All Forum Posts by: Robert Reardon

I don't think so. The big asset-based lenders are in the business of lending money, not poaching deals. 

Do you have an idea of how long they're willing to commit capital for?

I would set up a special purpose LLC either way you go.

The fees to incorporate vary by state, but they're not too costly - here in Florida it's $100 to file and $25 for the registered agent. What can be expensive is the cost for an attorney to draft an operating agreement and likely placement memorandum for potential investors. They're also going to make sure the offering of securities falls within a federal exemption from registration. That way, the SEC doesn't get involved because you followed the regulations.

There are a few common structures you could potentially use. You can do some quick research by checking out some of the crowdfunding sites and look at the equity investments. You can be real simple and distribute a flat preferred rate of return or be detailed with the waterfall and include a hurdle, catch-up and split.

Building anything crowdfunding related is very difficult.

I like the idea and there's certainly a need for it with so many sites out there. I was thinking along the same line a couple weeks ago, although I wanted use my site, Crowdflipr, to raise capital for a fund which invests in marketplace securities.

There are some really cool companies that solve this issue on the p2p lending side, like Orchard and LendingRobot. They basically built infrastructure so that wall street could buy loans in bulk.

Is it just me or was there a DDoS or a bad web-scraper hitting BP this morning?

John,

Fixed rate IO starting at 7% (based on LTV and experience).

Points won't exceed 4% and no junk fees, only 3rd party fees charged at cost.

Best,

Robert

He's willing to pay a couple points...

How would a good buyer's agent handle that objection? 

Hi guys,

I have a friend who is pre-qualified up to $150,000 to buy his first home. He's bid on 4 properties so far and each time the seller went with a cash buyer. 

Are there any lenders who offer bridge financing for this type of scenario? He'd like to come to the table with an all cash offer, and will provide a lender with all the documentation and a first position until he can refinance with the bank.

Any thoughts?

Thanks,

Robert

*raising hands from Sarasota, FL*

Hi all,

Crowdflipr is looking for qualified sponsors that are seeking financing for redevelopments. While we recently finished our technology and compliance requirements and have yet to fund a transaction,  we do have a network of accredited investors who are eager to attain access to private deal flow and gain exposure to passive real estate investing.

Rates vary based on the sponsor and asset, but generally speaking there's 1-4% points up-front and 8-12% return to investors.

https://www.crowdflipr.com/

I welcome questions here or at [email protected]. 

I realize this is also appropriate for the crowdfunding forum, but thought it would be better suited here as we're targeting rehabbing and house flipping.

Sincerely,

Robert