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All Forum Posts by: Henry L.

Henry L. has started 6 posts and replied 14 times.

Post: Hard money lenders without income but high credit score?

Henry L.Posted
  • Chicago, IL
  • Posts 15
  • Votes 7

I am in business school now at a semi target school where lots of alumni work in commercial real estate and finance at top firms so hoping I can network. The school is very entrepreneurial and I have access to venture capitalists and angel investors. Just last week an alumni stopped by who is working on a 80 million dollar international real estate development project of his own where he got funding through investment firms. I am networking with everyone and got his contact info. I do have money for 15%. 

In order to get hard money without a day job it appears you need to do at least a few deals first to prove yourself? Is this correct. One of my clients is starting to flip houses and has a few rentals he does full time, so I may approach him to take me on a deal. Trying to think of how I can position it.

Post: Looking to break into real estate development!

Henry L.Posted
  • Chicago, IL
  • Posts 15
  • Votes 7

Hello fellow BiggerPockets members. 

I recently graduated from university and am looking to break into real estate development either for myself or working for a developer. My background is entrepreneurial. I started two small businesses while enrolled in college. Being that I am not coming from a top university with any real estate recruiting I have failed to even get the opportunity to interview with any real estate developers. I have been cold emailing and trying to network into interviews. This strategy did work for an internship which I did at a commercial real estate brokerage. Do you have any advice for getting in contact with developers? I am in the Chicago area. 

Another option would be doing this myself. I have a high credit score, no debt and about 10k of play money I am not worried about risking, I am saving as much money as possible right now to reinvest and cooking meals myself, staying with roommates, etc. to cut costs. No stable income though as I just graduated college which is the major issue in getting traditional financing. 

I would really like to work for a developer as an assistant project manager or really any role to get some knowledge of the business. 

Nice job. Inspiring to read and see the pictures of it done succesfully. Congratulations. 

I would not trust those, many are either scams or predatory lending that will hurt you in the long run. 

0% apr credit cards can be nice depending on your credit score and if you will be able to pay it off before interest. I have well over 50k limit on my cards.