All Forum Posts by: Michael Kinsella

You may get some takers, because your advantage as a private lender is flexibility.

For example, if you can close in a few days because you don't require an appraisal or something of that nature, then you may be able to snag some deals.

As @Kenneth Garrett mentioned above though, that is a high APR for prospective borrowers to pay, which is likely to turn many away.

As a follow-up to the above two posts by @Daniel Meneses and @Joe Norman, below are some good starting points for finding a HML.

1. BiggerPockets --> Network tab --> Hard Money Lenders --> Filter by state

2. Local REIA events: You can network with both local HML reps and other investors who may be able to provide referrals.

Good luck!

Some, although relatively few hard money lenders may have no minimum FICO.

You'll likely need to speak with a number of them to find one.

Below are two good starting points;

1. BiggerPockets --> Network --> Hard Money Lenders --> Filter by state

2. Local REIA events where you can network with HML reps and other investors.

Two good starting points...

1. BiggerPockets --> Network --> Hard Money Lenders --> Filter by state to NC

2. Local REIA events where you can network with other investors and local HML reps.

You'll likely need to speak with more lenders given that you're a first time flipper.

Nice!

There are.

Two reasonable starting points...

1. BiggerPockets --> Network tab --> Hard Money Lenders --> Filter by state

2. Local REIA events where you can get lender referrals from other investors and also network with local hard money lender reps.

Congrats! Was this your first flip or have you done others before this?

Sounds like it was a solid deal!

Sounds like a strong learning experience - were you able to make a profit after all was said and done?

Nice!

Is this your first rental, or are you adding to your portfolio?