All Forum Posts by: Jace Perry
Jace Perry has started 30 posts and replied 105 times.
Post: Who is your favorite 100% LTC 100% rehab lender for experienced operators?
- Investor
- Greenville SC
- Posts 121
- Votes 57
Hello, I have heard there are 100% LTC and 100% rehab lenders for seasoned operators. Curious to see if anyone on here has had any luck finding one? Thanks!
Post: Looking for advice on backflip lender
- Investor
- Greenville SC
- Posts 121
- Votes 57
Quote from @Ryan Davies:
We have heard of them but have chosen not to close deals through them since we have found better options. We have a lot of investors that are way more flexible.
Who is your favorite lender to work with?
Post: Looking for advice on backflip lender
- Investor
- Greenville SC
- Posts 121
- Votes 57
Quote from @Nick Belsky:
They are legit. I've brokered with them quite a few times and while they are not my top lender, they are in the top 5. When the top ones can't/won't do the deal, Backflip usually will and they are super fast and easy. My client's have been happy with the draw process and response times as well. All of their products are Dutch-interest and their highest leverage option is a 1st position with a 2nd position loan wrapped with it to get to higher leverages. Those two things turn some folks off, but if the numbers work, they work. Get in, then get out.
Cheers!
Are you willing to share who your top 2 lenders are?
Post: Help with obtaining commercial lending
- Investor
- Greenville SC
- Posts 121
- Votes 57
Quote from @John Woytanowski:
I'm looking to get into the commercial NNN game but cannot find any lenders that will lend for this purpose unless I have a ton of assets which I do not. Anyone have experience with this or know how to connect with angel investors etc
Hi John, I have purchased over 100,000 SF of commercial in the past three years and can help with some advice. Commercial RE is very complex, and I heavily recommend finding a mentor or hiring a reputable coach to guide you in the beginning. Simply put, there are too many pitfalls that can wipe you out that require an extensive amount of experience to navigate. With that being said, your best bet for lending will be local banks, but they will not lend unless you have extensive experience and a large amount of savings. Therefore, your highest chance of acquiring a CRE property will come from finding a seller willing to carry the note. Once you have enough experience with cash reserves, you will be able to operate as a solo CRE investor operator.
Post: Hiring freelance underwriter for my investments
- Investor
- Greenville SC
- Posts 121
- Votes 57
Hello, I own a boutique real estate investment company and am looking to hire an experienced underwriter on an as-needed basis for my upcoming real estate investments. This is a remote opportunity, and I mostly invest in retail centers, mixed-use, short term rentals, fix and flips. Please contact me if you are interested.
Post: New to the space, looking to meet experienced investors and mentors!
- Investor
- Greenville SC
- Posts 121
- Votes 57
I can help you if you have $30k to $50k saved up to purchase a rehab home.
Post: Who is your favorite Hard Money lender to use?
- Investor
- Greenville SC
- Posts 121
- Votes 57
Quote from @Nate Marshall:
It all depends on the state and some other factors. I know one who will fund people in 5 states at 100% with 10 HUDS. They also have programs for 5 and even no experience. They allow credit partners and get creative. I have another lender that will do 100% in 10 states.
They don't advertise a lot. They like to qualify people based off of the info a borrower provides on a Jot Form. "Great news.. we can get you financed with just 5% down" kind of thing! Make peoples day!
Know of anyone who finances in SC or Fl?
Post: Who is your favorite Hard Money lender to use?
- Investor
- Greenville SC
- Posts 121
- Votes 57
That is identical to Conventus.
Any other mentionable perks?
What does the draw process look like?
Post: Who is your favorite Hard Money lender to use?
- Investor
- Greenville SC
- Posts 121
- Votes 57
Quote from @Jacob Sherman:
We are a direct lender specializing in bridge, fix and flip, ground up construction and DSCR . What is the scenario looking like ?
$180k pp, $60k rehab, $390k ARV. I have completed over 20 flips the past several years.
Post: Who is your favorite Hard Money lender to use?
- Investor
- Greenville SC
- Posts 121
- Votes 57
What is an example of rate and terms that you can do for a top tier operators?