All Forum Posts by: Rodney Dixon

As my 1st real estate investment is in its 1st phase(25k condo-bank repo), I have dwindled down all my financing options(due to having little to no credit & no cash besides enough for a down payment) and realized my best picks are: hard money or private money. But, while learning about the 2 forms, I've discovered that an investor must "pitch" the potential "deal" to either lender in order to secure funding. Therefore, where are some resources located on either actual or example deals that have been made to hard money and private lenders?

Thanks Jeff & William for the information. In addition to your help thus far, do either of you know some resources(maybe here at BP) on hard money & private money lenders?

My goal is to add to my present knowledge about these forms of money as much as I can!

After doing some research on real estate financing, I've come across inconsistent information regarding the longest hard money or private lenders will do loans for. Therefore my question is this, what are average yet longest terms(in years) for hard money and private lender loans?

After doing some research on real estate financing, I've come across inconsistent information regarding the longest hard money or private lenders will do loans for. Therefore my question is this, what are average yet longest terms(in years) for hard money and private lender loans?

In the midst of my real estate investing, I've come across the common obstacle of obtaining funding for my deals. After doing a little reading on such a issue, I gathered the idea that the properties that I'm looking to invest in can be used as collateral for the actual real estate loan. Is this true? I mean can I claim whichever one of my potential properties that I'm looking to buy as collateral for the same loan that I'm trying to get in order to buy that property?

No that's not the case at all. Actually she's looking for a deal where both her and the lender wins(she receives the money for the condo purchase and the lender establishes a loan with her that's favorable to them). Now, where are the lenders?

A friend of mine has come across her a bank repo condo for $20k that she is envisioning as her 1st home. However, the bank is only selling the property on a cash-only basis. My friend has no cash on reserve nor any credit. Also, she has a co-signer that has bad credit in the range of 540, but, has been on there job for 6+yrs. Could someone provide a list of lenders that will her help secure this property?

Thanks everybody for your advice. However, I don't have any money and as far as credit goes, I have a 540 credit score w/ little-to-none credit history. Also, I haven't gotten in contact with the owners of these properties yet either. Am I in to bad of a condition to try and accomplish my goal or does real possibilites for success still exist for me?

If they still exist, any and all suggestions/advice of options, methods, techniques are and will be greatly appreciated. I'm really intrigued by the real estate world because is its solid foundation of income and can't wait to get my piece of the pie!

The objective behind placing a house under contract was specifically for the buy & sell investors in my current area of living. For a clear example, there are a lot of vacant homes where I reside and there are a lot of "house hunters, bird doggers, etcc.." that are also on the hunt with me. My plan is to be the 1st one to catch the worm and then present the contract to the aforementioned investors. Now with that being said (and hopefully it clarifies any cloudy pictures that I may have painted with my 1st post), what are the steps or methods I can use for securing those properties just long enough so I can then pass them on to purchasing investors?

Recently I've become interested in the real estate "wholesale game" and have a question as a beginning investor. Once I find a properties such as vacant homes, foreclosures, etc..., how do I put a contract on that home?