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All Forum Posts by: H. Jack Miller

H. Jack Miller has started 20 posts and replied 229 times.

Post: What is your biggest challenge right now?

H. Jack MillerPosted
  • Lender
  • Boca Raton, FL
  • Posts 249
  • Votes 133

we are lenders and investor and our biggest challenge is finding good deals and partners to lend to or invest with. Plenty of capital to put out. 

Post: Looking for Commercial Lending in OKC

H. Jack MillerPosted
  • Lender
  • Boca Raton, FL
  • Posts 249
  • Votes 133

We love the area, Reach out to me

Post: What is the next GREAT opportunity?

H. Jack MillerPosted
  • Lender
  • Boca Raton, FL
  • Posts 249
  • Votes 133

Market turbulence bring opportunity... There is opportunity out there. 

Post: Local or National Commercial Lender?

H. Jack MillerPosted
  • Lender
  • Boca Raton, FL
  • Posts 249
  • Votes 133

I have found its best to look to establish relationships. Some can be local and some national.  

Quote from @Steven Goldman:

Hi Jack: Yes there is a market for JV Partners, second mortgage lenders are anther story. The problem is simple; What do the borrowers have for collateral to support a second mortgage on a half finished rehab.? In our market we have a business purpose lender who will make a second mortgage loan on a partially completed rehab., if and only if, the borrowers have other valuable collateral. That includes a second on the partner homes. The other issue frequently pouring water on that market is mechanics liens in contractor friendly states.

The partial rehab lender we use charges minimum 3 points and 13 percent Interest only on funds advanced
adjusted monthly. . So it is expensive. They also require inspections before draws. Hope that gives you some food for thought. 


 thanks 

A lot of Fix and Flip deals run short of the capital and this leaves the deal in trouble and usually investors are unable to complete the property. Is there a market for a JV partner/ Second mortgage for investors to get capital when they are short that would allow them to finish the property? Maybe JV equity/Second mortgages up to 100k. Is this needed?

Post: Hard money lender advise

H. Jack MillerPosted
  • Lender
  • Boca Raton, FL
  • Posts 249
  • Votes 133

On the surface 20% seems high, but think about it this way. That's the total yield without any other fee's, They are providing 100% of the money needed. So 20% maybe not be high after all and maybe a deal..... 

Post: Syndication Return Data?

H. Jack MillerPosted
  • Lender
  • Boca Raton, FL
  • Posts 249
  • Votes 133

Dont think it exists  

Post: CRE Ownership Drawbacks

H. Jack MillerPosted
  • Lender
  • Boca Raton, FL
  • Posts 249
  • Votes 133

I have been doing in my entire life and there are  a ton of drawbacks.  Capital intensive, market fluctuations, dependent on lenders/banks, hard to lease, lack of cash flow, dealing with all the people you have to contractor, townships, realtors..... the list goes on..... Not easy for sure. but you can make a ton of money