All Forum Posts by: Gerald Koonce

Does anyone know if there is a BP Podcast on purchasing Tax Lien Properties?

Hey guys I am the process of doing my 4th investment deal.  For this deal my family member would like to loan us the money to go towards this next property rehab.  How would some of you guys go about drawing up a contract between us and the family member.  We have agreed to pay them 7% interest monthly if that helps.  

@Ben Guttman ok. Let's chat. I will inbox.

@Tarik Turner thanks so much. Its an 80k job from the estimate I was given.

Hey guys I have a question. I recently purchased my 3rd investment property cash in Baltimore, MD. I'm still new to the fix and flip and wanted to know if Hard Money Lenders assist solely with the rehab portion of a fix and flip or if you must get assistance with the acquisition and the rehab portion?

@Odie Ayaga I am looking for 85 to 90% LTV with a maximum 70 to 75% ARV with interest somewhere between 12 - 13%. Do you have any suggestions?

Hey BP community.  I'm considered a real estate newbie, working on acquiring my 2nd investment property to rehab and refi.  I was wondering if anyone knows of some Hard Money Lenders who are lending during this economic turbulence.  So far I have spoken to Lending One and they are not generally lending right now.  I am waiting to hear back from Lima One but they don't have the best reviews.  If anyone knows of a reputable company please let me know.  

I am a first time investor in Newark.  Contrary to some of the comments here, I took a chance and invested in the West Ward.  Rutgers acquisition of the old UMDNJ as well as the investment in the area - Shoprite Shopping Center, 25 Jones Street Luxury Apartments, etc is what caused me to choose this location.  Thus far I own a 2 Family off of South Orange Ave and in the 7 months I have owned it, it has appreciated 14%.  I definitely encourage people who are looking to invest to not be afraid and take the leap.