All Forum Posts by: Nathaniel Walker

@Andrew Mankowski

@Josh Organ

I definitely would like to get to meet all of you so who would be able to gather and organize a successful Zoom Meeting? I normally would but I haven't used Zoom before and don't quite understand how to host a session. 

Hello @Nicole Holcomb,

Personally I just started marketing for my own deals and I am using specific lists rather than just mailing everyone. However, If you are looking in a specific neighborhood then Id say mailing the entire neighborhood would be a good idea. Also, I would assume mailing to the masses would be rather costly unless there is some way of doing so that is cost-efficient, I wish you the best of luck! 

Hey @Jayden Villa

Personally I haven't Utilized that type of creative financing for a deal, however, I am aware of many investors that will use the Private Money Lender to fund whatever the Hard Money Lender won't.

Example-

Purchase $100,000

Rehab $40,000

Arv $200,000

The HML says they will lend up to 90%LTC therefore you would need %10 of the $140,000 which is the cost to get in the deal Acquisition and Rehab. You can then go to you're PML and use them to fund the %10 which is $14,000.

There will be other fees associated with Hard Money, such as origination fees, inspection fees for the draws for rehab funds, closing cost, and probably a few more minor fees as well. But this should give a good understanding of how to utilize PML and HML to make a deal %100 financed, although I don't recommend doing that as it is oftentimes risky and more expensive than putting some of you're own capital in especially as a new investor. But I wish you the best on you're REI journey!

@Alan Centurion

Welcome to BP!

I am in the Tampa Area however I look into the Orlando market as well, I am always looking to connect with other real estate personnel. Maybe somehow we can get a few of us Florida investors on a zoom call here in the near future.

@Jeremy Bohm definitely is a great idea to have multiple strategies to get a project done, let us know how it goes!

@Jeremy Bohm Congratulations on deciding to take on the journey of Real Estate Investing, as far as financing goes @Zach Westerfield hit the nail on the head! Most Common financing I hear it typically Hard Money as well as Private Money which both are short term financing to get you into the deal and you refi out or sell the deal as a flip.

Search you're county with Hard Money Lenders and start calling around and getting to know the terms between each of them and build a mutual beneficial reltioanship with one, Private Money Lenders are people you know whether they are Family, Friends or Business partners, Best of luck!

All Newcomers Welcome,

This is a great tool to use when looking to get into the realm of Real Estate Investing and for most of us that's our investment vehicle to obtaining Financial Freedom, I wish everyone the best of luck if anyone has any questions about Real Estate id love to be able to help! 

A Few Tips:

Practice Using The Calculators

Listen To The Podcast (#300 is a good one for new investors)

Network

Be Consistent!

I am also actively looking to build a relationship with any Local Community Banks to help grow each others business, I look forward to seeing where this thread goes.

All of the small local banks around the Tampa area that I had built somewhat of a relationship with have become very strict on lending since the pandemic and I'm beginning to run out of options. Is there a certain website where I can find investor-friendly local banks to work with or if anyone in the Tampa area has recommendations id greatly appreciate it Thank you all for you're time.