All Forum Posts by: Brian H.
Brian H. has started 99 posts and replied 495 times.
Post: Looking for feedback on BridgeWell Capital
- Carolina
- Posts 519
- Votes 222
Care to expand a little for us? Would love to find out more about them as they are also an HML I was curious about.
Post: Share Your Experience with Private Money Lenders in ATL?
- Carolina
- Posts 519
- Votes 222
Doesn't look, from their website, like Angel Oak does loans for flipping? The products page is a mess, so maybe I missed it.
Would love to see some other people's recommendations?
Post: Small Business Line of Credit 40K, Next Steps?
- Carolina
- Posts 519
- Votes 222
Post: How do I find market comps with out a real estate agent?
- Carolina
- Posts 519
- Votes 222
@Sammy G. I second the request above. What exactly are you referencing?
Post: House Flipping Spreadsheet
- Carolina
- Posts 519
- Votes 222
Curious, about a year later, if anyone else has bought this package and what they thought about it?
Post: Set up Quickbooks for real estate investing/rentals
- Carolina
- Posts 519
- Votes 222
@Tahra Wright I am in the same boat. There seems to be a TON of info on BP and elsewhere for getting QB up and running for rental business but not flipping business. I know that @Gita Faust has a setup she sells for QB for flippers but haven't really seen much in the way of reviews or anything like that, sadly. Nothing against her or her product (that is probably helpful) but I hate to spend $300+ without hearing some feedback from people that have tried the product.
I don't have much understanding of all the accounting bits so getting this set up at all for my business is very confusing.
Post: Hard money or Find deal first?
- Carolina
- Posts 519
- Votes 222
@Alexander Reed there are some forum threads on people's experiences with various hard money lenders. I am also in the process of finding some to speak with for flipping here in North Carolina.
This thread had a few suggestions.
Then you just want to get on the phone with them and get all the information on their products, rates, fees, timeline, etc.
Post: Reviews of w/ "Flip with Quickbooks Online" course by Gita Faust?
- Carolina
- Posts 519
- Votes 222
Curious if anyone else has used this product? Any reviews?
I'm new and am clueless about accounting and the QuickBooks software... So I am trying to figure out where to start for my flips.
Sounds like maybe this software requires a basic understanding of accounting and real estate accounting specifically?
Post: Hard money lenders review
- Carolina
- Posts 519
- Votes 222
Originally posted by @Mary Jay:
Originally posted by @Nghi Le:
Originally posted by @Mary Jay:
Seems that all HML lend for flips and constructions...
Anybody tried to do buy and hold with hard money? My understanding, some hard money lenders charge only 1% higher than regular banks...
There are hard money lenders out there who also have long-term rental programs as well. Lima One and LendingOne are two big players in that space. But they'll charge you a couple of points on top of that rate and have prepayment penalties.
I usually prefer commercial loans though (from a bank). Sometimes they can be cheaper than conventional loans, but underwriting is easier. Based on cashflow and DSCR instead of DTI.
Thank you!
Can you guys please explain the points system? So lets say I take 100K from a hard money lender and they charge 2 points. Does it mean its 2K?
When talking about financials, a point is one percent. 1 point = 1 percent and so on.
Post: Hard money lenders review
- Carolina
- Posts 519
- Votes 222
@Bob Floss II Aside from the quick closing times... have your clients felt that Renovo was a good lender with which to work, over all?