All Forum Posts by: Ty Henry Jr.

Looking forward to seeing everyone out at the event this week! Always great meeting new people, catching up, and having conversations about the industry. See you all there! 

Hi @Atta Bari! There are plenty of lenders who can give you a better interest rate than that. 10% is what I charge as a private money lender. Please do continue to search in your area for other rates. I'm sure you will find something better. 

@Denzel Ray

Just wanted to chime in here to mention that there are other avenues to take in your case. You may be able to find private money lenders in your area that may provide lending based on appraisal (of the as-is value) of the property. Depending on how much you have the property under contract for, and how much you have saved at the time this may be an option. These types of lenders do not focus on credit, work history, etc. as the property is what dictates the loan amount. I cannot guarantee this will work in your case, but just know that this type of option exist. 

Best of luck with what will hopefully be a rewarding career in real estate!

Ty

Ty Henry Jr.

@Revis Boyd Isbell III

There are other avenues to take in this case. You may find private money lenders in your area that may provide lending based on appraisal of the property. These types of lenders do not focus on credit, work history, etc. as the property is what dictates the loan amount. 

Please do be aware that these lenders may have higher rates however, and the loan will depend on the amount of equity you currently have in the property. They may also be able to cross-collateralize with any other properties you may have. I cannot guarantee this will work in your case, but it may be worth a shot. 

Hi @Jason Credle Jr Jason. It's awesome that you are focusing on your future as such a young age. Wholesaling is a great way to dive into the world of real estate. I would definitely suggest you read Flip - An Unconventional Guide to Becoming a Real Estate Entrepreneur and Building Your Dream Lifestyle. It's a great first read and can definitely introduce you to some of the aspects of wholesaling. 

I do agree with @Stephen J Davis though. You should definitely join an investor group and also reach out to some other wholesalers in your area as they can give you insight from their experiences in wholesaling. 

Wholesaling will be what YOU make it though, so just dive in, learn as much as you can and you will be successful!

Can't wait to see everyone there! 

Hi All! 

New to the group, but looking forward to meeting everyone!