All Forum Posts by: Jonathan Gardner

I actually got my credit above 700 and I ended up doing a refi on my own.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Carthage.

Purchase price: $64,000
Cash invested: $3,500

We bought this for $64,000 on a land contract with only $5,000 down plus closing costs for 12 months. We refinanced in 10 months (Property appraised for $95,000) so we were actually able to walk away at closing with $11,000!

Thank you.

My credit score is around 600 which doesn't meet my lenders requirement (660) so need a partner to take on the debt.

The cash out refi is not needed for the current owner, a cash out refi is my way sometimes to purchase property with no money down by putting my llc on title then going to my lender to do the refi.

Hello everyone I am looking to partner with someone that is willing to take on debt with no money out of pocket. It is a duplex that is currently fully occupied bringing in $1,400 a month all utilities are separate besides water and sewer. 

I am able to Have the current owners puts another LLC or personal name on the deed of the property to go to the bank to do a cash out refi. This duplex is located right around the corner from my duplex and that appraised back in March of 2023 at $95,000. purchase price for this duplex is $66,000 and should have praised for the same amount if not actually a little bit more. This is a short-term play for whoever would want to joint venture As I would end up purchasing the property in my LLC within 12 months at market value. If anyone is interested in joint venturing on any multi-family properties near Fort Drum New York get a hold of me

 I have only been a realtor for a little over a year but I've been investing for five years and if you can find me a hard money lender that doesn't require a FICO score that would be fantastic and lend in New York

 As far as hard money I've talked to a few that are local to my area and they all are requesting a 660 or better credit score

 Hey guys the reason my credit is so low is because the $6,000 I owe in credit cards is maxing out my credit utilization which is hurting my credit. As far as my credit goes in the history I have perfect payment history, i do not have any hard inquiries, i have 21 accounts open between my primary residency, credit cards, tractor, car. I just need to get some commissions back to back to be able to pay the bills and throw the rest into paying off the credit cards that way my score will go up but then again that I'll take another 30 days or so to get reported to the credit bureaus and this guy wants to have this property under contract before the end of the month.

Hey everyone, i am trying to get a HELOC on my primary residency to fund two duplexes in my local market but I am struggling to find a lender that will give me a line of credit due to my credit score being around 600. My credit score is this low due to my credit cards being maxed out and I am currently working on getting them paid off, It's only about $6,000. I am a local realtor in the area and have been for about a year now so the transition has been a little tough I do have seven units currently that have helped me get to where I'm at with the transition And I do have about $30,000 worth of commissions pending right now as of June 19th 2023 And Plan on paying off the credit cards. Problem is , the property I'm interested in the guy wants to sell ASAP or at least have it under contract before the end of the month and I'm just trying to plan how I could use my$60,000 roughly an equity from my primary to fund this property. I do have another duplex that I'm trying to buy with creative financing as that is how I have bought everything I currently own besides my primary.