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All Forum Posts by: Haley Cisar

Haley Cisar has started 4 posts and replied 12 times.

Post: Looking to start private lending

Haley CisarPosted
  • Posts 12
  • Votes 16

Thanks for all the responses and advice! 

Post: Looking to start private lending

Haley CisarPosted
  • Posts 12
  • Votes 16

Interesting view! I've had a few PML say that's plenty of cash on hand to start out and using your heloc is there if you want to use it. Thanks for your input

Post: Looking to start private lending

Haley CisarPosted
  • Posts 12
  • Votes 16

We plan on using our own money. We have roughly 70k sitting in a high yield savings and also our heloc on our current home.(paid off) Estimated 350k. Pros/cons for using either one?

Post: Looking to start private lending

Haley CisarPosted
  • Posts 12
  • Votes 16

Thank you everyone for the advice and input!

Post: Looking to start private lending

Haley CisarPosted
  • Posts 12
  • Votes 16

Hi everyone! We are hoping to start the process of becoming a private lender to investors. 

I would imagine our first step in this process is speaking to a lawyer to make sure we have the needed documents and protection. We are looking for recs on lawyers you have worked with around Tampa Bay. Also any advice you have to two young people just getting started would be appreciated! 

Quote from @Devin Peterson:

What is the loan size? I know of a few places that go down to 75k


 They are asking 109k, and I'd put down 30k. Though, I'd love to offer less - 85-90k (needs some work)

Isn't the DSCR loan high interest as well? Is that a loan I can keep long term or is it more short term?

I was thinking of doing a cash out refi on my primary but I was running into this- say I offer 100k using 70k heloc and 30k cash, then cash out refi and pay off the heloc but I guess the minimum for a cash out is 100k. So I'd have an extra 30k that I'd have to pay on when I didn't even need it. Eats away at my cash flow for sure too. Is there another way to go about that?

Hey yall, I found a great duplex in Indianapolis I'm looking to buy and hold. Just need some cosmetic updates. They are asking 109k and we are able to put down 25-30%. Our current lender will not loan due to the loan size. 

What other creative funding options do I have here? We do have a heloc option on our current primary we can use too up to 50k. But of course the interest is high and fluctuating. TIA!

Post: Looking for an amazing BRRRR team

Haley CisarPosted
  • Posts 12
  • Votes 16

I am a new investor and in Indianapolis for a few months. I would like to start a BRRRR while I'm here. I am looking for my rockstar team! Any recs would be greatly appreciated!