All Forum Posts by: Andy Davey

In KC and happy to provide transactional financing.

Looks great!  Can I forward this on to investors I know?

Welcome to BP Julie!  I agree that the best way to find them on BiggerPockets is to setup a keyword alert.  Most wholesalers like Mark or others would make sure to post with that word included.  Take care!

No doubt that KC is really a great investment right now - but compared to other markets and especially the coast - year over year the market is consistent which is great especially if you are rehabbing to rent!

Welcome to BP! Sounds like you are in great shape to get going. Hard Money Lenders should have no problem with these loans and selling, as repaired correctly, should be no issue. I agree as well the best way forward is in your local investment group or club that have experience with the lenders in your area. Happy rehabbing!

Welcome to BP! great place to network and discuss.

Welcome to BP James! 

Looks great Karen!  Great area!

Max is correct on all. Please note that a HML also loans on ARV where a traditional bank will loan at a higher LTV but that LTV is on the current value. So on current value $100k property with a $200k ARV a HML would loan something like $130k (65% of ARV) where a traditional bank would only loan $80k (80% of Current value). This means that a rehabber (in this scenario and many like it) would have to come up with the difference of funds to rehab the property. For this example the rehab could be $40-50k so in the HML example even with fees the investor buys and rehabs the property with no out of pocket cost. If they were you use a bank they would have a lower interest rate but also have up to $70k in out of pocket cost to get the property to $200k value and then refinance with the bank. If you don't have $50-$70k or want to do multiple properties this is where an HML makes sense. Hope that helps.

May want to try destination properties -good people.