All Forum Posts by: Darrin Carey

As a private lender, I'm suddenly getting a lot of requests for three things that concern me.

1. Lending the Downpayment (behind another hard money lender)
2. Lending all the borrowers closing costs
3. Lending funds for putting up earnest money

Personally, I think putting up money for those items as a lender is EXTREMELY HIGH RISK. Out of 500+ loans I've done, only a very few have had problems.
Every one that had a problem had one common feature, the borrower had little to none of their own money in the deal. (Early ones, I didn't know better. The couple recent ones, the borrowers lied about it, and I found out later. Those borrowers made the forever banned list. Not because the deal went bad, but because they lied about the source of funds, and ghosted everyone went the rehab got hard)

Is there someone out there teaching this as a strategy to borrowers and potential lenders? 
Are people really making these loans? AND getting paid back?
Am I missing something here?

Darrin Carey

Come join Dayton area Real Estate investors for food, fun and beverages. Build your network and meet other Dayton investors. This is a networking event to make connections, share knowledge, experiences, strategies, and have a little fun while we're at it. We promote teamwork with your peers to help everyone succeed.

Here you can learn something, find a deal, sell a deal, or find that agent or contractor you're looking for.

Join us: T.J. Chumps in Fairborn, OH, right off interstate 675. We'll be in the private room on the left past the hostess station.

Oh, you should expect 60-70 people to be there. The event says it ends at 8pm, however, some of the real estate addicts stick around and close down the restaurant.

This event occurs on the second Monday of every month, same time and location.

Come join Dayton area Real Estate investors for food, fun and beverages. Build your network and meet other Dayton investors. This is a networking event to make connections, share knowledge, experiences, strategies, and have a little fun while we're at it. We promote teamwork with your peers to help everyone succeed.

Here you can learn something, find a deal, sell a deal, or find that agent or contractor you're looking for.

Join us: T.J. Chumps in Fairborn, OH, right off interstate 675. We'll be in the private room on the left past the hostess station.

Oh, you should expect 60-70 people to be there. The event says it ends at 8pm, however, some of the real estate addicts stick around and close down the restaurant.

This event occurs on the second Monday of every month at the same time and location.

@Shera Linares,
The monthly in person meetups are going again. About 60 people attended in Oct. Here is the link to the BP events page.
https://www.biggerpockets.com/...

In the past 3 months, I've seen several new investors refi their first BRRRR deals. They're started off well.

@Todd Snelling Yes they are. We had about 60 people in October.

@Lamont Marable
This event occurs on the second Monday of every month at the same time and location. We just had one Monday this week, and will do it again on Nov 8 and Dec 13 of 2020. There are event posts for those two also.

Start the New Year off right!
Come join Dayton area Real Estate Investors for food, fun and beverages. Build your network and meet other Dayton investors. This is a networking event to make connections, share knowledge, experiences, strategies, and have a little fun while we're at it.

We promote teamwork with your peers to help everyone succeed.

Here you can learn something, find a deal, sell a deal, or find that agent or contractor you're looking for. We will do a buy-sell-trade during the event.

Oh, you should expect 60-70 people to be there. The event says it ends at 8pm, however, some of the real estate addicts stick around and close down the restaurant.

This event occurs on the second Monday of every month at the same time and location.

Come join Dayton area Real Estate Investors for food, fun and beverages. Build your network and meet other Dayton investors. This is a networking event to make connections, share knowledge, experiences, strategies, and have a little fun while we're at it.

We promote teamwork with your peers to help everyone succeed.

Here you can learn something, find a deal, sell a deal, or find that agent or contractor you're looking for. We will do a buy-sell-trade during the event.

Oh, you should expect 60-70 people to be there. The event says it ends at 8pm, however, some of the real estate addicts stick around and close down the restaurant.

This event occurs on the second Monday of every month at the same time and location.

Come join Dayton area Real Estate Investors for food, fun and beverages. Build your network and meet other Dayton investors. This is a networking event to make connections, share knowledge, experiences, strategies, and have a little fun while we're at it.

We promote teamwork with your peers to help everyone succeed.

Here you can learn something, find a deal, sell a deal, or find that agent or contractor you're looking for. We will do a buy-sell-trade during the event.

Oh, you should expect 60-70 people to be there. The event says it ends at 8pm, however, some of the real estate addicts stick around and close down the restaurant.

This event occurs on the second Monday of every month at the same time and location.

The sale argument tends to work for the schools, just not investors.

We use comps, property photos, condition reports, purchase/rent concessions, and more to support a more accurate value. Increased vacancy and expenses (common for properties I buy) would certainly impact the property value.

Unfortunately, I've found that sometimes I've overpaid for a property because I overlooked some serious maintenance/capex/tenant issues, and I haven't been able to correct them in the year purchased.