All Forum Posts by: DeMarrius Payne

What are your opinions on getting a small business loan to start a rehab business? Operating under a LLC, wanting to get started with hard money. The loan will cover down payment on he hard money. Also is 25% down normal for hard money?

@Account Closed I assume it's the site in your signature? 

David Seroy perfect response!!! I appreciate it

I am looking to build a team in the Greensboro, Winston, Triad area of NC. Looking to get into rehabbing. I am currently seeking investor friendly agents, attorneys, and reputable lenders (hard money preferably) I am hoping the BP community can point me in the right direction. I have some cash ready to invest just making sure the details are in place. I would appreciate any other advice as well. Happy Holidays!

How about hard money? If a property is listed for $30k and needs $30k renovation. Couldn't you pay cash for the house and ask a hard money lender for the other $30k? For fix and flip strategy.

David Seroy typically speaking, would that $14k come from out of pocket or would the lender count that as part of the loan? Basically I'm asking if the lender will consider the closing costs with loan.

@Rob Sasser do you mind sharing some of your wholesaler connections? I recently decided to go with rehab route and looking a wholesaler and/or investor friendly real estate agent. Will def try to make the next deal makers meeting next month. 

Assaf Furman thanks for the suggestion

Suggestions on hard money lenders in the Triad?

Welcome to BP Bob Scarborough !!! Tons of information here. Use that search bar for any questions you have I'm sure you'll find what you need. Good luck