All Forum Posts by: Antonio Gonzales

@Gary E. London

I may have a resource for you. Let me get back to you.

Hard Money Made Easy!

Let us Help Finance Your Success

I provide direct, private, hard money lending for residential & commercial real estate in Arizona, California, Nevada & Texas. Our 2 most popular loan products are the following:

• Fix/Flip Loan: Between 70-80% Acquisition Loan + 100% Rehab as long as total loan is less than 65% of ARV.
• Construction: Up to 50% Land Loan + 100% Construction as long as total loan is less than 60% of ARV/Completed Value.

The terms range depending on the project:

• Rates: 10-12% (Interest Only Option)
• Points: 2-4
• Doc/Admin Fee: $600
• Term 6-36 months
• No Prepayment Penalty

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   1. Contact Antonio Gonzales for a quote within 24 hours!

P: (619) 889-8579 E: [email protected]

Copyright © [2015] Lantzman Lending, 11696 Sorrento Valley Rd., Ste #201,

San Diego, CA 92121

CalBRE #01522724 / NMLS #296471

Michael,

Welcome to BP community! Feel free to reach out to me as resource. I am local CalBRE broker, private lender and investor. Living in the Point Loma rehab may be challenging from living perspective and productivity perspective. There may also be issues depending on the financing you are obtaining for rehab. I would like to hear more about your project, so feel free to contact me to set up a time to meet. My office is in Sorrento Valley area.

Good luck!

Antonio

@Brett Wolk, welcome to BP! I am a CalBRE Broker here in San Diego. I also represent a RE investment firm and a private lender, so I come across a lot of properties and scenarios here locally. I would be happy to answer any questions you might have about real estate investments and opportunities. 

San Diego is difficult to find properties that fit 2% rule, but I do believe you can find some good investments that will cash flow depending on your criteria. I have one client that I have been building a rental portfolio for and we are now on his 4th rental property that he plans to purchase in the 4th quarter as we picked up the 3rd during this last quarter.

Although the cap rates will be thinner than other markets, you do have location working for you in terms of desirability. We all know the value of location. As I am sure you have noticed in our local market, as values have increased over the last few years, so have the rents. There is also value to having the properties in close proximity, especially starting out with your first real estate investments.

Good luck!

Antonio

@Jason Farmer, I think @Karen Margrave would be a perfect resource for you. She is a developer with a wealth of experience and located in Orange County. She is also well versed in structuring JV's if the opportunity has potential.

Once you have a development and construction budget, I would be happy to provide some financing options for the ground up construction. I am a direct, private hard money lender and we have specialized in these type of projects. We are based in San Diego and available as a resource. Good luck!

Excited to see the final product. Those views are amazing!

@Account Closed's offer to check out her projects and pick her brain. I have visited her projects personally, and they are impressive. She also has a wealth of information regarding the construction process, especially with the nuances of dealing with properties close to the coast.

@Account Closed, feel free to reach out. I am CalBRE Broker and work with Private Lender here in San Diego. We finance new construction. I also work with Investment Firm that acquires properties with value-add potential including new development. Having a strong team is essential in development projects. Maybe we can meet to discuss in further detail? I am sure I can provide some resources for you.

Good luck!

@Jerry Poon, Joshua Nudell had some great info. @Karen Margrave thank for the mention. I am a private lender based here in San Diego. We do not generally report to credit bureaus. There have been occasions where a borrower has a great history with one of our loans and they initiate a credit bureau to contact us to verify and provide a mortgage history that credit bureau will add to borrower's account that will be included in scoring.

The loan and payments should be included in your loan application when qualifying for other loans including traditional conventional loans. 

Traditional Bank Pros: 

• Lower Rates
• Generally Lower Fees
• Longer Terms of Loan, i.e., 15-30-40 years
• Several federal and state authorities regulate banks along with the Federal Reserve. These include: The Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) and the banking departments of various states also regulate financial institutions.

Traditional Bank Cons:

• Possibly Lengthy Application Process
• Strict Underwriting Guidelines including financial documents to support debt to income ratios
• Longer Underwriting Times that can go between 45-60+ days depending on property.

Private Lender Pros:

• Fast & Easy Application Process due to being asset-based lender.
• Credit Score less of a factor as the weight is based on ability to make payments and not debt-to-income ratios.
• Generally quick funding turnaround between 5-10 business days. 
• More flexibility to customize loan to accommodate needs of borrower. This includes being able to lend to a borrower that may not have the best credit or a recent Foreclosure, Short Sale, BK, that would otherwise be declined from traditional bank.

Private Lender Cons:

• Higher Rates
• Generally Higher Fees
• Shorter terms that range from 6 months to 5 years
• Less regulated, so be sure to do your due diligence on the history of the private lender.

I tried to be as concise as possible, and I know there are more pros and cons to both routes, but I tried to at least highlight the main points.

Feel free to reach out with any other questions. Best wishes!

@Chris Benitez, meet with a mortgage lender to get Pre-Approved and make sure they provide you with several loan options to choose from. There are some great programs for 1st time homebuyers and it is important to know your options. You may want to start with buying a small condo that you can live in for a couple of years and then rent out as you move up to purchase another property. This is a great way to build investment properties and utilize tax benefits. I'm not a CPA, but definitely discuss those benefits and options with tax advisor. I have a good friend that owns his own mortgage brokerage locally in San Diego, and my clients love him because of the thoroughness he provides in the buying process. Feel free to reach out to me and I can put you in contact. I am an CalBRE Broker, investor, and direct private money lender here locally that has been in the real estate and finance industry for over 12 years. Good luck!