All Forum Posts by: Jeremy Phillips

I had a few companies who reached out to me and ran hard inquiries to lower my credit. My questions is who would you recommend to remove these recent inquiries? How would you go about getting these recent inquiries removed from my credit? 

@Doran Summers who do you know that do not offer no upfront fees?  They attempted to give me the same offer.  

@Nathaniel Birdsong did you find someone who offered better rates or did you go ahead and go with Direct Lending Partners? 

I wanted to see if there are any commercial hard money lenders that lend in Kentucky, Ohio, and Indiana.  I have come across a deal that is a 13 unit apartment and the rent roll is $6,615 a month X12 ($79,380 annually).  There is an upside because the owner is paying the water and all of the units are separate besides 3 units which are 1 bedrooms.  The owner also pays the electric for 4 units because it can not be split.    The mix is (9) 2-bedrooms and (4) 1-bedroom.   If anyone could refer a commercial hard money lender that lend out for multifamily apartments 5+ units or greater it will be greatly appreciated. 

May I ask whether this hard money lender you are using is it local?  I am asking because there are not many hard money lenders that will do 100% of the financing.  If they are not local do you mind sharing their information? 

Hello Louis Luciano,

Why don't you and your wife do a few wholesale deals or birddog some deals in your area?  I am sure there will be investors interested in investing in that area especially if the deal is right.  I actually want to invest in the area of Charlotte, NC or at least in the outskirts of it.  But, if you wholesale some deals at least you can put some money towards your house to help compensate while your wife is in school. 

Are you trying to purchase property(s) or are you trying to invest in another investor deal like a private lender?  

I have 13 years in real estate with multiple properties, so I am just trying to get an better understanding of your question. 

Thanks everyone for sharing!! I think if I do go forward with this project I am going to partner with another investor.  

A lawyer would not structure the deal to make sure everyone is clear?  Are you saying the lawyer would not do the paperwork?  

Are there any great local attorneys who have expertise in private lending? Are there any attorneys who have knowledge on how to structure deals with private lenders who want to invest in real estate with their IRA, 401K, savings or stock, etc. I am in the Kentucky area.

I will put down 15% of the purchase price as the down payment and ask 65% to 70% of the asking price to purchase the property.