All Forum Posts by: Anthony Martin

Hello BP Community,

I am searching for local or national lenders that do $50,000 residential refinance loans for LLCs. I plan to use bridge loans or personal capital to buy and rehab these properties that cashflow $250/mo after expenses but want to be sure I'm able to wrap it into a long-term debt solution. Preferably something with a 6 month or less seasoning would be nice.

 Primarily minimum loan amount not high enough. Trying to change my purchase criteria to better align with lenders.

 Thanks Elise, I will reach out.

 Robin,

I don't have much experience with private money lenders but could you elaborate? I pay cash to buy and rehab the properties or use hard money, but to convert it to a fixed long-term debt solution is where I'm running into the issue.

Hello BP Community, 

I purchased my first rental property under a LLC last year and have been fighting to get the cash out of the property ever since. So I have worked with a few lenders in Pittsburgh at FCW, FNB, Key Bank, and Standard Bank. None have been able to help me and have completely trashed my credit inquiries after overpromising and under delivering. I am currently pulling cash out through Gauranteed Rate and would like to use this money to grow my business through fix and flip and BRRRRing properties. I am looking for a lender, broker, etc that will be able to help me get to 50+ units in the next 2.5 years.

 If you are confident in what you are pitching and willing to share it free of charge I won't turn it down. I still however will be making cold calls and building lists. Every wholesale deal I've ever closed has come from cold calling. I've done lead propeller, ballpoint marketing, virtual cold callersMOJO, hired an SEO specialist and had a website built by a professional, etc and spent $15,000-$20,000 on those avenues. I spent $714 through a list, dialer, propstream and that's when I landed my first deal that was $19,050. Like I stated in my original post, I've taken over a year off. Not because cold calling doesn't work but because I didn't have time and VAs can't get the job done like I can.

 I don't think I'm too lazy or retarded, I just don't think SEO is the best start for immediate lead generation which is my priority. Also, my post was intended for insight on the subject matter; I'm not looking to get attacked for my personal preference. Perhaps talking to people will help you with your people skills which is clearly something you're lacking.

Hello BP Community,

I'm currently restarting my wholesale journey after taking a long hiatus. I know that the current market is drastically different than it was January 2020. I was just wondering if anyone out there who is closing 2 or more deals each month had any advice? In particular, are you wholesaling in your local market only or are you doing virtual deals as well? Are there any particular list I should be targeting? I currently use Propstream and i have been playing around with the filters, but would love to get insight on what filters to use. I know there is not a magic formula and it is up to me to put in the work of making the calls and becoming an excellent closer, but I just want to make sure I put my best foot forward. Thanks in advance!

Hello Pittsburgh BP Community,

I am currently at the refinance stage of my current BRRRR and want to repeat the process as soon as possible. What I am finding difficult is trying to scale my business with the limited money that I have. Since the projects that I'm able to BRRRR are typically less than $75,000, I'm finding a lot of lenders are just ghosting me. My credit isn't the best but it isn't the worst either. I hear stories of people working at Mcdonald's and getting 100 units a year, but it seems I can't get 10 with a $100,000+ salary. What am I missing or doing wrong?