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All Forum Posts by: Sebastian Dodds

Sebastian Dodds has started 2 posts and replied 4 times.

Post: Looking for Private lenders

Sebastian DoddsPosted
  • Flipper/Rehabber
  • Ohio
  • Posts 5
  • Votes 4
Quote from @Chris Seveney:
Quote from @Sebastian Dodds:

I am a full time flipper in the Summit and Stark County area in search for more private lenders.  I currently use hard money and would like to move away from that or use it as a tool to ultimately expand. 

Thanks!


Private lenders and HML are typically in many cases all the same. Really no difference. It can be a good tool to expand but I caution those to have experience as we are starting to see a significant increase in portfolio sales for matured HML's where the borrower is not close to being completed and now the default rate kicks up to 18%.

For finding cheaper money, look to SDIRA investors or those in your local area. Equity Trust I believe is in your neck of the woods so if they host events those might be a good place to go.


 Thank you for the reply Chris, I am currently using Kiavi. 11.9% rate, interest only, 2.5% origination fee and $1500 servicing fee at closing.  I would like to get away from that by finding private money with less fees. 

Post: Looking for Private lenders

Sebastian DoddsPosted
  • Flipper/Rehabber
  • Ohio
  • Posts 5
  • Votes 4

I am a full time flipper in the Summit and Stark County area in search for more private lenders.  I currently use hard money and would like to move away from that or use it as a tool to ultimately expand. 

Thanks!

I would like us 3 to get together via Skype or what ever is necessary. I have been in contact with both of you about the Columbus market. I think we could make good things happen down there! 

Post: Invest in Ohio Columbus / Akron Flips

Sebastian DoddsPosted
  • Flipper/Rehabber
  • Ohio
  • Posts 5
  • Votes 4

I am a 27yr old contractor in Cuyahoga Falls, looking for an investor to help me continue flipping homes, willing to move to Columbus (wife is from there), or stay in Akron area. Looking for a long term partnership. 

I have been in construction for 8 years, have a lot of experience flipping homes. Flipped several homes for customers who have now retired and two for myself more recently. Bought two rentals with my profits and don’t quite have enough equity to pull to continue the process, but want to continue expanding.