All Forum Posts by: Ryan Stuckey

Welcome to Cincy, Tommy. Feel free to reach out with any questions on the city or possible options for you...

Welcome to Cincy...DSCR lenders will lend to an LLC all day long, in fact many if not most require it as part of this business purpose loan...

You're working with a broker not a lender. Nothing wrong with using a broker to work on your behalf (assuming it's a good one) with various lending options, but you should be aware of that by this point in the process.

Hi Demarious, if any of you clients need a hard money solution, ask them to consider Longhorn Investments for the deal. Available 100% financing on purchase as well as rehab, so that means less out of pocket and higher ROIs. Fast closings and investor-friendly reputation. Here are two recent closings in Columbus:

We also cover Cincinnati and will consider Dayton on a case-by-case basis.

@Samantha Fedor

Get in touch with Samantha for excellent PM services in Cincinnati

For top-notch PM here in Cincy, get in touch with Samantha Fedor with True Home Management:

@Samantha Fedor

Her contact info is on her BP page.

Quote from @Najeh Davenport:

I understand the concept of hard money loans, but I'm currently navigating the process of applying for one myself. The lender plans to finance 80% of the purchase price and 100% of the renovations for my property, which is approximately 3000 square feet, renovation loan amount of around $50,000. However, I encountered a hurdle in the form of a scope of work requirement. Despite providing a detailed bid from my contractor, I was informed that it wasn't comprehensive enough. After revising the bid to include one-liners detailing the work and materials, I'm now awaiting further feedback. Has anyone else experienced a similar process when applying for a hard money loan? Any insights or advice would be appreciated.

On a purchase and rehab loan, it's in everybody's best interest to get an accurate rehab scope of work and therefore an accurate appraisal (when the appraiser can determine exactly what is going to go into the property instead of guessing). The borrower should definitely want a complete SOW to know very well what is going in the project and to enhance/support the appraised ARV as much as possible with detail. Without detail, appraisers will tend to assume low-medium quality of materials finishes and the like. The appraisal with an accurate SOW gives both lender and borrower a chance to withdraw from the project if the appraised ARV is not where it needs to be.

You should also put the SOW on the lender's template to help with underwriting and later draw requests so there is less to interpret/guess. At Longhorn Investments, we want borrowers to use our template with a certain level of detail needed so that we have a more efficient process for everybody, and that includes the borrower to get everything finished more quickly.

We are looking for a couple appraisers focused on the Dayton area that would like to perform (initially) 1-2 appraisals per month for our hard money lending program for purchase & rehab projects. We are adding Dayton to our current activity in Cincinnati and Columbus metro areas.

Details:

- 3-4 business day turnaround requested (from order to receipt to report submission)
- no AMC involvement (payment collected directly from the borrower/applicant)
- charge fair market rate to the borrower
- appraisal type is "as is value" + "after repair value" (URAR/UAD 1004)
- experienced and reputable lender with 16 years/8000 loans completed (and offering a rare 100%/100% on purchase/rehab financing structure)

Please contact me at 513-879-5945 or [email protected] to discuss.

Ryan Stuckey
Longhorn Investments

We are looking for a couple additional appraisers in Cincinnati that would like to perform (initially) 2-3 appraisals per month for our hard money lending program for purchase & rehab projects.

Details:

- 3-4 business day turnaround requested (from order to receipt to report submission)
- no AMC involvement (payment collected directly from the borrower/applicant)
- charge fair market rate to the borrower
- appraisal type is "as is value" + "after repair value" (URAR/UAD 1004)
- experienced and reputable lender with 16 years/8000 loans completed (and offering a rare 100%/100% on purchase/rehab financing structure)

Please contact me at 513-879-5945 or [email protected] to discuss.

Ryan Stuckey
Longhorn Investments

Quote from @Katrina O'Bannon:

I am in the Dallas area and I am looking for a local hard money lender. I am looking to purchase a fix & flip within the next 60 days. I am looking for deals in DFW and surrounding areas. I am also potentially looking for deals in East Texas. 

Let’s connect!! 

You're in the perfect spot to connect with Longhorn Investments. Based in Dallas, with 16 years and 8000 loans of experience focused on short-term purchase and rehab. One of the very few offering 100% financing on purchase as well as rehab. Loyalty program pricing after a few deals and very investor-friendly (quick close, quick draw requests, etc).

Get started here with your questions:
https://www.longhorninvestments.com/loan-consultants/kelsey-...