All Forum Posts by: Bobby Feinman

Assuming that you are the lender… Geraci law firm. They are in California and their entire practice is in private lending.

@Gabriel Graumann

The type of loan you need is referred to as a DSCR loan. Good news here is that we do not look at your income or tax returns.

The loan is made based on 3 primary factors:   Credit Score, LTV and the DSCR calculation. DSCR simply put is Income/total monthly payment & management fee (if any)

Happy to discuss further with you!

Bobby

@Matthew Trainor

We can assist you with this. Happy to jump on a call

Bobby

@Richard E.

Before I became a full time lender, I was a builder and f&f guy for over 20 years. So, I have a lot of experience with making offers. This is what I did and this is what I advise my clients:

           Make your offers to read "Cash or Existing Credit Line" 

I, the lender, am the existing credit line and can provide proof of funds letters as well. This is looked on much more favorably by sellers than saying the needs to obtain financing to buy the property.

Hope this helps!

Bobby

VERY Experienced Investor that has done several F&F's in the area and also owns 5 rental properties that he purchased and rehabbed.

This Property is set to close in the 1st or 2nd week of June. Prior owner was rehabbing the property and passed away unexpectedly. Purchase price is $318,000 and the rehab budget is $200,000.

Initial funding at closing is $254,400 towards purchase with borrower putting down $63,600 (20% of purchase). $200,000 rehab budget will be held back and funded on work completed in draws after property inspections.

CCF will stay involved after closing and handle all inspection and draw requests for Buyer.

Coastal Capital Funding is a Nationwide Private Lender located in VA Beach, VA. Call or email me for more information!

Coastal Capital Funding is Coming to a Market Near You!

Are YOU an Eager, Self-Motivated, Service Oriented Individual that is Passionate about Real Estate and Financial Success? If so, We Want to Hear From YOU!

The CCF Family is a Young, Dynamic TEAM of Dedicated Professionals Committed to Excellence and Success. Here are a few Additional Reasons to Join our Family:

• Unlimited, Uncapped Commissions
• Six Figure Income
• In House Processing
• In House Marketing
• Exceptional Support
• Extremely Competitive Rates and Loan Programs
  • Single Family
  • Multi Family
  • Mixed Use
  • Small Balance Commercial

Please Include Your Resume in Your Email. We Look Forward to Hearing from You!

Coastal Capital Funding is Coming to a Market Near You! 

Are YOU an Eager, Self-Motivated, Service Oriented Individual that is Passionate about Real Estate and Financial Success?  If so, We Want to Hear From YOU!

The CCF Family is a Young, Dynamic TEAM of Dedicated Professionals Committed to Excellence and Success. Here are a few Additional Reasons to Join our Family:

• Unlimited, Uncapped Commissions
• Six Figure Income
• In House Processing
• In House Marketing
• Exceptional Support
• Extremely Competitive Rates and Loan Programs
  • Single Family
  • Multi Family
  • Mixed Use
  • Small Balance Commercial

Please Include Your Resume in Your Email. We Look Forward to Hearing from You!

@Allison Keng

Allison - all the other posts are excellent advice. I would also add that there is an additional route that you can take - becoming a loan originator for a Private or Hard Money Lender. There is no licensing required and there are companies that will provide training. Another option for you to consider!

Bobby

@John McKee

Hi John. We have an LO in the Atlanta area. How can we assist?

Bobby

@Kimberly Schroeder

As a private lender myself, what you need is a partner on the deal that will provide the cash needed. I would also suggest finding someone with experience in our space since you are just starting out. A "Branded PML Company" is there to fund the loan and not be partners on the deal. So, I do not think you will find a lender that will provide the down payment assistance. Hope this helps.