Week One if my 90day Challenge: Get Funding

[Ray A Delfi]

Through a few email exchanges with several lenders (honestly I didn’t think they would reply over the weekend), I came to a point were they asked me a few specific questions. I didn’t feel that the questions gave a good picture of what I’m capable of and my qualifications to get a loan so I gave them a summary of my credentials. Here’s my email response:

What is your approximate FICO / credit score?

Credit Karma has me around 670 (Transunion/Equifax as of 9/30/19) and My FICO is out dated but the last one I got was 565 (Experian as of 8/1/18)

When did you purchase 57 Vanness?

2007

How much did you originally pay?

$160k

How much is this property currently worth?

$180k, 220k After Repairs and rehab

Do you currently occupy this property?

No, it is an investment property.

How many Fix & Flips, if any, have you completed in the last 3 years?

I’ve recently got back into Realestate investing. I haven’t had any deals, but have submitted several offers to wholesale in order to raise some capital. Nothing yet

How many rental properties, if any, have you owned over the last 3 years?

Only this one and a few timeshares.

Please note though my experience with realestate investing may seem insignificant, my life experience and knowledge speaks enough to at the least get me into the door to prove my ability to perform. I am the owner/project manager for a Audio Visual Installation company (Teatrograde LLC) and have worked with General contractors in several home builds and remodels (7 new constructions, 3 Remodels/rebuilds). I'm familiar with all phases of construction where I would provide my services during the prewire, trim out, and finish and provide consulting services over plans with the builder and client. In the last 3 years I've closed over $300k in Audio Visual contracts, while working full time in the New York Army National Gaurd. I have 16years in military service, two deployments (Iraq 2004 and Afghanistan 2014) with over 1000hrs of formal Leadership and Operational Training. I've managed the Human Resources department of a battalion consisting of over 1300 Soldiers and now in the retention and personal section of a Command of over 5000 Soldiers. I have 7 years left until retirement and already have my business set up for a turn key operation and want to move on setting up my real-estate business as well.

I appreciate your time and consideration.