All Forum Posts by: Jon S.

We need an appraiser in Charlotte that is fast and quality.  Please post any solid recommendations.  Thank you!

If you go into real estate investing with no risk capital then you are setting yourself up to fail.  Real estate investing should be evaluated like any business.  All startup ventures require capital for various reasons.

Now when it comes to specific deals, it is possible to structure the actual acquisition and renovation with no out of pocket.  We typically see that done by utilizing a hard money lender along with a private lender or second lien holder for the closing costs.  

There are also private lenders in markets that will finance everything into a deal.  These lenders typically require some experience and may want a equity on the backend.  It just depends.  

In either case, an investor will still need capital for debt service and contingencies with the renovation at a minimum.

Please provide the name of any Knoxville Appraiser.  Need to be fast and familiar with subject to valuations.  Thanks!

Benjamin,

You may want to look at Lifestyles Unlimited.  Realtors there personally invest and work on behalf of investor clients.  I am happy to connect you with the lead realtor if you want to explore.  PM me with your contact information if you want me to follow up.  Thx.

js

We have borrowers in multiple markets utilize Net Worth Realty and they can definitely be a good source for deals. Every deal is different, so I always encourage my borrowers to do their own due diligence in addition to utilizing any information provided by NWR. They provide an initial estimate of rehab needed and ARV, but it needs to be vetted by the buyer. If there is a lender involved, there will typically be an appraisal as well. I would say this is typical of any wholesale deal.

In terms of the financing, get with multiple hard money lenders and find the deal that works best for you.  In my experience, they do not force a buyer to use 212.  They are flexible as long as the buyer can close.  

Unfortunately we do not lend in WI or I would certainly offer assistance.  That said, there are zero instances where any borrower should pay a lender any amount of money up front.  The only fee that might be paid prior to closing is to an appraiser.  The lender should only collect a fee once the loan closes.  There are too many variables.  Sorry this happened, but hopefully your post provides insight for others.

Seun,

We can close deals in 3-5 business days in Indianapolis and lend up to 100% of cost.  Very simple process....very simple product.  We are also a Premier member of CIREIA, so we know the market well.  Please contact me to discuss.  Thanks.

I live in St Paul....pass it everyday...pls send info

[email protected]

Hello Andrew.  We close in 3-5 business days in Dallas.  PM me to discuss.  Thx.

Each investment opportunity is different and will require you to evaluate the best loan for your scenario.  You need to have options folks.  Create a good list of lenders and make sure you understand the features/benefits of each.  The numbers will always show you which way to go.  We often refer business to other lenders when our product is not the best fit.  Make sure your chosen lender is acting as a resource, not just pushing you into a product.  No one lender can solve every investor's capital needs.