All Forum Posts by: Garry Miller

I’m an experienced private money lender offering fast and flexible funding solutions for real estate investors. Whether you’re looking for funding for fix-and-flips, rentals, or other investment properties, I can help you secure capital without the hassle of traditional financing.

If you need financing for your next deal or just want to connect, feel free to reach out! Let’s make your next investment happen.

Thanks will reach out.

0 Votes

Dallas, Texas

Quote from @Magnus Wikström:

Hi @Garry Miller,

You can't bring another million? I think that will help. Few that do that type of leverage on that size of deal.

Is it refinanced once infrastructure is in place?

Thank you Magnus for the reply! I have an update which I will also upload above.

Instead of bringing the extra million, we've reworked the schedule and reduced the budget needed! $10M will cover us for the Horizontal for the whole project. We can break the Horizontal into 3 phases so we can align with funding milestones. We have a 60M loan in place that will activate once we show progress that will allow us to fund the Vertical construction and finish out the complete project.

Thank you - i hope these numbers bring us closer to a more balanced deal. Let me know your thoughts!

0 Votes

Dallas, Texas

Quote from @Mike Grudzien:

Garry,
I'm surprised that working at this level of real estate development and deal size that you and your partners don't have at least a dozen lenders in your back pocket that deal at that level and like your work....
I'm interested in seeing the answers here.

Great question - we've had a lot of success with these not quite dozen, but 7 lenders and they're all in on their respective deals to finance the Vertical construction, secured by the housing assets yet to be built. This request is for a short term, construction/bridge loan so we can get through the infrastructure phase only. More transparently - it gets us out of the land bank holding phase now. Available cash is servicing the debt, with construction partners on the sideline waiting to be put to work. Thanks for the clarifying questions - I hope this opens up some more perspectives about how to solve for this opportunity!

0 Votes

Dallas, Texas

Hello BP!

My team is looking to obtain 20M in financing for a 237 unit development in Texas that has approved plans with entitled lots and is ready to go Horizontal with infrastructure. We have about 3M of liquidity to bring to the deal and are looking for finance solutions that will allow us to break ground. We have financing in place that kicks in once we have utilities in the ground and will allow us to build the 3 phases of 2400sqft SFH's. All plans are in drop box. Investment to be made through an LLC with 700 credit score guarantor.

Advice or referrals from the network very much appreciated!

Thanks,

GM | [email protected]

2 Votes

Dallas, Texas

Quote from @Leslie Nunn:

Quote from @Joseph Jakubik Sr:

Hello. I'm a land investor that buys vacant lots all over the country. I was mainly buying in Florida but have branched out. I've had to turn down deals because I had money tied up in other investments. I do not want that to happen anymore. I'm reaching out to see if there are any private or hard money lenders out there. I generally get the lots under market value so they usually are easy to sell quickly. My longest land flip was on the market for 3 months. I've reached out to some of the big name lenders. Unfortunately I was denied because I ruined my credit trying to keep my construction company running. Big mistake!! I was hoping there was someone out there that is a private lender that could give me a bridge loan to purchase and sell the lots. They could possibly see my purchase price and see the potential selling price, realizing that the land will sell and loan would be satisfied plus whatever flat fee or percentage the lender wanted for the loan. This is my first time reaching out for financing so I'd love to hear from anyone that lends or had to get creative with raising capital. Thank you.

I would love to connect and see how we can do business

Reached out

0 Votes

Dallas, Texas

Quote from @Ámlèh Quáwáin:

Quote from @Joseph Jakubik Sr:

Do you invest in land using an entity or as a sole prop?

I can offer a syndicated loan, but we’ll have to package the offer based on your approach to investing

Reached out.

0 Votes

Dallas, Texas

Afternoon Team!

I hope all is doing well. I'm working with a Developer who has several lots across Texas, all secured using loans. I was wondering how to go about locating funding to assist with us breaking ground on these properties and going Horizontal i.e. doing the infrastructure and utilities. We have funding for Vertical development but it only gets "unlocked" once we can show progress. We have entitled and approved plans for 237 SFH 2400sqft, and a builder ready to go. I'm looking for ideas on how to get over this hurdle so we can start building on the first phase of homes.

1 Vote

Dallas, Texas

Quote from @Clayton Silva:

Yes typically 3 options available for most of our clients who do the same thing:

1) Land loan for acquisition (we can do 80% leverage on residential land up to $500k loan amounts). These are hard to qualify for because of the lower DTI requirements and they are on 10 year amortization schedules so the payments are pretty high even though the rates are reasonable.

2) Hard money/ground up construction. These are ideal if you are ready to buy and build immediately terms on these vary pretty drastically depending on leverage requested, experience level, FICO, etc. Once completed, people refinance out of these into a primary or investment property 30 year loan. (You are going to want to get pre approved for the refinance BEFORE you get the hard money loan to ensure a smooth exit).

3) One time close: these are for people who want to keep the down payment low and avoid the refinance process. These come with some significant downside because your offer is going to be less attractive than most due to longer escrow timeframes. Typically these take 45-60 days to close and are a nightmare for the contractors who request the draws to get paid. They are inspection heavy and fairly arduous underwriting endeavors, but can be a great way to get into a property and get building right away.

For options 2 and 3 you are going to want to have plans, permits, budget etc. very dialed in before close of escrow to ensure a smooth process.

Hope this helps!

Thanks Clayton - will reach out privately with another deal in search of financing in Tx.

0 Votes

All Forum Posts by: Garry Miller

Garry Miller has started 2 posts and replied 8 times.

Post: Private Money Lending - Fast, Flexible Funding for Real Estate Investors

Post: 20M to fund horizontal utilities on 237ac entitled plot

Post: Need advice on raising 20M to fund horizontal utilities on 237ac entitled plot

Post: 20M to fund horizontal utilities on 237ac entitled plot

Post: Looking for funding

Post: Looking for funding

Post: Need advice on raising 20M to fund horizontal utilities on 237ac entitled plot

Post: Buying Land & Building