All Forum Posts by: Jonathan Casillas

If you where starting out (under the bank lending limits) and had good credit I would start with local credit unions. They tend to have the best rates. And when it comes to flexibility within the banking world they tend to have more lea way on what they will allow on loans do to the fact that they usually don't sell off their loans. That being said I am partial to Consultants/Brokers (wink..wink). For most investors even those who start with banks end up using consultants either because they have hit there local banks lending limit, have maxed out there DTI (dept to income ratio), or are to busy to make the calls and visits the banks.

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Most Hard Money Lenders have some sort of PPP (pre payment penalty) at least for the first 3-6 months (the intrest is how they make money). That being said on the refinance side it depends on the lender how long you have to hold title to the property before they give you a better deal. There are a lot of people that use HML to purchase properties and then refi out after improvements. HML's tend to be quick and that allows someone to take the property off the market before someone else scoops it up.

I would look at working with your local credit unions. With good credit and a good down payment they will probably be the place to get the best rates. I would shop around at a few to make sure you get what you want. 

That depends on the number of lenders you will be taking on. If you where to do a profit share long term ( I would not share with something you did not help in) I would put a time limit on it. That way you can increase your capital and if need be by freeing up equity for another bigger lender/partner. 

Now if there going to be long term investors and keep helping you when you need it with better then good terms on the loan at that point it might make sense to do some type of profit share.

i would also like to know. 

Personaly I would go by type of real estate stream. Examples would be Notes as one stream, buy and hold second stream, hard money lending third stream. I would do it this way because when looking at the streams the criteria differs more by type then by individual in each type. I would like to know what others think.

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Contact us for more information

Respectfully Yours

Jonathan Casillas

Foxworth Commercial Capital Sales Director

www.foxworthcommercialcapital.com

[email protected]
O: 800.278.1239 ext. 700

C: 919.901.0872

[email protected] 

I am looking for the same. Thanks for posting the question. 

This is great info. @James Wise is there any other places you use?