All Forum Posts by: Elliot Hendler

Definitely interested in working with someone local

hey yes I understand that I was just hoping for a recommendation of one lender that people have had a good experience with and were familiar with Philadelphia and can provide a DSCR loan…

Hey, I have a SF that is rented, for 1100 a month, with 102,500 pay off to my hard money lender and should appraise for around 160-170k im looking to get out of my hard money loan and into a 30 year fixed, and looking to make a relationship with a lender that does DSCR loans in the area.

Any recommendations or introductions would be greatly appreciated.

So I made a major investment in my business last year, I bought a shop which in Philadelphia is not a cheap undertaking, and I made a few other investments back into the business as well. As far as employees yes that’s my biggest hurdle for the business I’ve fired more guys then I’ve hired this year.

So I guess I need to identify a lending strategy that takes as little upfront capital as possible, I have an awesome track record literally every one of my properties is twice if not more value able than my purchase and rehab cost, and they are earning income, and of the 8 only 4 are under mortgages.

The other thing I need to identify is there a lending strategy that’s better than like cash out refi on the stuff I own? Like I always seem to run into issues when I talk to lenders about a portfolio loan.

I would really like to somehow not do any projects for clients and just work on building my portfolio, I’m just not sure how to make the transition, two years ago I was 15 years into working as a union carpenter, I am honestly still trying to hit my stride with my business it’s doing well but I know I have more to learn and grow. But for my family and future I know the real estate is the smartest thing for me to focus on.

I have a decade and a half of experience working for companies as a carpenter and running work. I always did side work for other people. I built a house for myself and got featured in philly magazine, and then got honorable mention for best home of the year. Since that happened I became extremely busy, and had to make a decisions to slowly do Sidework or do it full time for myself. I pulled the trigger and went into business for myself full time. I am booked almost a full year out already. I have over the last few years purchased and renovated 8 homes which I own and rent out. I have flipped a home, and I bought a vacation property I am getting ready to start construction on.

I am kind of stuck finacially and have basically done all this while learning on the go I want to grow from here. Any advice or willing mentors would be huge.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $75,000
Cash invested: $30,000

This is a typical deal for me, not a full gut, refresh bath and kitchen, paint, and floors.

What made you interested in investing in this type of deal?

It was another cheap for me buy and hold

How did you find this deal and how did you negotiate it?

one of the agents I deal with regularly borught it to me

How did you finance this deal?

Hard money, into a 30 year fixed

How did you add value to the deal?

Paint, new cabinets, redo bath, LVP flooring.

Any one recommend any lenders to refi out of hard money loans?

Hey everyone this is my first post.


I have a decade and a half of experience working for companies as a carpenter and running work. I always did side work for other people. I built a house for myself and got featured in philly magazine, and then got honorable mention for best home of the year. 

Since that happened I became extremely busy, and had to make a decisions to slowly do Sidework or do it full time for myself. I pulled the trigger and went into business for myself full time. I am booked almost a full year out already. I have over the last few years purchased and renovated 8 homes which I own and rent out. 


I have bought my newest home with a hard money loan, it’s rented currently. I am having a little trouble doing a refinance because of how my income looks. I have 3 more on mortgages and the other 4, I bought with basically the money I earned over the years doing side jobs. I am not sure how to grow from here, but would be super appreciative of any advice, or resources or ideas on how to navigate these forums. Thank you so much.