All Forum Posts by: David Smith

I just have some questions about working with private lenders. 
I have been reaching out searching for private lenders for real estate investments. I have finally found one I think that I can work with. Freedom Loan Services Corporation. I sent him the project details I had, he liked it. I filled out the application but have NOT given out any sensitive information yet. Like SSN or anything. Sounds like we are down to the last few items before wire transferring funds to me. He asked me for the following-

1: Company certificate (for companies only)

2: Drivers license/SSN

3: Utility bills

4: 1-3 months statement of account

5: Documents of the property to be used as collateral (if any)

6: Provide Loan origination cost for the processing and transfer of your loan funds 

7: Bank details for funding (closing)

I have their website, but how can I fortify myself so I’m not being scammed. What they are asking for seems pretty standard in regards to receiving a loan. But since this isn’t the traditional bank I can walk to down the street, what is to stop them from receiving my sensitive information and running off, stealing my identity, etc.

Thanks for reading!

I currently own a small multi family but would like to scale up. In my W2 job I’m a production manager for a manufacturing facility in the Midwest. 
Any advice on how to connect with private investors to help fund deals for large multi family properties?

Appreciate your time, thanks!

Hey all! I'm a new investor. Trying to lockdown a 5 unit small apartment. It will be a BRRRR. My lender needs comps, I can't seem to find any and I don't have an agent. Any ideas? The property is in a small town, Sheldon, MO. I have reached out to a few real estate agents but haven't heard anything back.

This might be a silly question, but I truly don’t know. So let’s say I have an out of state rental property, then I put a property management company in place. Then the property needs its first repair. What happens? The management company calls me and I pay for the repair remote? Should they have the ability to front the repair then bill me? Do I trust them to make the most responsible call when it comes to repairs or should I arrange it? (Using a reasonably priced part, and reasonably priced repair personnel, etc.)