All Forum Posts by: Celia Lumbroso

@Devin Sidbury

Hi Devin- the advice I can provide is to try to take advantage of the Local meetup groups tab on BiggerPockets.  

I am based in Los Angeles and have had luck with this BP tool.  I hope you find the ideal investors! 

Hi @Ruben Helo

This is too small for our credit box but more than happy to provide a referral that can assist with this transaction.  Reach out to me if you're interested. 

Thank you. 

@Alex Sinunu If you want to start lending out your own money I would strongly advise partnering with 2-3 other members at minimum.  To avoid taxes down the road you may want to setup your own offshore fund and get an attorney involved as CA is expensive to lend in. 

Hi @Adam Schumacher I can give better rates, faster closings, and better customer experience than others have previously commented on here.  Please contact me if you're interested. 

Hi @Abdel Bah, 

100% purchase and rehab funding is a stretch for any lender out there. 

The lack of experience is an issue. 

If you flipped 5+ properties in the last 2 years you would have better leverage and may be able to get close to 100% purchase/rehab but not full. 

As Jay stated- if you provided another property to cross-collateralize the deal with a lender may be open to this situation. 

Happy to chat more in-depth on this- contact me if you're interested. 

Hi Andrew- I can answer your questions.  Please contact me when you have a moment. 

Hi @Benjamin Foullon

DSCR loans look appealing from a birds eye view but you will be stuck with a DSCR loan longer than you would like.

-Most lenders require 5 years of payments upfront for DSCR

-Most lenders require a variable rate attached to DSCR vs a fixed rate which means your interest rate could drastically increase during the life of the DSCR loan

Happy to discuss alternatives- please contact me if you're interested. 

Hi @Ryan Dori, 

Yes, there are lenders that will help you out for mid-construction related projects.  They will most likely require collateral on these transactions and will take the subject property as collateral.  Other lenders may take your primary residence as collateral for mid-construction loans- it all depends on the lenders criteria. 

Happy to discuss this further in detail, please contact me if you're interested. 

@Ron Hollingsworth 11/1 PT in the current state of the market is really good.  I would not be upset at this rate at all.  Most lenders are charging more. 

@Jaylen Jones I would say a conventional loan is not a good way to start fixing & flipping.  

The hard money/private lending space provides higher LTV rates and less money down. If you would like to discuss further please let me know.