All Forum Posts by: Graham Glover

I haven't been to the other place, but I thought Gather was pretty neat. I can walk there, but parking seemed to be available for the drivers out there.

28th @ Gather has a nice ring to it.

Thanks Bill Gulley! 8-)

And thank you to everyone for all of the responses.

Okay, I see. This is good. You see, I was thinking that a hard money lender would finance 100% of the deal.

Yeah, I guess you would need to have a severely under priced property.

What's to stop rehabbers from running off when they are give $40K over the purchase price?

Hello everybody!

This may be a silly question, but I have been thinking a lot about financing as this is a problem for me (and potentially many of you). I have no cash, not a very good debt to income ratio (student loans!), and let's just say I'm not hitting a home run with my current salary.

So, as I'm thinking outside the box, I realized that hard money lenders sometimes loan more to investors than the actual sales price (usually for rehabs). With that in mind, I was thinking, "would a hard money lender loan to someone the cost of the house + the down payment for refinance?" I'm currently working on a formula (with someone who is much more mathematic than me) for this transaction.

My only question is: Would a hard money lender do this?

It seems that if everybody is getting what they want out of the deal, why won'd they?

It made sense, but the most likely part provided some uncertainty, and that's one thing I would like to be 100% certain about. Thanks, J.

So, what you're saying is: Talk to an accountant? haha

When you wholesale houses, do you have to pay short-term capital gains for each deal?

I wasn't sure how this worked.

Denzel,

Instead of painting your car, you can buy magnets that you can stick on your car. This way, you won't depreciate the value and still still get your advertising done.

Thanks for the advice. I can safely say that the answers to those questions in this circumstance lean more on the landlord tenant side.