All Forum Posts by: Andrew Robbins

You had me at Free Parking.  I'll be there.

 They'll be knocking on your door once you have a few under your belt :)

Thanks for reaching out. It does help. I was on the fence about sending a hypothetical deal to a HML for fear I'd be wasting their time, but looks like you got a response with some numbers you can work with for the future, so that's encouraging. My dilemma still remains knowing whether or not I can get HM and at an acceptable rate when I actually want to make an offer -- especially in a time crunch when there are multiple offers on the table for a property that was just made available.

That's kind of my point. All the HML's I've had preliminary conversations with have given me similar responses: Bring us the deal, then we'll decide whether or not to approve you. I've been through the conventional lending process several times where they make their decision based on me the borrower, as opposed to the specific deal. Am I talking to the right HML's? I haven't met one yet that's going to pre-qualify me regardless of the deal. But if I can find someone like that, it would make things MUCH easier.

I'm considering hard money for a couple reasons. First, I'm afraid that the condition of the property I'm acquiring won't qualify for conventional financing. Second, it seems that any deal that is truly a deal is going to have a lot of buyers swarming all over it -- I don't think I'll be able to compete unless I can close very quickly, and again that rules out conventional financing. Is it possible to line up financing with a HML before I actually have a deal? All my research has pointed to them having to see the specific deal (which I don't have yet) before being approved.

Newbie starting out. Need consultation on how to draw up notes, etc. with family and friends who will be lending private money. And other basics.

I live in Sherman Oaks and work in West Hollywood, so if you are close to either of those, all the better.

Newbie from L.A. here. Trying to make first deal happen. I'm finding that any deal that is truly a deal is going to immediately have multiple offers. Though I have a substantial amount of cash ready to go, I'm still going to need HM to complete the deal. As I understand it, any HML is going to need a whole dossier before making a decision whether to lend me the money. Can I make an offer on a place without knowing if/when I'll get the HM? And isn't it going to take time for the HM to make a decision -- inspections, etc? What seller with multiple offers is going to wait around for that?

Newbie here trying to make first deal happen.  I have friends and family interested in giving me money.  The question is what is the protocol in actually getting it from them -- from a timing standpoint, that is?  I obviously want the money in my account so I can show proof of funds if I want to pull the trigger on something.  But I may not find a deal worth doing until weeks or months from now.  Can I really ask them to pull their money out of a current investment and hand it over to me now?  But if I don't have money in hand to show the seller, how can I close a great deal immediately?  Catch-22.  Please help.

Looking for a hard money lender in Los Angeles. About to flip first SFR.

Looking to buy SFR to fix and flip in L.A. area. Primarily interested in San Fernando Valley, Echo Park/Silverlake, Mid-City, and West Adams, but will consider other areas. Trying to stay under purchase price of $650k. Please contact me with specific properties or please add me to your buyer's list.