All Forum Posts by: Don Taylor

Looking for a lender who offers interest rates of 12% or below.

Hey everyone! I am looking for a private money lender that can fund on a 6 unit property in the Bay county area for around $400K with great monthly cash flow. I have already been preapproved through various DSCR/Commercial lenders however they are all requiring 25%-30% for the down payment. I have the capital available for that size of a down payment but I really don't want to tie up that much cash into one property. I am wondering if there are any lenders on here that are able to fund the entirety of the loan with at least a 10%-20% down payment and/or a private money lender that can help fund the 25%-30% down payment with one of the lenders I have already been preapproved with. I also have another investment property located in Enterprise, Alabama that has about $150K of equity currently in it. However, after running some numbers on a cash out refinance, the current rates would nearly obliterate the $800/m I'm gaining in cash flow on that property as it currently has a 2.25% interest rate. Does anyone have any creative financing advice that we could get this deal done without needing as much upfront cash? Seller is absolutely not willing to do seller financing of any kind as she is sick and needs the cash now. Thank you to everyone who responds!

Close to putting up earnest money with a closing attorney in the state of North Carolina. I have a property I am extremely close to closing on with a 275k asking price I just need a concise conversation with a hard lender or private so I can assign my contract with the seller. Serious inquiries only for this property in Durham NC due to the fact I have an engineer report from the owner, 1 year old appraisal, Comps done, ARV above 600k, and a contract ready to be signed.

I have a property under contract. The purchase price is $105K. Rehab estimate is $67K. Req'd down pmt + est debt service coverage total = $58k. We need $35k of this to close and cover debt service. This is a BRRR. Does anyone know of a private/hard money lender who will finance just a portion of the cash to close? Thank you.