All Forum Posts by: Deborah Wodell

Hi Lorenzo! I really admire the clarity and drive you and your wife have—your post stood out. Your mindset is right where it needs to be for real estate success. Starting out is always the hardest, especially when funding is the main hurdle.

If you’re ever open to chatting, I’d be happy to connect—whether it’s just for advice, talking through a deal, or exploring possible lender options that might stretch closer to what you’re looking for.

Feel free to reach out anytime. Would love to see how I can support your first step into the business!

Haven't heard or used them before. 

Would love to get you something good with this deal! 

There are actually quite a few lenders out there who are open to working with first-time investors—especially if the deal makes sense and you have a clear plan. I totally understand wanting to talk to only CT or local lenders, but it never hurts to have other options too. Some national lenders are flexible and still close quickly depending on the deal.

Wishing you the best on your search—it’s smart that you're focused on finding someone who values long-term relationships and can actually deliver, not just talk. They’re out there!

Ask ChatGPT

Hey Tamar! You’re in a great spot to get started. Since you already have an idea of your area, budget, and asset type, you can definitely ask for terms and pre-approval even without a specific property yet. It doesn’t have to be through a broker ONLY—though they can be helpful—there’s nothing wrong with also reaching out directly to a few banks or lenders just to compare and see who feels like the right fit. 

Great convo here and I appreciate how open you are to feedback, Didier!

You're definitely close — the structure will appeal to someone looking to be passive with long-term upside. That said, most investors today are looking for some ongoing return, especially if their capital is tied up for a while. A small preferred return or piece of monthly cash flow (even short-term) could really help.

I like the idea of offering principal payback first, then a smaller equity split or residual cash flow. Also, securing them on title after refi is a solid move — maybe just clarify those protections early on.

Looking forward to seeing how you structure it!

Talked with one of their reps before but haven't done a deal with them yet. Could probs get better rates if you have a good credit and exp. 

Hey Kyle — yeah, a lot of lenders say 75–80% LTV, but then underwriting tightens it to 70%. I've run into that too. That said, I've also worked with lenders who do fund up to 75–80%, so it really depends on the deal specifics — things like property condition, rent coverage, and borrower profile.

That said, if you're only looking to pull $15K–$25K, that’s a pretty tight margin after closing costs and fees. You might want to consider an SBA microloan or a business line of credit — it could be more efficient than tapping your rental’s equity just for a small amount.

Totally hear you, James. Private money can be a lifesaver — fewer hoops, less paperwork, and more flexibility compared to institutional lenders like Conventus. I personally lend my own funds from time to time when a strong deal comes up, and it’s definitely simpler when you're not dealing with underwriters asking for two years of bank statements and source verifications.

That said, there’s still risk on the lender’s side. I’ve had borrowers who seemed like great people with solid deals, but when the time came to repay, things fell short. It’s a reminder that with private money, you’re not just evaluating the deal — you're also putting a lot of trust in the borrower. And when it's your own cash, that risk stings more. So even private lenders are becoming more cautious nowadays.

It's a powerful tool, but like anything in real estate — trust and due diligence are everything. It’s all about finding the right fit and building real trust on both sides.

Appreciate you sparking the convo

Hey Stuart — your lender’s right in general: seller concessions usually can’t go toward your down payment or repairs, just closing costs and rate buydowns. “Walking away with a check” is more common in creative financing or off-market deals, not traditional lending. If you’re leaving money on the table, you might ask your lender if you can use the excess for prepaids (taxes, insurance) or even a rate buydown. Worth a shot before closing!