Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Classifieds
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 11 years ago,

User Stats

7
Posts
0
Votes
Chris Lewis
  • Contractor
  • Chester, MD
0
Votes |
7
Posts

Reputable Hard Money Lender in MD and a Good Local Conventional Lender?

Chris Lewis
  • Contractor
  • Chester, MD
Posted

So my previous post on this was deleted because I guess what I was asking was considered solicitation and for that I do apologize. Just to prove how serious about this I am I went ahead and created a pro account and I'm posting it again. Please see below:

I'm looking for these 2 things in hopes of trying to start up rental income utilizing short sales in the area. I have approximately $25K to use for escrow and I'd like to be able to buy properties at 30-35% below market value, minus also any repair costs, and turn around within a reasonable time to rent it out and REFI the hard money loan into a conventional 30year staying within 65-75% of the ARV.

My main goal is for each unit to have a DCR of 1.4 or better and to have a great potential for long term equity and passive cash flow. I'm not in this to get rich quick.

I am a Chief Building Engineer in Washington DC and have been in commercial office realty for over 14 years. I currently oversee over 1million square feet of office space with an $18m+ operating budget plus yearly pro formas. I know residential is different than commercial but I am adaptable to different situations.

If anybody would like to mentor/partner with me I have absolutely no problem with that as well and welcome the opportunity. Please feel free to send me an email.

Does this sound reasonable to any of the locals here? I'm leaving the country for 3 weeks in June and I'm anticipating getting started shortly after I return.

Loading replies...