Hello everyone, I need a private lender in the Norfolk,Va area.

[Andre Q.]

I have a property thats worth $149k paid for free in clear. I would like to connect with the right person to get my deal done. If i get this done i would be in the game. This is the best time to invest into real estate. Banks are not lending like how they use to. I would like someone to invest against the property for a year. My exit strategy would be to refinance in a year. This is military town in its a great opportunity for the right lender to make some money off there money. I have pictures of the property if you would like to see. Send me your e-mail if your interested. You would not regret it!! Real Estate Rocks!!!

Thanks, Andre

[Will Barnard]

First off, you need a plan. Lets assume the actual current market value of the property is worth $140,000. Your plan is to keep as a rental, so your gross income is $1100 and after operating costs, your NOI is around $550.
Now, a private/hard money lender will likely not lend more than $65% of this value so that means you can get up to $91k less fees. A loan of $91k at 10% interest (going rate) with a 30 year ammortized loan would have a monthly payment of $798.59 placing you at NEGATIVE cash flow.
Thus, you could only take out say $45k which would make your payment $394.91 and give you monthly cash flow of $155.09.

Of the $45k loan, you will likely net approx. $42,000. So now you need a plan for that. Since you are paying 10% for this money, you need to invest this $42k into something that yields higher than a 10% return, otherwise, you should just keep the property free and clear and collect the $1100, less $550 expenses, and keep a $550 cash flow each month.