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All Forum Posts by: Mike Grudzien

Mike Grudzien has started 1 posts and replied 703 times.

Creative Real Estate Financing

Post: How can I make this deal work?

Mike Grudzien
#3 Creative Real Estate Financing ContributorPosted
  • Lender
  • Eugene, OR
  • Posts 764
  • Votes 549

I agree with Stephen: wholesale deals do need to sell themselves.  They have to be the cleanest of deals.

1 Vote
Private Lending & Conventional Mortgage Advice

Post: Hard Money Loan to close in 5 day

Mike Grudzien
#3 Creative Real Estate Financing ContributorPosted
  • Lender
  • Eugene, OR
  • Posts 764
  • Votes 549

Good luck!

0 Votes
Newark, New Jersey
Classifieds

Post: Need hard money for flip in SD

Mike Grudzien
#3 Creative Real Estate Financing ContributorPosted
  • Lender
  • Eugene, OR
  • Posts 764
  • Votes 549

Details???
Purchase price?
Who pays the down?
ARV?
Experience level with fix-n-flips?
Credit score?
I could go on...

A two sentence: "I need money" is not going to fly here...
Present your business case like a professional...

0 Votes
San Diego, California
Short-Term & Vacation Rental Discussions

Post: Least obnoxious smoke/CO detector?

Mike Grudzien
#3 Creative Real Estate Financing ContributorPosted
  • Lender
  • Eugene, OR
  • Posts 764
  • Votes 549

Jon,
Just take the battery out......

(just kidding, don't mind me...)

1 Vote
Private Lending & Conventional Mortgage Advice

Post: Can you get a DSCR loan on a property before its rented?

Mike Grudzien
#3 Creative Real Estate Financing ContributorPosted
  • Lender
  • Eugene, OR
  • Posts 764
  • Votes 549

Check with a lot of lenders.  Compare options.

1 Vote
Atlanta, Georgia
Classifieds

Post: Looking for a cash STR DSCR loan to replace my renovation loan

Mike Grudzien
#3 Creative Real Estate Financing ContributorPosted
  • Lender
  • Eugene, OR
  • Posts 764
  • Votes 549
Quote from @Leon Daquin:
Quote from @Mike Grudzien:

What are the numbers?
Present your business case.
"making approximately $20,000 per month", and your costs?  current loan?  current ask? end goal?


 HI Mike,

Sorry for such late response. I will attach the expenses and conservative projection for the property over a 12 month period. My problem right now is that I have put all of my cash into the renovation and I am scraping by until I can get rid of this 12% interest, renovation loan and regain some of the cash that I put into the project. My credit score has dropped significantly over the last month because of being so stretched. Do you have a lender that works with people Like myself that is in a temporarily tight position? Any help would be greatly appreciated. 

Thank You,Lee Daquin

Lee,
I don't know anyone at the moment, but you'll probably find someone here on BP!
0 Votes
Fort Lauderdale, Florida
Private Lending & Conventional Mortgage Advice

Post: Do Private Lenders Exist Who Can Fund Land-Only Deals in 5 Days?

Mike Grudzien
#3 Creative Real Estate Financing ContributorPosted
  • Lender
  • Eugene, OR
  • Posts 764
  • Votes 549

What's the significance of a "5 day" timeframe?

1 Vote
Dallas, Texas
Private Lending & Conventional Mortgage Advice

Post: How do find private lenders who do equity sharing

Mike Grudzien
#3 Creative Real Estate Financing ContributorPosted
  • Lender
  • Eugene, OR
  • Posts 764
  • Votes 549

No, not friends, network locally in your market in real estate investment groups, perhaps a local chapter of Real Estate Investors Association.

0 Votes
Private Lending & Conventional Mortgage Advice

Post: Ex-Spouse Sandbagging on Mortgage

Mike Grudzien
#3 Creative Real Estate Financing ContributorPosted
  • Lender
  • Eugene, OR
  • Posts 764
  • Votes 549

Get an attorney.  Maybe talk to the DA's Office....

0 Votes
Dallas, Texas
Classifieds

Post: How to scale with owner occupied loans

Mike Grudzien
#3 Creative Real Estate Financing ContributorPosted
  • Lender
  • Eugene, OR
  • Posts 764
  • Votes 549

Maybe a DSCR portfolio product?

0 Votes
Philadelphia, Pennsylvania