All Forum Posts by: Deshawne Peak

Hello all,

I am looking for a hard money lender in the Mississippi area!

I have inquired through the bigger pockets portal, but I’ve had little luck there. I have a few properties I’m looking to temporarily refinance with hard money in order to pay down debts, increase credit score, and ultimately refinance with a bank. I also have a deal I’m looking to close quick with hard money, already cash flowing. Please if anyone can point me in the right direction I would greatly appreciate it!!

@Vasundhara Ranjani

I know which property you’re referring to, are you still interested in selling?

@Ty Ottaberry

You’re willing to give away a parcel of land if someone gets this individual to sign the deed?

Hello everyone,

My name is Peak, I started my real estate journey back in April of 2019. Before i get into the meat of things i think I should share a quick backstory:

I started reading books and looking into wealth creation within the past year, shortly after found BiggerPockets and the benefits of real estate. I am a recently commissioned Air Force Officer, but currently facing a long waiting period before starting training here in Mississippi. With that being said I am not being paid by the Air Force, which has made it somewhat difficult to expand my portfolio.

Heres my current situation:

I bought my first foreclosure (primary residence) in April for $70k and have since remodeled and got it cash-flowing using The House Hacking Strategy.

Shortly after, in June, I purchased a Duplex for $22,000 via Seller Financing with roughly $5000 downwhich immediately started cash-flowing and offered a major equity advantage. After visiting a small bank, they appraised the property at $60,000, because this was a “handshake deal” meaning there was no deed of trust or outstanding mortgages against the property i legally own it outright. Despite my unemployment status the bank gave me a $40,000 equity loan against the duplex which opened up major doors...

With the equity loan, i managed to purchase a 10-unit apartment complex for $160,000 with $20,000 down also seller financed. The remaining balance from the equity loan is what i have been using to remodel the apartment complex and it has come along nicely!

This brings me to the title of this post...

In a short time, I have acquired an estimated $500,000 in real estate, with roughly $200,000 in current equity. This has snowballed for me and while i am excited, i have no idea how to access this money given my employment status AND low time and grade in the business. I do have rental income, but the 1-2 year timeframe banks prefer hasn’t passed yet.

In short, I’m running out of money to finish the remodels on my apartment complex, I do have a serving job where i make some cash but not enough to compensate the labor hours and material cost my contractors need to finish up.

What can i do? What would you do? Help me please!

Hello everyone,

My name is Peak, I started my real estate journey back in April of 2019. Before i get into the meat of things i think I should share a quick backstory:

I started reading books and looking into wealth creation within the past year, shortly after found BiggerPockets and the benefits of real estate. I am a recently commissioned Air Force Officer, but currently facing a long waiting period before starting training here in Mississippi. With that being said I am not being paid by the Air Force, which has made it somewhat difficult to expand my portfolio.

Heres my current situation:

I bought my first foreclosure (primary residence) in April for $70k and have since remodeled and got it cash-flowing using The House Hacking Strategy.

Shortly after, in June, I purchased a Duplex for $22,000 via Seller Financing with roughly $5000 downwhich immediately started cash-flowing and offered a major equity advantage. After visiting a small bank, they appraised the property at $60,000, because this was a “handshake deal” meaning there was no deed of trust or outstanding mortgages against the property i legally own it outright. Despite my unemployment status the bank gave me a $40,000 equity loan against the duplex which opened up major doors...

With the equity loan, i managed to purchase a 10-unit apartment complex for $160,000 with $20,000 down also seller financed. The remaining balance from the equity loan is what i have been using to remodel the apartment complex and it has come along nicely!

This brings me to the title of this post...

In a short time, I have acquired an estimated $500,000 in real estate, with roughly $200,000 in current equity. This has snowballed for me and while i am excited, i have no idea how to access this money given my employment status AND low time and grade in the business. I do have rental income, but the 1-2 year timeframe banks prefer hasn’t passed yet.

In short, I’m running out of money to finish the remodels on my apartment complex, I do have a serving job where i make some cash but not enough to compensate the labor hours and material cost my contractors need to finish up.

What can i do? What would you do? Help me please!