Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Bob Green

Bob Green has started 363 posts and replied 1110 times.

Post: Hard Money Lender for Dallas Market

Bob GreenPosted
  • Lender
  • Mokena, IL
  • Posts 1,251
  • Votes 261

Bryan,

HML base approval on credit, experience and liquidity. If you're a newbie HML rely heavily on credit and liquidity. With that said, lending to a new investor can be risky, therefore expect to pay higher rates and points on your fist deal. Once you have 1 property under your belt. Look up lenders here on BP, most are national and may be able to assist you.

Post: FORECLOSED HOMES- FIX N FLIP FOR PROFIT - WE PROVIDE REHAB TEAM

Bob GreenPosted
  • Lender
  • Mokena, IL
  • Posts 1,251
  • Votes 261

Looking to Invest in Real Estate? Want to profit from fix n flip properties but don't have the time or resources to do so? Please read below.

Hello All,

Many of you are already a client or I have communicated extensively with you in regards to real estate finance and investing. You know that I am a seasoned real estate investor and lender and enjoy sharing my vast knowledge.

That said, I have a great opportunity for you.

I am the lender for the largest foreclosure broker in Illinois. They are contracted by HUD and various other lending institutions to sell their distressed real estate. They take the guesswork out of real estate investing, and known for their ability to identify undervalued real estate and provide their investor clients with an investing System (bankers, lawyers, rehab team' and real estate brokers) to find, buy, remodel and then sell or rent investment properties.

  • 20 years of experience
  • Sold 1400 distressed properties to a group of 150 investors last year and on pace to close 1500 this year
  • Proven investing system
  • Access to experienced investor rehab teams
  • Help add to your bottom line by selling the property for only 3% total commission
  • Relationship based, no hidden fees

Step 1: Reach out to me to be pre-approved for a acquisition and rehab line of credit based on 5X liquidity and 65% of retirement accounts. I will ask a series of questions in regards to your credit, experience and liquidity. Based on your answers will advise a lending strategy best fit for your situation.

Step 2: Schedule a time for conference call with the real estate investment firm to review program and process.

Step 3: Real estate investment firm will send you properties to review, which will include acquisition price, estimated rehab costs, after repair value, and comparable's.

Step 4: Accept property and fill out the required paperwork to be approved for rehab loan.

Step 5: Close on property and let rehab team remodel home

Step 5: Sell property for profit - goal is $20,000 - $30,000 average net profit

Step 6: REPEAT PROCESS

Post: ACQUISITION & REHAB LINES OF CREDIT - FIX N FLIP - 10% DOWN 75ARV

Bob GreenPosted
  • Lender
  • Mokena, IL
  • Posts 1,251
  • Votes 261

Hello All,

As many of you are aware, we provide acquisition and rehab lines of credit on 1-4 unit properties and 5+ multi units based on 5X your liquidity including 70% of retirement accounts. The line is revolving and can be used over and over again as you pay it down or off. For example, $100,000(cash in bank) X 5 = $500,000 line of credit.

Your credentials and location of properties determine lending structure and rates:

  • Rates down to 7% interest only
  • Down payment as low as 10%
  • Fund up to 95% of construction budget
  • Lend up to 75% of after repair value

Please answer the questions below so I can determine what your interest rate will be!

1. Current credit score?

2. How many fix n flip transactions have you completed over the past 2 years?

3. How many rental properties do you currently own? How many have you purchased over the past 2 years?

4. What location(s) are you acquiring properties to either fix n flip or buy/hold.

5. How much cash on hand do you have in the bank?

6. Do you have a home equity line of credit? If so, what is available balance?

7. Value of retirement accounts including 401K, IRA, Stcoks, Mutual Funds, Money Market, Bonds, Cash from Insurance policy, etcs. Please be specific as to the value of each investment type.

8. Any bankruptcies, short sales or foreclosure? If so, how long ago.

9. How many properties do you have under rehab currently? Purchase price? Rehab costs? "As is" value? After repair value?

10. Real estate goals over the next 12 months?

11. Are you open to fix n flip opportunities where we provide the foreclosed property, rehab team, attorney, etc., and you have the potential to profit $20,000 - $30,000 per property?

Post: Canadian investor seeking for a lender in Cleveland OH

Bob GreenPosted
  • Lender
  • Mokena, IL
  • Posts 1,251
  • Votes 261

Hello Joe,

Is this a turn-key property or require rehab?

Post: Apartment Improvements Upon Purchase

Bob GreenPosted
  • Lender
  • Mokena, IL
  • Posts 1,251
  • Votes 261

Hello Justin,

As an investor I try to nip future issues in the butt right at the beginning. Especially if you are planning on acquiring additional properties, otherwise you may run into a situation where there are multiple issues going on at several properties at one time and it could get expensive.  My suggestion is to acquire property with a rehab loan and refinance after rehab is complete.

Post: Chicago South Side Portfolio.

Bob GreenPosted
  • Lender
  • Mokena, IL
  • Posts 1,251
  • Votes 261

Paul,

Do you have a rent roll please?

Post: Cashout Refi needed for a Philly West Germantown home

Bob GreenPosted
  • Lender
  • Mokena, IL
  • Posts 1,251
  • Votes 261

Hello Mauricio,

I sent you a PM.

Post: ACQUISITION & REHAB LINES OF CREDIT - FIX N FLIP - 10% DOWN

Bob GreenPosted
  • Lender
  • Mokena, IL
  • Posts 1,251
  • Votes 261

Hello Winston.

We lend in Maryland.

Hello Brian,

If you lived in the state where the property is located I would suggest a local community bank, however this is not the case. With that said I do believe there is a national lender who can help if you have owned the property for at least 30 days. And, there are several if you have owned the property for at least 3 months. Look at the lender list here on BP.

Post: No Money Down Lenders?

Bob GreenPosted
  • Lender
  • Mokena, IL
  • Posts 1,251
  • Votes 261

Hello Tom,

Unless you can find private money - meanings friends or family to lend you money, true 100% financing does not exist.