Lenders in Las Vegas

[Michael C Gregory]

Help! My lenders are killing me. We are no longer in the .65(ARV) minus repairs = offer market. Wake up lenders! Deals are harder to find, and in order to be competitive (and maybe get a contract), you need to offer 75 to 80% of ARV (properties are selling for 10-20% more than the ARV). I have lost FOUR deals because my lender will only approve a laughable amount to offer. How do I find a lender who will consider ALL of the aspects?

Thanks.

Michael C. Gregory

Remedy Investments, LLC

[Charlie Fitzgerald]

The lenders that are willing to lend you over as-is value are not doing you any favors.  They are allowing you to enter the deal in an over-leveraged position.  When (not if) the market goes south for whatever reason (it will) you are going to be in a bad spot.  They are banking on that to happen...