All Forum Posts by: Diana Daniels

I do apologize the fault is mine in making the statement so vague. I was not looking for 100% financing. I did not state that and I did not say I was credit challenged. My credit is very good. I do have funds and want to hold the for any issues that may arise. As you stated I did not want to put myself in a position, as you stated " a large downside" with no preparation set in place.

What I am looking for is a quicker access to funding's on purchases than waiting on my traditional 20 to 30 days in a conventional mortgage.

So thank you for your responses. They are all very helpful. Keep them coming.

Originally posted by @Jay Hinrichs:

Originally posted by @Mary M.:

Time for some real talk: It sounds like you have zero cash and want to invest in RE? This is a disaster waiting to happen. IMO rethink your plan and figure out how to save some cash to use as a downpayment and also solidify your credit so you dont need a HML..... you are exposing yourself to a large downside if something were to go wrong (and thiungs go wrong all the time)

A for real HML is NOT going to give 100% financing to someone starting out.. Do Hard money advertises that .. but they require a 3k fee up front for their education materials.. plus you need your EM deposit plus you need to fund the rehab and wait to get back filled etc.

real estate the ONLY way it really works with NO money down is talking a seller into seller carry back with little or no money down.. It does not happen in the lending world .. UNLESS your Uber experienced with a local lender to knows and likes you.. I have seen those folks get 100% financing for sure.. but not someone starting out and NOT from the internet..

Great place to check for reality is Lending home .com they have a nice matrix on their website and 95% of all HML follow the same guidelines as them.

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Originally posted by @Scott Swanson:

Diana,

What happened with the hard money lenders?

Hello Scott,

After all was said and done they just needed the last 2 final HUD's from me to make the deal work.

I do have limited cash but don't want to strap my self with no wiggle room.

I was approved and thank you for asking.

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Well maybe I spoke to soon, just got a approval I think he forgot about me. I am good now! Thank you Scoot. Off to find a property now.

1 Vote

Being cash short, after several tries with hard money lenders here on this site.

All all of my family is dead so that's out. Any Idea's how to make this happen?

1 Vote

All Forum Posts by: Diana Daniels

Diana Daniels has started 2 posts and replied 6 times.

Post: Looking for Multi Unit Financing for 2 units

Post: New Investor having issues finding funding resources.

Post: New Investor having issues finding funding resources.

Post: New Investor having issues finding funding resources.

Post: New Investor having issues finding funding resources.

Post: New Investor having issues finding funding resources.