 'hard money lender' for 6 or 12 mos OR assign the contract with the understanding I want to purchase this house cash as soon as my other house closes OR become partners for this particular property and work out an agreement.  Please contact me if interested.

Hey @Alexander Ramos, I will not be in town that date, but please keep me posted for future meetups! I would love to attend and met others in the area! 

Hi Andy,

Could you email me info on this property please? 

[email protected]

@Alexander Ramos  I will be out of town (in colorado) that date, but would be very interested in a meeting in the month of November, when I will be in Chicagoland area! Do you plan to have them monthly? or how frequently?

Thanks for the info ~ would love to connect!

Hi Patrick ~

  I can tell you a couple to stay away from in Denver. Depending on what work you are looking to have done, I may have some recommendations for you. PM me if you wish. Good luck ~ Debi