All Forum Posts by: Chris Mcdonald

@Stephen Predmore

Have you found any lenders locally that do not require the 6 month seasoning period for a refi?

@Stephen Predmore

I’ll have my contractor do the roof, bathroom, and kitchen. I need to clear out the house as it is an estate sale. I will paint clean, landscape.

Biggest decision right now is whether or not to add central air or not?

No, i won’t be adding a bathroom or bedroom cause this already a pretty small townhouse.

@Stephen Predmore

6 month loan

0 % down for this one

But the HML wanted 20% of the house value down payment. The minimum loan they would offer is $80k and offered 100% financing on rehab

I’m sure others offer better terms and even they said they would get more competitive as I prove myself

@Stephen Predmore

The local hard money lenders ranged from 2-4 points at closing and 12-14% rate

Luckily a private investor funded this project for 2 points at 11%

I would check out Trius Lending or Kaine Investment

@Alexander Lee

Baltimore Real Estate Agent.

Once Covid is beat always down to network or brainstorm!

@Randy Sommers

I’ll consider “soft” money if I have to. My short term loan is 11% hoping to be 5-7% on a fixed 30 year. But the lender did say they are shooting for 15s and 20s at the moment.

This will be a trial and error, hopefully I can prove the process to myself and rinse/repeat!

@Tyrone Marson

Thanks Tyrone, I want to see pictures and progress posts of your upcoming project too!

@David Robinson

I know all about Parkville but trying to keep my portfolio to under a 10-20 minutes radius. But sometimes you gotta go where the deals are

@David Robinson

West side of the city, Violetville

@Jeremie Torres

I’m a new real estate agent so no longer a w 2 employee so I had no option to use a traditional bank. Hard money for now.