Fort Worth Investors

[Matthew McKanna]

I am curious as to if anyone in the Ft. Worth area is currently rehabbing homes in this market?  Also, is there a certain method you use to find distressed homes and how you go about financing these deals?  I am a new investor in the Ft. Worth area looking to start rehabbing homes in this market.  I have my agents and contractors in place, and I am currently having trouble financing the deal.  I would love to get any feedback, comments, suggestions, or advice from anyone in the area that has experience dealing with this.  Thanks.

[Will Barnard]

You mention difficulties finding the deal (what are you doing to find deals currently) and then you mention problems funding the deal via private money and mention length at job and income. Perhaps you have confused some terminology or do not understand what private money is. Work history and credit scores go hand in hand with traditional/conventionally financing ( banks). Private money is a person you have a relationship with (existing or new) in which they have money but not the time or desire to put deals together and manage them. These individuals do not look at your credit score or time at current job, rather, they look at the investment and your ability to pay them back. In other words, they are investing in YOU! You, and only you can presents yourself in a way that retains or earns trust and confidences you must do this with complete integrity and commitment if you want to be successful. 

Hard money will look at you and mostly the investment, the loan to value is key and since you are new, most hard money lenders will likely want to see some skin in the game or a partner on your team with the proper experience. There are many ways to accomplish yr mission,figure out what is best for you and what you are able to obtain through your contacts and relationships.