All Forum Posts by: Jerry Starr
Jerry Starr has started 0 posts and replied 7 times.
Post: Trying to figure out my financing options

- Lender
- West Palm Beach, FL
- Posts 11
- Votes 4
Hi Blake,
We would love to assist and were located in Florida, take a look at our criteria below and let me know if you have any questions - our process from application to close is less than 10 days and we only require BPOs on most properties..
Non-Owner Occupied 1-4 Family Real Estate; Condos;
Up to 90% of the Purchase Price + 100% of the Renovation Cost; Not to Exceed 75% of the ARV
12 month terms
loan amts from $100k to 2.5M
Rates from 7%
Jerry Starr
Originally posted by @Blake Stringer:
Hey everyone! My name is Blake and I am currently in the process of trying to land my first deal.
I’m trying to figure out a couple ways to finance my first brrrr. I have a way to raise the down payment but the rehab is the problem. My real estate agent has told me about the fha 203k loan, but I was wondering if I had any other options? I am going to try to put in as much sweat equity as I can but the rehab is looking to be around 50-60,000. The numbers are working even after rehab and I am desperate to land this as my first deal. I want to be as creative as I can and I have the people to help out with the rehab.
From my understanding, the fha 203k loan is looking to be a big mess and monotonous. Are there any private lenders willing to work with a newbie?
Post: Joint Venture financing for fix and flips

- Lender
- West Palm Beach, FL
- Posts 11
- Votes 4
@dougsmith is correct. I couldn't have said it better myself.
Post: Anyone done business with Black Onyx Lending?

- Lender
- West Palm Beach, FL
- Posts 11
- Votes 4
Yes i would have to agree, Black Onyx is nothing more than a broker and a bad one at that. One major red flag as jay mentioned - if someone asks for upfront fees, " RUN"
Post: postcard companies

- Lender
- West Palm Beach, FL
- Posts 11
- Votes 4
i just ran them through a printer and dropped them off at the post office myself, doesn't take long - quickly do a mail merge and print away. simple
Post: How to find abandon home owners

- Lender
- West Palm Beach, FL
- Posts 11
- Votes 4
look under the property appraiser website, in Florida its free but most cities unfortunately you have to pay for access, you can also try to send a letter - if they don't reside there it will hopefully foreword to their new address..
Post: Riverdale Funding

- Lender
- West Palm Beach, FL
- Posts 11
- Votes 4
I would have to disagree about working with Riverdale Funding www.riverdalefunding.com - they are not very competitive when it comes to rates and fees. I would suggest ( Bloomfield, navesink river capital , national equity funding, longhorn investments, fairview lending, owemanco ( FYI : 8% +2 PTS on most deals ) and a-list partners ) if you want something that is realistic -. I've been in this space for 10+ years and have closed a tremendous amount of commercial with rates typically at 12 + 2 or 3 at the most - Riverdale Funding needs a #Realitycheck
if you are looking for Hard money lenders that understand the business and are willing to work with you on getting the deal done, i would highly suggest going to the Pitbull conference, most of the lenders in attendance have been in this space for quite sometime and are very motivated to earn your business and make deals...
( https://pitbullconference.com/ ) they also have an extensive list of lenders on their site..
Post: Team Leader from Central Florida

- Lender
- West Palm Beach, FL
- Posts 11
- Votes 4
Welcome,