All Forum Posts by: Chris Silvas

@Tony Battle @Lee S. Any insight to what websites could provide cell phone numbers??

Hey guys. Thanks for the hard money advice. What I'm really looking for is someone who will finance me for 15-20 years, with no w-2, etc as I don't have those anymore. More of an asset based loan. 

Also, the guy's account is now closed. I realized he had been a "member" for only a couple of days prior to reaching out to me. That was sign #1. Then, the "lender" sent me some horrible looking email with grammar errors and really bad formatting. Sign #2. I then asked about their fees and that I wanted to be sure those could be paid at closing through the title company. The guy said nope, their points and fees had to be paid directly to him. That's when I googled the "company". Sure enough several people had been scammed. General rule of thumb is to only pay the title company and let them handle paying everyone out. 

@Fred Heller @Haseeb Awan @Brent Coombs

Yes the numbers are good numbers. I will even say be ultra conservative and drop it down to $2500 a month. It still seems like a great investment. Don't hesitate to link up with me. I always love working with others real estate investors. 

I am purchasing a rental and am looking for someone who may be able to finance about $60k. Any help from the community is appreciated. Thanks. 

I have a deal and am looking for a private lender. This deal will only be about $60k for purchase and repairs. I am looking to buy and hold. 

By the way, there was guy on BP who reached out to me and referred me to some lender. Upon further talks, I realized it was a scam. I would hope that this was a one off situation but just keep an eye out guys. 

@Robert Grant Yeah that sounds like something I would like to explore a little more. Can you PM me with the info? Thanks a lot Robert. 

I have a rental property I am purchasing and about to rehab. It's projected to cash flow for $3k and I would be asking for maybe a $500 note per month. Anyone in the BP community offer private lending based on cash flow of the property? Not sure if it's relevant, but I'm in the Houston area. Also, I no longer have a W2 job, and with this being my first rental, most banks aren't really willing to work with me. Any help is appreciated. Thanks.

Charlie Price I tried to message you but it says your info is private. Just click on my name and it should pop up a link to message me. Your vacation plans sound awesome by the way.

I have an appointment Tuesday with the case manager on a foreclosure. ARV is about $140k but with all the charges the seller currently owes $111k for payoff. Also, the house probably needs $30k of work done to it (roof, a/c, fence, backyard patio, etc). I'm planning on putting a package together to offer about $75k. Any lenders or anyone else with short sale experience have any input or examples of what the mortgage company is looking for in the offer package? What are some nice things to see, some do's and don't's. Any information is much appreciated. Thanks guys.

Thanks everyone. Charlie Price sounds like you've stayed pretty busy. Perhaps I can PM you with for some guidance on this rental. Thanks.

I am purchasing a property that is projected to generate gross rents of $3,000 per month. When I am done rehabbing the place, I am going to be looking to cash out about $60-$70k to do another project. This would be a ballpark figure of about $500 per month in a note (assuming 6%, 20 years). As I am not employed by a company, and as I have just started to buy rentals, conventional banks will not lend to me right now. Is there any person or company I can talk to who will lend based on the strength of the cash flow. I believe  generating $3k per month and asking for a $500/month note reflects very strong cash flow metrics. I live in the Houston area. Any help or direction is greatly appreciated. Thanks.