All Forum Posts by: Darren Natoli

I wasn't  planning on moving on to another flip until my property sold that is going to be listed  but this is a home run deal that was brought to me and I don't want to pass it up. 

Second position that's why I would be willing to pay such high interest. I have approval for 100k from my hard money lender but I am short the rest.  I have one hard money loan on my other properties I own now and the note total is $75k. All properties Combined would value $200k+ As is so I have plenty of equity and I personally have 70k cash of my own invested in these. The problem is the way the note is written up it shows 75k as first note on each property and I am not able to access any of the equity until the property I am putting up for sale this weekend is sold. It will pay off my note and allow me to access my cash from my rental properties as they will be free and clear.  This will allow me to that is needed for the new deal I have under contract. As soon as my property that is going up for sale is sold I can pay back the short term loan I am looking for. 

Hi BP.

I have a great flip under contract and I am short on the financing. I have 3 other properties. 2 rentals and 1 flip in the Central Florida area. My flip that I just finished rehabbing will be going on the market this weekend. Most of my cash is tied up in these properties and a great deal was brought to me recently but I won't be able to cover all the financing until my property going up for sale is sold. The flip I have under contract is an off market pool home on a golf course which needs a cosmetic upgrade. I have it locked up at 128k and the ARV based on recent sales in neighborhood would be around 265-280k. I am looking to borrow 40k. It's going to need 30-40k rehab. I am willing to pay 25-30% ROI and will be able to pay it off in 3-4 months. Anyone interested let me know thanks

What is the After Repair Value and how much is estimated rehab cost? That will be a big factor. Also are you buying it as an investment property. The private lenders I have dealt with in the Orlando area will determine how much you have to put down based on these things just as much as credit.