All Forum Posts by: Richard Huizar

Investment Info:

Single-family residence hard money loan investment.

Cash invested: $55,000

Borrower came to us for cash to rehab this property and small amount of cash so that they can refinance with a traditional lender and pullout max cash. Property is used as an office and music studio. Borrower owned for many years and was free and clear.

What made you interested in investing in this type of deal?

Length of ownership and that it was free and clear. Borrower had done some work already so they had plenty of skin in the deal.

How did you find this deal and how did you negotiate it?

Broker brought me this deal.

How did you finance this deal?

Hard money loan from my company

What was the outcome?

Borrower is starting rehab and will complete and refi to pay me off

Investment Info:

Single-family residence private money loan investment.

Cash invested: $75,000

Borrower Purchased land and started construction out of pocket. Needed funds to finish construction so they can refinance and hold. Borrower had detailed records of all monies spent to date. Owner builder with tons of experience.

What made you interested in investing in this type of deal?

Borrower large cash position invested.

How did you find this deal and how did you negotiate it?

Borrower answered my online advertising.

How did you finance this deal?

Private funds from my retirement account.

How did you add value to the deal?

Borrower is a seasoned builder with significant cash invested into this property.

What was the outcome?

Funded in 21 days and he will complete the home is 90 days.

Investment Info:

Single-family residence private money loan investment in Seattle.

Cash invested: $785,000

Borrower invested over 1m in the land and construction of this Coastal home. Needed funds to finish quickly. Quality Construction! Right on the water.

What made you interested in investing in this type of deal?

The amount of cash and commitment borrower had invested into this property.

How did you find this deal and how did you negotiate it?

Broker Referral

How did you finance this deal?

Private Money Loan

How did you add value to the deal?

Great Comps for this coastal property. With the amount of cash invested, makes this no-lose deal for our investor.

What was the outcome?

Closed loan within 30 days

Lessons learned? Challenges?

Building on the coast line can have some added challenges to setbacks. Best to follow your survey to the letter.

Investment Info:

Condo private money loan investment.

Cash invested: $200,000

Borrower needed cash out on his investment condo for back taxes and rehab work on his primary. Good rental income from this upscale condo in nice area.

What made you interested in investing in this type of deal?

GREAT LOCATION AND GOOD RENTAL INCOME. LONG TERM OWNER NEEDED CASH QUICKLY

How did you find this deal and how did you negotiate it?

BROKER FROM CALIFORNIA

How did you finance this deal?

PRIVATE MONEY LENDER STEPPED IN WITH FAMILY TRUST FUNDS

What was the outcome?

CLOSED DEAL

Investment Info:

Single-family residence private money loan investment.

Cash invested: $50,000

Borrower needed cash out to buy more property. Since this was a small balance loan, we crossed collateral another rental property as added security. Seasoned investor well versed in the current market. Great cash flow on both properties with long term tenants.

What made you interested in investing in this type of deal?

Repeat borrower with extensive RE portfolio. Credit challenged.

How did you find this deal and how did you negotiate it?

Repeat borrower

How did you add value to the deal?

Private money bridge funding. 24 month deal

What was the outcome?

closed in 15 days

Investment Info:

Other buy & hold investment.

Purchase price: $385,000
Cash invested: $270,000

Borrower paid cash for property and needed some minor rehab funds and start up funds to open day care in prime location. Excellent borrower and nice property

What made you interested in investing in this type of deal?

Borrower strong skin in the deal and excellent value

How did you find this deal and how did you negotiate it?

Broker sent me this deal

How did you finance this deal?

We closed using private money funds

How did you add value to the deal?

Borrower's company with strong financials guaranteed this loan.

What was the outcome?

Closed 9.2.22

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Todd Hagerty over at Investment One LLC

Can anyone local fill me in about the area?  Looking at a couple of deals on N Spruce st and N pine street.  Row homes.  I understand there is Govt $ for this area?  Is there stuff selling there?

Investment Info:

Single-family residence private money loan investment.

Cash invested: $65,000

Borrower inherited property from Parents. Home was in need of a cosmetic facelift as the bones were good. Borrower brough all back taxes and utilities up to date. We gave a 65k rehab loan to rehab the property. Borrower will refi property and then rent out. Borrower has great credit and income and the contractor had great references.

What made you interested in investing in this type of deal?

Family home with good ARV and great bones.

How did you find this deal and how did you negotiate it?

Borrower utilized a HM broker to secure financing for this deal!

How did you finance this deal?

Private money loan using a Familty Trust

How did you add value to the deal?

Borrower grew up in this home and was willing to do what they had to, to get this deal done.

What was the outcome?

Closed deal and Contractor has started the work.

Lessons learned? Challenges?

Past due water bills require a final water reading regardless of paid final bill. Start early as the city is running 30 days behind

will Do Phillip.  thanks for the insight.  That is why we used both properties as collateral.  

Investment Info:

Single-family residence private money loan investment in Macon.

Cash invested: $60,000

Borrower purchased two SFR that were in need of rehab for cash. T&M used both properties as collateral for a 60k rehab loan on one of the SFR. Once this is rehabbed, borrower will refi out and pay off our mortgage. The plan is to do another loan on the second SFR with the borrower coming in w a little cash to lower our new loan amount and have more skin in the deal.

What made you interested in investing in this type of deal?

Borrower skin in the deal

How did you find this deal and how did you negotiate it?

Broker referral.

How did you finance this deal?

Private money loan with Private lender for 12 months.

How did you add value to the deal?

Cross collateral both properties for the rehab of 636. Once completed and refi'd, the plan is to swing back and do another rehab loan on 626 at a lower amount since borrower will have some cash to work with.

What was the outcome?

Closed and rehab in process