All Forum Posts by: Sean Richway

@Jesse LeBlanc  Just sent you a PM regarding this as well.

@Tobi Isaacs  Just be careful here with anyone you talk to regarding the experience side on ground up deals.  As a lender myself, ground up is particularly difficult to get done without direct experience under your belt.  Most lenders will want to see 2-3 projects completed in the last 3-4 years in order to qualify.  Without that it will be a tough task to accomplish unless you work out some custom structure or bring the GC on the loan with you so you can leverage their direct experience.

We could take a look at this but given the lack of experience you would be closer to 15-20% down, depending on credit and complexity of the rehab.  We do allow first timers but the leverage isn't as aggressive compared to those who have 3 flips or more in the past 3 years.

@Taylor Davila  Most of it is driven from experience and credit.  There is typically a tiering system that we use as lenders to tier your experience and also look at your credit.  From there that will determine your down payment relative to your total cost of the project.  For example someone with no experience and 700+ credit may qualify for 85% of purchase and 85% of rehab.  Someone with 3 deals or more would qualify for 90% of purchase and 90% of rehab.  Typically a rule of thumb is with no experience and average credit you are looking at 15-20% down depending on the rehab size and complexity.  With 3 deals or more you can typically expect 10-15% down depending on the rehab size and complexity.

@Susan Custer  I'd take a look at this as we have done plenty of deals in the Richmond area before.  Feel free to PM or email me details.

@Zachary Finnegan  I would take a look at these projects if you wanted. We are a direct hard money lender and can close quickly. Send me a PM if you want more information.  https://infinitycapitalfinance.com/application/

@Stefano Esposito  I would take a look at this.  Feel free to PM me more info.

@Forrest Adkins  We have done some rural properties in the past so I would be interested to take a look.  We are a direct hard money lender and can close quickly.  Send me a PM if you want more information.  https://infinitycapitalfinance.com/application/

I would take a look at these projects if you wanted. We are a direct hard money lender and can service both NJ and NY. Send me a PM if you want more information. https://infinitycapitalfinance.com/application/

@Will Seaman  Do you have an appraisal already completed?  What is your exit strategy?  FICO?  Experience?  If you want send me an email directly to [email protected].  I am a direct lender and we could close this with our own cash. You can text me on my office line as well 410-541-1368.