All Forum Posts by: Odie Ayaga

You're looking to flip these and presumably they need rehab? That's why you're looking at hard money?

As others mentioned, depending on the details it's possible it should have been offered under securities circumstances. Don't know that that would get you your money back since it was a stated risk, but you could get the company in trouble if that were your goal. If it were me I'd probably chalk it up to a bad investment and move on

Hi @Sean Ford and welcome to BP! Are you guys also looking to purchase in NJ?

With 5K liquid if you're looking to go the hard money route you'd likely need a good deal more money (at least 30K) even at 100% financing. It doesn't necessarily all have to come from you, but you'd need to get it from somewhere

In addition to state what kind of LTV are you looking for? Are there particular terms or perks you're looking for?

Welcome @Jay Walton and congrats sounds like you're already off to a great start! What did you do for the HML?

In addition to what Frank said yes I would add the contingencies unless you have the experience and comfort level not to

What is it you're looking for? High LTV? Terms?

Congrats @Horacio Maldonado and welcome to BP!

Congratulations on starting off on your journey! Unfortunately, 10K isn't going to get you far by itself to purchasing a non-owner occupied property. You do have options though. What's the state of the property you just bought? If you made some renovations could you sell it in a couple of years at a profit and house hack on an FHA loan? Otherwise, you'd need to bump up your savings or bring on a partner(s). Best of luck!