All Forum Posts by: Magnus Wikström

Lendersa is probably the best portal

Hi all,

We have a ground up project permitted and ready to go. We've built 2 identical homes in the same neighbourhood, and our plan is to keep starting batches of projects of quarter/trimester or so. I want to see if there are private individuals here lending, as I find the leverage often better than normal hard money company lenders, and that's basically what we care about (within reasonable costs). It's not because we don't have the funds, as our liquid availability is our strength, but for anyone with an investment background, the numbers on equity and IRR are the key metrics.

Reach out if of interest. We've got 3 more in the permitting stage. SWFL.

Land: $19.500
Construction: $192.258
Sale value: $310.000

We're foreigners for the record.

Thank you

Hi everyone,

Does anyone know of a website that lists business lenders, kind of what lendersa does for real estate hard money lenders?

Thanks

Really bad replies generally. Lenders typically don't understand key metrics ROE and IRR. Of course you're able to find 100% or close to funding, especially since hard money is normally funded on a reimbursement basis meaning the lender's risk is very limited. We typically keep as much liquid reserves on hand as possible, to boost the investment numbers and lower the risk, with liquidity risk likely being your largest risk in a real estate project. Have a look at lendersa. Loads of good lenders on there. Hope it helps.

@Rana Zaheer Savi Ranch is one of them. Say hello to Michael from Magnus

Hi @Allison Somera

We're in the market for some unsecured funding. We're foreigners based in Europe, but been doing business in America for the past year. We're quite strong in liquidity as our strength. Do you want to discuss?

I was hoping to be spared from the average HM brokers acting as lenders, claiming everything they don't know is impossible, but they keep showing up.

There are lenders doing this, why we haven't signed is becuase we've used a neobank, and our statements need 3-4 months from a brick and mortar bank, which we're currently setting up. Companies underwriting their deals have their own parameters. In America, everything is possible, that's why we're here.

We don't shy away from higher rates. We can meet digitally and as I have an ITIN and we're registered on all company docs, you can be sure we'd be in trouble if we were accused of fraud - The risk will not be that dissimilar to lending to a US citizen. You can do a share pledge over an SPE also as security. But honestly, I don't find the answers here that creative yet, I hope something more emerges.

Hi all,

We're 2 foreigners based in Europe doing business in FL entities, building SFR in SWFL. We're not US residents nor have FICO scores. I have an ITIN though.

We've completed 2 ground up SFR in the US, I've done 2 myself in Spain and 1 in Sweden prior, and my business partner 5 projects in Sweden. We've got decent options for construction financing but the working capital we want to increase for bigger draws, as it's all paid back by the project funder anyways. We've had challenges with this, particularly because we're using Wise for banking (although in the process of switching now to Terrabank (FL)). We're Swedish, experienced business people, I'm a real estate economist, 7 years exp. in RE development finance, and my business partner an entrepreneur with 3 successful exits through company sale out of 5 companies started. We sit on about $300.000 in liquidity. Ideally, we'd set up unsecured funding for working capital of $150.000-$200.000, but we can make use of as little as $20k. Anybody know where to turn or want to discuss?

Thanks

Hi James,

We primarily build SFR in SWFL, for sale properties. We can hear you out, how much of projects do you typically fund? Only asset based lending? We have one project ready to go and a couple more in the pipeline.

Thank you

Hi @Anthony Rivera,

We have an interest in the market and are looking for someone that can build. Let's connect?