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All Forum Posts by: Sean Richway

Sean Richway has started 189 posts and replied 1162 times.

Post: $696K loan needs to be funded. Giving 6% ROI monthly

Sean Richway
Posted
  • Lender
  • Chevy Chase, MD
  • Posts 1,299
  • Votes 136

@Isaac Blocher  Let me know if you want me to take a look at these properties based on 90% of purchase and 100% of rehab.

Post: Fix and Flip Funding Available

Sean Richway
Posted
  • Lender
  • Chevy Chase, MD
  • Posts 1,299
  • Votes 136

@Charles Johnson  Absolutely!  We can fund buy and holds, flips, or just purchase only investment properties.  Feel free to reach out to me directly via email, [email protected].

Post: $1,000,000 mansion

Sean Richway
Posted
  • Lender
  • Chevy Chase, MD
  • Posts 1,299
  • Votes 136

@Eric Griemsmann  If you have any buyers that need financing we could offer 90% of the purchase price on this acquisition if it does not need any repairs.  We could include 100% of repairs if any were needed.  Feel free to reach out if you have any interest.

Post: Fix and Flip Funding Available

Sean Richway
Posted
  • Lender
  • Chevy Chase, MD
  • Posts 1,299
  • Votes 136

Program #1

-90% of PP
-100% of Rehab
-Up to 77.50% of ARV
-Rates start at 7% I/O
-2-4 points
-12 month term
-No PPP
Available in the following states: AZ, CA, CO, CT, FL, GA, IL, MD, MI, MO, NC, NV, NY, OH, OR, PA,SC, TN, TX,VA, WA, and WV

Program #2

-80-90% of PP
-100% of Rehab
-12% I/O
-4 Points
-6-12 month term
-No PPP
Available in NJ and surrounding areas

Program #3

-75-85% of PP
-100% of Rehab
-12% I/O
-Up to 65% ARV
-4-5 points
-12 month term
Nationwide except for NV, AZ, OR, and MN

Program #4

-100% of PP
-100% of Rehab
-13.9-14.9% I/O
-Up to 65% ARV
-4-6 points
-No PPP
-12 month term
-Min credit score of 660 or higher
Nationwide

If you have anything outside of this feel free to send the details over and I can let you know what I can offer. Feel free to email me directly at [email protected].

Post: 90% of Purchase Program Available w/ Rates Starting at 7%

Sean Richway
Posted
  • Lender
  • Chevy Chase, MD
  • Posts 1,299
  • Votes 136

@Brian M.  I could definitely consider this.  I am sending you over an email to complete our submission form so that I can price the deal out for you.  The email will be coming from [email protected].

Post: 90% of Purchase Program Available w/ Rates Starting at 7%

Sean Richway
Posted
  • Lender
  • Chevy Chase, MD
  • Posts 1,299
  • Votes 136

@Turquoise Brown-Utley  I believe I responded to this.  Let me know if I missed it :)

Post: 90% of Purchase Program Available w/ Rates Starting at 7%

Sean Richway
Posted
  • Lender
  • Chevy Chase, MD
  • Posts 1,299
  • Votes 136

@Behrooz K.  We typically charge interest on the rehab hold-back from day 1 as an incentive to make sure the project is completed asap to ensure the proper time line on the property having ample amount of time to sell before the loan becomes due.  Typically our rates are very aggressive so the carrying costs typically do not eat into a lot of the profit.

Post: 90% of Purchase Program Available w/ Rates Starting at 7%

Sean Richway
Posted
  • Lender
  • Chevy Chase, MD
  • Posts 1,299
  • Votes 136

@Rob Moore  Sending you an email now from [email protected].

Post: 90% of Purchase Program Available w/ Rates Starting at 7%

Sean Richway
Posted
  • Lender
  • Chevy Chase, MD
  • Posts 1,299
  • Votes 136

@Dante Pirouz  The min loan amount is $75K.  We can include 100% of rehab with this program as well so that might help to get to the $75K min.  Keep in mind though that the rehab cannot exceed the purchase price.  So typically an ideal project would be $40K PP and $40K rehab.  This turns out to be a $76K loan amount.

Post: 90% of Purchase Program Available w/ Rates Starting at 7%

Sean Richway
Posted
  • Lender
  • Chevy Chase, MD
  • Posts 1,299
  • Votes 136

@Robert Rayford  I am not sure if you sent me the email but here is my email address, [email protected].