All Forum Posts by: Karen Smith

Hey everyone! I am looking for a private money lender that can fund on a 6 unit property in the Bay county area for around $400K with great monthly cash flow. I have already been preapproved through various DSCR/Commercial lenders however they are all requiring 25%-30% for the down payment. I have the capital available for that size of a down payment but I really don't want to tie up that much cash into one property. I am wondering if there are any lenders on here that are able to fund the entirety of the loan with at least a 10%-20% down payment and/or a private money lender that can help fund the 25%-30% down payment with one of the lenders I have already been preapproved with. I also have another investment property located in Enterprise, Alabama that has about $150K of equity currently in it. However, after running some numbers on a cash out refinance, the current rates would nearly obliterate the $800/m I'm gaining in cash flow on that property as it currently has a 2.25% interest rate. Does anyone have any creative financing advice that we could get this deal done without needing as much upfront cash? Seller is absolutely not willing to do seller financing of any kind as she is sick and needs the cash now. Thank you to everyone who responds!

Seeking a private money loan of $350k for a residential assisted living facility in Contra  Costa county, CA. Funds will be used for down payment on real estate and startup costs. 

Five years forecast key information: 

- Revenue: $2.88 million

- EBITDA / Sales: 32.51%

- ROI: x 76.38%

- Profitability: one year

-Break even point: three years

Looking for a lender to do a DSCR with a quick close; I previously owned property but not within the past three years.

House sold at $234K, already put 20% down, willing to put more down to qualify or get a better rate.

It's a turnkey two-unit, renovated in 2019, and comes mostly furnished. 

We're planning on doing furnished medium-term rentals and anticipate rents around $1700/unit.

Was using a different lender but they required more recent experience, have a closing date of 09/20 we want to meet.

Let's talk! I might be able to help! 

Send me a DM!

 Speed, speed, speed. A reliable lender can fund a loan within days, this opens the door to countless more deals allowing you to get the best possible price.  If it is a direct lender you are able to work to find more favorable terms because they usually determine their terms on a deal by deal basis.  Like Jay said, there can be more flexibility in repayment options.  Securing a good lender can greatly accelerate your real estate investing journey.

@Karen Smith

As jay mentioned private lending has been around forever and it’s really not on the rise - I think it’s always been a large player in the real estate investment space for short term loans.

Prices have increased (higher terms/rates) as the fed rate has gone up so you have seen people who could get 8 or 9% now in double digits. I think the 10-14% rate is where it will be for the next five or so years personally so plenty of opportunity