All Forum Posts by: Anthony Susco

@Varma Adduri, I agree with @Brent Coombs and @William Powers that the spread on this project is not that great. Your refinance amount (assuming 75% of ARV) will at best be $172.5k so you have to be prepared to have $35k+ cash in the deal even after refi (including holding a financing costs).

You need to make sure that your net income on the property gives you a ROI that you are comfortable with.

That being said, my company has completed many HML for the Buy, Rehab, and Rent portion of the BRRRR system and have great relationships with mortgage brokers and banks to help refiance you into a longer term loan. Most of our contacts will refinance up to 75% LTV, but no more than 100% LTC even within 6 months of original purchase.

Send me an email if you would like more details. 

Ashmore Partners is a private real estate lending company dedicated to helping real estate investors succeed.

• We have extensive experience in our own Real Estate Investing projects
• We use that experience to bring a consultative approach to Hard Money
• We are a Direct Lender ensuring quick, smooth transactions

Investor Friendly Loans:

• Loans from $50,000 to $650,000
• Close in as little as 10 days
• Funding up to 75% LTV, 90% of purchase price, and 100% of rehab cost
• Rehab draws are funded the day of the inspection with a low $250 inspection fee

Straight Forward Rates and Fees:

• 14% interest only monthly payments
• 4% origination fee 3% origination fee for first time borrowers
• $250 appraisal fee, $500 attorney fee, $30 wire fee
• No Additional "JUNK" Fees

Contact us today to get started:

• www.AshmorePartners.com
• [email protected]

Make Flipping Houses a reality:

@Ralphy Rosado, welcome to BP. As everyone metioned, there is an abundanc e of helpful resources here on BP, most importantly other investors to help build your network.

I have been flipping houses in NJ for over 5 years and would be happy to connect with you and answer any questions you may have.

@Krista Thompson, welcome to BP! This site is a great resource for networking with like-minded investors.

I have experience in all phases of real estate investing from Wholesaling to fix-and-flip to buy-and-holds and I am now a hard money lender in NJ. 

Let's connect to see how we can help each other.

@Andy Whitcomb,

I agree with @Erica Muller. In the current "cash is king" market, you really need a solid POF to submit offers and ultimately get them accepted.

If your investors are only looking to fund part of each deal and don't want to put up any money before they see what project you have to offer, you could go the route of a HML. Usually you can do a very quick pre-approval and get a POF letter with bank statement to get the ball rolling.

@Dan K., My company currently only lends on the east coast, but we broker with a national lender that has a great rental refinance program. Send me a message and I can give you more details.

@Tzvi Balsam,

Send me an email with some further details (purchase price, rehab amount, exit strategy, etc) and we can setup a call to discuss further. We are a direct lender located in NJ so would be able to close quickly (as little as 10 days).

Ashmore Partners is a private real estate lending company dedicated to helping real estate investors succeed.

• We have extensive experience in our own Real Estate Investing projects
• We use that experience to bring a consultative approach to Hard Money
• We are a Direct Lender ensuring quick, smooth transactions

Investor Friendly Loans:

• Loans from $50,000 to $650,000
• Close in as little as 10 days
• Funding up to 75% LTV, 90% of purchase price, and 100% of rehab cost
• Rehab draws are funded the day of the inspection with a low $250 inspection fee

Straight Forward Rates and Fees:

• 14% interest only monthly payments
• 4% origination fee 3% origination fee for first time borrowers
• $250 appraisal fee, $500 attorney fee, $30 wire fee
• No Additional "JUNK" Fees

Contact us today to get started:

• www.AshmorePartners.com
• [email protected]

Make Flipping Houses a reality:

@Jay Hinrichs,

I agree with you regarding upfront fees. Before starting our own HML company, we have dealt with several other companies that charge large upfront fees only to drag out the process and not end up actually funding.

Unfortunately, a lot of people/companies make a lot of money this way in lending and teaching.

That is the exact reason why we limit our upfront fees to $250 payable at the property inspection. All remaining fees are paid at closing on the Closing Document

@Elizabeth Sylvince,

I would be happy to discuss funding this project for you. Please send me an email and we can setup a call to get the process started. We can fund in as little as 10 days.