All Forum Posts by: Joe Cummings

Pa says,

Line of Credit, Repurchase Agreement or Equivalent Mortgage Funding Capability of not less than: $1,000,000

So a million in bank deposits should cover that?

@Bill Gulley

You just don't get it.

What I'm asking is at what point does it become profitable?

Loan amounts?

At 25,000?

50?

100?

If anyone thinks that I'm going to discuss my bank balance on a public forum, or with anyone I don't know personally,,,,,,

I'm beginning to think this forum is all big hats and no cattle

Seriously, my mother was worth maybe a million, but I don't know of her ever having more than maybe 3 or 4 hundred k in cash laying around.

Is that enough to be doing hard money?

I've got enough to fund hundreds of deals in Detroit, 2 or 3 in Philly, and ZERO in Manhattan.

Do I qualify?

How much interest can I charge?

I hear this guy is available,

I run into this all the time. Realtors want a high commission so they don't submit low offers.

Want to make it worse, try making a trade (barter) with the property owner when there is a Realtor involved. 

I'm in the rigging business. Sometimes I buy and sell machinery. I'm looking to buy commercial property. Some of the customers are still in business at other locations.

Try making an offer for 250 in cash, and a late model low hour Toyota forklift ($10,000 value) through a Realtor.

I've pulled a wad of cash out of my pocket already and said "What, are you worried about losing a couple hundred in commission, I'll make it up"

I've never seen people so afraid of hundred dollar bills in my life. Personally I think most of them are gun shy pussies

LMAO,

Seriously, I was wondering what it was all about, and then I read some shlt and realized my mom and one of my uncles were hard money lenders back in the day. Seems like they only did it on commercial properties.

So anyway, how well funded does one have to be to get into this game? I'm sure there are loops to jump through, but what are they?

Yeah I was kidding.

But back in the days of cesspools, it was common to find a willow tree nearby. Old timers planted them there to dry up the wet area created by the cesspool.

A cesspool was at one time a dry well lined with loose-fitting brick or stone, used for the disposal of sewage. Liquids leaked out through the soil as conditions allowed, while solids decayed and collected as composted matter in the base of the cesspool. As the solids accumulated, eventually the particulate solids blocked the escape of liquids, causing the cesspool to drain more slowly or to overflow. Modern environmental regulations either discourage or ban the use of cesspools, and instead connections to municipal sewage systems or septic tanks are encouraged or required.

Date ugly women with good bookkeeping skills :)

Well I got in to inspect. Transformer is fine. HV switchgear is fine. Breaker panel is trash.

Biggest problem,,,,,,

1,000 amp 480 volt 3 phase service. Yep almost 1 MW of power.

The damned thing is way way way too big for a warehouse operation.