All Forum Posts by: Caleb Bryant

@Nathan R Andersen they state that to seek more attractive. A true private lender is not a professional lender (or at least what investors mean when they private lenders.) there are also people who are lending their own money but are professional lenders, but it will feel no different than hard money lenders when borrowing from them. A private lender is someone you know who is lending their personal money and likely won't have a website for this. It'll be coming from their bank account or self directed IRA or sometimes they'll use a heloc, etc. Matt Faircloth's book goes into detail about all this though and is a great read if you haven't read it already

@Ethan Wilson there’s going to be more and more opportunities like this with the financing market, good luck man!

@Luka Milicevic good luck on the brrrr man, just talked to Aaron Anderson out your way and he said that some of the new construction stuff is going at discounts because they’re trying to get out of their shorter term debt. I think there will be opportunities in the multifamily and commercial space from people who had 2-5 year terms or bridge debt coming due soon.

@Jacob Krafka saw you mention the springs, I’m interested in finding something off market there. Shoot me a dm

@Caleb Bryant we’ve also been pitching “terms” to sellers (owner financing). We were able to pick up a 24 unit just by creating a payment plan that worked for the seller and for us. Buying subject to existing financing has been working as well since most of the properties have current financing in place that is at a lower rate and payment than we could go get ourselves today.

@Linden Hausmann something I didn’t see mentioned (though I just browsed through answers) is that you’re going to have to make A LOT of offers to get the deal you want. Deals get found on the mls but you have an advantage if you are direct to seller. The deals that come at a 40% discount are going to have a problem that justifies that for the seller. This can be a number of things, health issues of the seller, foundation problems that are sometimes more scary than they are actually bad, maybe the home has been inherited and the seller is out of state, or it’s a second home that the seller is tired of paying the taxes/payment on. We’ve had the most luck lately with inherited properties and investors properties who are tired of the RE business and ready to retire.

@Mark Sandoval depending on the property @Dena Puliatti may be able to help

@Christian Ehlers best we’ve done is 4% and that particular deal was 80% LTC for the purchase, we brought rehab money. You have to find a niche person, someone who 1. Trusts you already 2. Has cash sitting in a savings or money market account 3. Isn’t in the business of lending money. I’ve found that this profile tends to want to beat what they’re bank is doing. Most of these are 3-6 month loans as well. With that said, it’s hard to find, but just know it’s possible. Most of our loans end up higher at 8-10%.

@Eric Michiels Michael Blank’s calculator for syndications is a pretty cool tool for analysis, I think he sells it by itself too so not crazy expensive

@Jessie Kristie there will be a lot more deals soon if you’re having trouble finding them now. Sellers are starting to realize that the pricing of 4 months ago isn’t the pricing of today. There is also an opportunity for sub-to deals using the sellers existing lower rate financing. With the economy getting more and more turbulent you will also see some people making moves they wouldn’t have considered 6 months ago because of fear of where things are headed.