All Forum Posts by: Jimmy Booth

I’m looking to get my first investment property in the Macon Ga market, but not sure how to get started with finding financing. Most of the properties I have been looking at are $50k and below, but most need middle to significant work to be livable. Is a hard money loan to buy and fix up the best route or are there options to get funding that will cover the purchase and rehab of the property? I may have left out some other important pieces of info, but I’m ready to jump into the game and start to build my portfolio. Any advice is GREATLY appreciated.

 Are you still seeking a property in New Bern?

@Keyonte Summers I definitely could use that contact. Looking to get some loan info for either rehab or refi out of hard money.

@Igor Levit Hey Igor, I’m in the same position. Looking for lenders to refi out of the hard money loan. Who did you end up going with? Any advice?

That would be perfect, but I am in Georgia and the properties in their current condition aren't livable.

I have, but I am not familiar with hard money lenders, so I was seeing other options. I would not be opposed to hard money, but I feel there are alot of variables with the exit strategy I was planning to use which would be a refinance to a regular lender, but ARV on the back side could be an issue with that strategy. Just trying to explore all options and make a move.

 That sounds like a great route since the property would not appraise for what is needed to complete the upgrades. Where do I find these lenders? 

I am trying to find a lender for investment properties in the Detroit area. Most of the properties I have been interested in are less than $15k but require significant work. I have come across some companies that would be willing, but have minimum loan amounts of $100k. I think with my first property, we would be all in at about $45k, maybe less. What is the best route to go as I am looking to get started ASAP. Any advice is greatly appreciated.

@Angelica M Garzon thank you. They both are a done deal they have already made the curb cuts for the hospital and have sent out flyers to local residents asking their opinion on what the front of the hospital should look like in the hotel has been confirmed as well. I am actually just looking to move it a lot sooner than later I have another piece of property that I’m looking to acquire but need to sell this land fast.

Does anyone have experience dealing with a franchise wanting to buy your land? I have a commercial acre that a major fast food franchise wants to buy, but wants to wait 12 months for a hotel and a hospital that is coming with a mile. Not sure sure how to navigate this. Any advice is appreciated.