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All Forum Posts by: Mike Davis

Mike Davis has started 1 posts and replied 143 times.

@Daniel JongMin Kim as prior law enforcement @Nathan Gesner makes a great point. I would recommend calling the local police department and asking them to increase foot patrols in the area, especially in the times that most of this behavior is noticed. I would start marketing a "see something, say something" (by this I mean calling 911) and offer an award, i.e. discount on rental payment or something creative to get the residents to stop looking the other way when this stuff goes on.

Post: Looking for someone who Airbnb's in Hawaii

Mike DavisPosted
  • Lender
  • Annapolis, MD
  • Posts 154
  • Votes 70

@David Bain lives in Hawaii and know the market, he may be able to assist.

@Jeff Miller don't discount your credit yet. With that amount of cash on hand, you may be able to do something. If you decide to speak with a HML, let them know the entire story of the credit issue, if they can't help, they may be able to point you in the right direction.

Post: 1918 Judson Street (White House)

Mike DavisPosted
  • Lender
  • Annapolis, MD
  • Posts 154
  • Votes 70

@Kolby Montross strong deal! It sounds like you have the perfect set-up for doing this. Did you do a mailer to locate the property owner for this deal?

Post: All this equity and no clue!

Mike DavisPosted
  • Lender
  • Annapolis, MD
  • Posts 154
  • Votes 70

@Brittany Snyder would need more information to give you a more solid "suggestion" on what to do. Are you on a fixed income, or employed, do you have reserves, do you know your credit score? With this information, you will get more accurate information on how some investors may go about this.

Post: What’s the Secret sauce?

Mike DavisPosted
  • Lender
  • Annapolis, MD
  • Posts 154
  • Votes 70

@Brandi Jenine hard money lenders (HMLs) will prefer to do these in the LLC. You may have to sign a personal guarantee when placing in the LLC, as long as payments are made, it will not report on your personal credit file. If you transfer a property from your personal name into the LLC, make sure there are no issues with the title insurance in doing so.

Post: Getting Loans with no income??

Mike DavisPosted
  • Lender
  • Annapolis, MD
  • Posts 154
  • Votes 70

@Scott Bidwell There are hard money lenders (HML) that will finance fix & flip loans and will not require employment because the flip loans are asset based. Since you have the reserves, you can make that happen. Most HMLs will require you to do this under a business entity.

Post: Had a lender tell me...

Mike DavisPosted
  • Lender
  • Annapolis, MD
  • Posts 154
  • Votes 70

@Lori Williams there are some HMLs that can offer REHAB lending of $100K or more in your situation. Good Luck!

Post: Best lenders for home equity loans under 100k

Mike DavisPosted
  • Lender
  • Annapolis, MD
  • Posts 154
  • Votes 70

@Roy Massey there are HMLs that will do down to $75K or can offer LOCs. In some cases the LOCs can be unsecured.

Post: hard money bridge loans

Mike DavisPosted
  • Lender
  • Annapolis, MD
  • Posts 154
  • Votes 70

@Lydie Darrah more information would help, is this your first project? Exactly what problem(s) did you run into? Was it only the proof of funds?