All Forum Posts by: Joe Dillamore

@Rebekah L Bunn Is your strategy to purchase and then try and re-sell within a few months? If so, this is bread-and-butter for hard money lenders. I founded a platform that helps investors find and compare hard money lenders. You can take a look or feel free to get in touch to discuss

@Tyler Underdahl It's a scam

@Geoffrey Serdar Don't do it!

@Michael Nelson Aside from the deal numbers, the three key things every lender's going to want to know are: (1) FICO, (2) experience (i.e. # of similar projects completed in the last 2-3 years where you were on the title), and (3) liquidity.

They'll obviously need to verify this info as part of underwriting, but if you know these 3 numbers off the top of your head, most lenders will be able to give you indicative terms.

@Lucas Koster Good to meet a South Carolina native on here! I'm based up in Greenville. I own Hardback, a platform that helps investors source finance for fix-and-flips. I'd love to connect - my contact info is below if you'd like to chat

Matthew, I may be able to help out. We have a platform that matches investors to hard money lenders, including on mixed-use in PA. Let me know if I can help

@Ricardo Taboada Lenders approach construction loans like this in a variety of ways. Do you purchase the land free and clear and then look for finance, or are you needing funds to purchase as well?

If you're happy to send me your project details, I can help you compare your options. I own Hardback, a platform that matches investors to funding options on projects including new construction

@Miranda Yanez One thing you'll want to bear in mind is that lenders typically have minimum fee requirements on projects of this size. I work with lenders that can fund in St Louis, though, so feel free to send some info my way and I'll see what I can do!

@Anthony Torri I know a few lenders that are experts on mixed-use and will be a good go-to with this. 20% down may be ambitious, but I'd me more than happy to reach out on your behalf. As a little about me, I own Hardback, a platform that matches investors to funding options on projects like this

@David Rodriguez Finding the right lender is going to be key for a 6-unit. There are some that will underwrite it much the same as a 4-unit (so long as it's 10 units or below), whereas other consider this "true" multifamily and have heavier requirements. Are you purchasing to rehab and hold?