All Forum Posts by: David Cruise

@Zach Scheirer - I also have a long distance rental in the Bartonville, IL area which is just outside of Peoria.  It's a class c building with 6 units.  I have a PM that owns over 20 homes in the area and is pretty effective.  I'm not sure if he would take on more properties but I could certainly ask if you're interested in an intro.  

@William Jenkins - We are a hard money lender in GA and throughout the Southeast.  I'm more than happy to connect and share info about private lending.  Happy Investing! 

@Jared Burnett - There are hard money lenders that only want to do purchase deals but you'll find that many of us are "hard money rehab lenders" that fund exactly as you described on a rehab project.  Typically there is a down payment requirement and a max loan amount based on the After Repair Value of the property.  We are in Charlotte and could help you with a fix and flip project if you would like us to review.  

Thanks!  

@Ken Reed

We are based in Atlanta and have an office in Charlotte.  We do transactional funding in 45 states for 1.5%, no processing fees.  We have references upon request from investors that have used our services before as well.  $750 minimum fee applies to smaller deals.  

@Evan Hughes It sounds like you got some good advice from your HML in Chicago. Anytime a lender is willing to also provide you with guidance rather than just loans you are probably dealing with someone legitimate.

I think the 13% and 3 point offer is reasonable in your market.  We would being doing an 85% LTC deal at 11-12% and 4 points so it's pretty close.  

Keep up the good work doing your due diligence not only on your investments but on building your power team.  That's the key to success in the business.  

I have personally been involved with LaShannon and her house flips and we are currently working with several of her students in order to get their deals funded!  

@Account Closed Perhaps Straightline Funding can help.  We are direct portfolio lenders looking for solid clients and projects in GA and throughout the Southeast.  References available upon request from existing and past clients.   

We would be interested in NY and CT if you come across anything.  Thanks! 

Jon,

You need to carefully read the terms that Auction.com places on the return of a deposit before submitting those funds to them.  You are entering into a contract with them when you give them money so make sure you understand all the terms of that contract.

If a property has tenants with a valid lease and they are going to honor that lease obligation by paying rent, keeping the property in good condition, etc, you cannot remove them until their lease has expired.  There are laws that protect tenants in foreclosure scenarios like this.  I would definitely get a copy of that lease and get a thorough understanding of the tenant's intentions before buying the property.  

Good luck!