All Forum Posts by: Eric Benzenhoefer

I would check the Fee breakdown with them compared to other local or national lenders.  For Houston, their fees were WAY higher than others (this was 3 years ago).  Their interest rates and origination points we competitive, but it was the extra fees that broke it. They should email that info to you if it is not on their website.

Need to secure funding for the following?

• 30 year private money for a SFH rental
• Rehab / Fix and Flip
• Temp to Perm / Buy Rehab Rent Refi (BRRR)
• Hard Money

While the general rates and loan parameters can be seen here http://www.outsourcemyfunding.com/ ,this is a world of tradeoffs.  

Contact me through BP, the website above, or [email protected] today, and we will work together to get the loan that meets your specific needs.

Working in: Colorado, Georgia, Illinois, Maryland, Michigan, Missouri, Ohio, Pennsylvania, South Carolina, Texas, Virginia, Washington, West Virginia

So it this a Buy, Rehab, Rent, and refi to hold strategy? Or do you plan on selling?

@Stephen Marks - There are sections of the site designed for people exploring and deciding on a niche for them.  I went from flipping to wholesaling to rehabbing to property management to agent to owner financing and finally settled on loan brokering.  

I started reading here - https://www.biggerpockets.com/real-estate-investin...

and then I learned more on the niches that interested me by searching for those niches in the podcasts https://www.biggerpockets.com/podcast

I am also bias towards aiming high and partnering 50/50 with experts, once you find a niche.

@Deborah Wiggins, I would recommend reposting your question  here https://www.biggerpockets.com/forums/50-creative-real-estate-financing

What is the purchase price, square footage, and ARV from comps?

@Tony Fulco, are you talking about flipping to build cash and investing that in rentals? Or are you moving from Buy, Rehab, and Sell to the Buy, Rehab, Rent, REFI strategy (searchable as BRRR)?

What sort of cash flow history does the property have?

Does anyone know of a reasonable explanation of why would the developer pay $75,000 hold you to hold it for 6 months? That is a lot of of tiny bars of soap...

@Hal Cranmer, I do not ask to be provocative, but rather it seems that you would need to answer a question like that before moving on, correct?

If you agree, how about tagging this forum with some of the people from this discussion? https://www.biggerpockets.com/forums/32/topics/233... 

I only seem to be able to tag people who are my "friends" or who are in the current forum

Have you concidered a company that does small loans such as https://www.prosper.com/? 

 https://www.biggerpockets.com/forums/12/topics/215790-prospercom

Great thread here. 

I believe that I had similar thinking as you @Scott Trench when I was marketing to single family houses on the tax delinquent role @ $100k each. I saw the commercial list of $2-5MM properties with $50,000 in back taxes. I thought, why not just spend the year hitting one home run?

I directed my marketing to commercial and ended up with my first real estate flip of an 11 unit apartment building. My experienced partner and I were rewarded with a 6 figure profit to split, but also we a lost 5 month $30,000 over plumbing drawings. It turns out commercial permitting is different than 4-plex permitting, at least (more than we thought).

My opinions:

• Fear does keep people from doing things that are better opportunities, and they will deny it
• We all do not know what we do not know, and therefore are susceptible to making crippling errors when shooting big. 
• If you have the time and money to wait, shoot big, but go 50/50 with someone who has experience to accelerate your growth and protect yourself from big errors.