All Forum Posts by: Account Closed

Thanks for the quick replies Kerry and Robert, follow ups being sent now.

Hi all,

Any recommendations on hard money lenders in the western suburbs of Philadelphia (Media, Newtown Square area) for fix and flip properties? I have a specific property in mind, it's bank owned and in a flourishing area. Looking to discuss non-traditional borrowing options with a local lender. Plan would be to be in and out within 6 months

Thanks in advance

Michael

Thanks @Joe White, IM sent.

@Joseph Scorese, we're yet to create the entity, I'm keen to get legal perspective on our proposed approach before doing so, to minimize rework and unnecessary cost. Open to a retainer, though our needs are short term at this point so I'm not sure whether that's the best approach vs a fixed fee project. We do have a property identified and funding in place too. Introductions would be great, thank you

I'd recommend TD too. They offer strong LTV with interest only options and 30 year amortization on lines of credit. I highly recommend WSFS for owner occupied, but they're stricter with investment properties, requiring larger principal payments (1% of principal balance + interest monthly) and shorter amortization periods. I've found Penn Fed commercial products are similar to WSFS too.

Hi all,

First post on BP after many months of using it for research purposes, such a great resource! Looking forward to becoming actively involved from now on.

I own a couple of residential rentals and am beginning the process of purchasing my first commercial building (mixed use, 4 unit property). Before I do so I'm looking to engage with a local real estate attorney (I'm based in Newtown Square, but would certainly be willing to travel) to discuss the most appropriate entity structures for my business and goals, to have tenancy agreements written up and to assist with company formation.

I've had limited success using Yelp, UpCounsel and other such sites and would love any recommendations for people to speak with. Ideally looking for a very small firm, a single practitioner would be great and would be especially interested if they have investing experience as well as the required legal expertise.

Any suggestions or referrals would be much appreciated!

Thanks, Michael