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