All Forum Posts by: Boris Grinberg

Hi James, 

Your best bet is to search Google or BiggerPockets for hard money lenders in your area.

However, you can also contact private money lenders directly and shop around for the best price yourself. 

Hi Rotchild,

I'd love to help you out with your first flip!

We offer up to 80% of the purchase and 100% of the construction/rehab costs for first-time borrowers. Our rates start from 9% with points, and we have no points programs that start at 10.75%. We finance SFR's, multifamily, condos, and townhouses.

Hi Gerry, would love to connect with you! 

@Anietra Knox - most people start real estate investing part time so your path is very common. There are many lenders that offer financing for first time investors. The leverage will be lower and your interest rate will be higher. But after 1-2 deals it will improve. Good luck with your journey and let me know if I can help.

I am a looking a good and reasonably priced inspection company for purchase of a 35 unit multifamily property in south side chicago.

Any help is greatly appreciated.

We are looking forward to this event. Historically it attracted a good crowd in Staten Island and we hope for a similar enthusiasm for this year gathering in AC. Please stop by our booth to say hello.

@Keith Resnover there are pros and cons of working with hard money lenders. Specifically: speed, flexibility, willingness to lend with higher leverage and for properties that bank would not finance. 
But if you have enough downpayment money to borrow from bank and ok with longer timeliness - bank financing is much cheaper option for you or other investors.

If you do chose to explore financing with hard money lenders - you have to do your homework/due diligence. Paying upfront is absolutely no as legitimate lenders do not have upfront charges.

We are hard money lender so if you have any questions - please feel free to PM me.

@Charles Graham - reading some comments about LLC on this chat and reckon that it may be worth while consulting a good RE lawyer. Setting up LLC costs a bit of money, creates paperwork and potential tax work. But nobody talks here about downside scenario - something happens on premises, someone got injured or worse. LLC, if property structured, may protect you/your other assets.

Not suggesting that your energy should not be spend on core business of searching for deals. Just saying that setting up LLC, in my humble opinion, is worth considering.

@Charles Graham - how long does it take to set up LLC in MA. I know that in NJ it takes 10 min so no reason to rush. In some states like NY it can take longer - probably makes sense to get it out of the way.

@Charles Graham - Accolend is much lower than 11%..