All Forum Posts by: Kalin Stocker

Investors! Finance your next project with PMC. Funding loans in Washington, Idaho, Oregon, and Montana. We are a Spokane based brokerage funding nearly all investment projects from fix and flip's, rentals, new builds, development projects, to commercial and more. Give me a call or shoot me a PM/ email for more info on how our money works for you. 

Please contact Kalin Stocker at 509.926.1755 or [email protected]. 

I haven't posted for a while so I thought I'd start with a little "Win" story on a flip I did and pose a question at the end (not a huge win but everyone likes to hear about a project go well right?). 

Bought a place on the South hill in Spokane, WA. Purchased at $180,000, borrowed at $200,000 (some of it financed closing costs and some of it, rehab funds). After closing put about $13,000 of personal funds into it beyond the rehab funds from the loan. With our holding costs totaled to $5,400 we were all in to the project about $219,000. 

Found a lease option buyer at $249,000 FSBO with no realtors. She put $11,000 down at $1,400 per month and has a two year option contract. Down payment goes towards the balance, lease payments do not. So positive cash in the end minus sale costs will probably be about $25,000.

My question is about whether to Refinance it with a conventional Fannie Mae type loan or to keep it at the private financing I already have? Private financing is at 11% and will be cash flow negative wither her monthly rent until she purchases the property (she says she will purchase it this year, But who knows). Negative cashflow is roughly $484 per month. With a conventional loan it would be cash positive-- Not much, but better than losing money. 

My only real concerns would be pay additional unnecessary closing costs if she was going to purchase quickly. The only other thing is that I am a little worried that the appraisal might come in low because it is a refi. I have no doubts that the appraiser will be able to arrive at the $249,000 dollar amount on a purchase transaction but my refi appraisals always seem to come in a little low. 

Any Thoughts? Do I bit the bullet and pay some negative cash flow for a few months (potentially... could be longer) or do I attempt a Refi? 

Private financing available in Spokane and the surrounding areas. Great rates and lots of money available. we Can finance nearly any type of real estate; Fix and flips, rehabs, long term hold properties, commercial. Call or PM for Details on rates, terms, and more at 509.926.1755. Thanks for looking. 

Happy Hunting.

Private money available for nearly all real estate projects. Fix and Flips, Rentals, Rehabs, New construction and more. Call or PM Kalin Stocker for Rates, Terms, and other questions. 

Happy Hunting, 

Kalin Stocker

509.926.1755

Private financing available for your next real estate project! We can finance Fix and Flips, Rehabs, Long term rentals, Commercial Properties and more. Can finance up to 75% loan to value of the resale value of the project with no prepayment penalties. Can Finance rehab costs assuming the project fits LTV limits. Funding Projects in Washington, Idaho and Oregon.

Call, Email or PM me if you have a need for financing on your next real estate project.

Kalin Stocker - Private Money Capital

509.926.1755 - [email protected] 

Absolutely Dress it up. I had the hardest time getting people to take me seriously when I started in lending, Dressing up makes you seem more confident, professional, intelligent, lower risk.... The list goes on.

What's even worse is the legislation that this "blue" state passes often applies to our "red" side of the state. Spokane, Wa suffers a lot as a result of the Seattle-side government. 

Wholesale properties available at actual wholesale Prices! Check out our website at www.wholesalehomes.today. 

We have all types of properties in various states of condition. Single family, Multifamily, Commercial, "fixer up er's", and "lipstick flips"

Want to see them right in your email inbox? Ask about our Leaderboard to join the short list of our most serious buyers. 

Private money financing available on all our wholesale properties. 

Please contact Kalin Stocker at 509.926.1755 or Reach out Via email at [email protected]

Happy Hunting,

Kalin Stocker

Washington State Real estate investors! PMC has Private Money Financing available for all types of real estate projects. We can fund purchase plus rehab on projects up to 75% LTV on the After Repair value. We write loans on Rentals, Fix and flips, Rehabs, New builds, commercial properties and more.

If you are interested in funding your next real estate project with private money Give me a Call at 509.926.1755, PM me, or Reach out Via email at [email protected]. We can talk about your next project and the rates/ terms to expect with our financing.

Happy Hunting!

Private Money available for Washington, Idaho, And Oregon. Private money makes your next Real estate project easy. Whether you are buying a rental or fix and flip, private money will work for you. 

For rates, terms and requirements, call Kalin Stocker at 509.926.1755 or Via email at [email protected]

If you would like to PM me with questions about your next real estate project or if private money is a good option for you, I would be happy to answer any of your questions. 

Thanks,

Kalin Stocker

PMC