All Forum Posts by: Kerry Boyle

If you can find a conventional lender and make the deal work - do it. Hard money should be used if at least one of the following is true and the deal is profitable:

1. You won't pass underwriting requirements (income/DTI/# of loans financed).
2. Property condition is not finance-able through conventional/fha loans (condition, repairs seller won't fix, as-is condition).
3. Market is too hot to allow the required time for conventional/FHA/203k financing.

Two family apartment building? Is this a 2-unit residential building.

Get free quotes from several different lenders and choose which works the best for you. Look local and national, as local guys may be able to assist in other ways but may be more expensive. National may have more guidelines, but if they don't affect you - you may be able to do it cheaper with them.

Hello BP!

We are a Direct Hard Money Lender out Bethesda, Maryland. Specializing in Fix and Flips and mutually-profitable deals. Reach out to me regarding free project consultation from our construction analysts for your fix and flip.

Fix and Flip:

75% of purchase and 100% of rehab with first rehab draw paid at closing!

Fast response times, funding in as little as 5 days.

Free price quotes can be done in one phone call.

DocuSign available, so you don't have to worry about print/sign/scan.

Wholesale fees may be financed! (call or email for details, as some states vary).

Cash-Out Refinances:

No seasoning requirements, can cash-out purchases with other lenders or cash purchases up to 75%.

Free price quotes can be done in one phone call.

Great for replenishing your liquidity after a foreclosure purchase.

Bridge the gap to long-term loans, while replenishing your capital.

CA, CO, CT, DC, FL, GA, IL, LA, MA, MD, MI, NC, NJ, NY, OH, PA, TX, VA, WA, WY

(exceptions may be made for other states on a deal-by-deal basis)

Unfortunately not for HI, however IN can be reviewed as an exception. Shoot me a quick bit of info to my email and I'll get you at least a preliminary answer.

Hello BP!

We are a Direct Hard Money Lender out Bethesda, Maryland. Specializing in Fix and Flips and mutually-profitable deals. Reach out to me regarding free project consultation from our construction analysts for your next fix and flip.

Fix and Flip:

• 75% of purchase and 100% of rehab with first rehab draw paid at closing!
• Fast response times, funding in as little as 5 days.
• Free price quotes can be done in one phone call.
• DocuSign available, so you don't have to worry about print/sign/scan.
• Wholesale fees may be financed! (call or email for details, as some states vary).

Cash-Out Refinances:

• No seasoning requirements, can cash-out purchases with other lenders or cash purchases up to 75%.
• Free price quotes can be done in one phone call.
• Great for replenishing your liquidity after a foreclosure purchase.
• Bridge the gap to long-term loans, while replenishing your capital.

CA, CO, CT, DC, FL, GA, IL, LA, MA, MD, MI, NC, NJ, NY, OH, PA, TX, VA, WA, WY

(exceptions may be made for other states on a deal-by-deal basis)

We do 75k+, no seasoning requirements. No DTI/income checks.

Short term 6-24 months and up to 75% LTV.

We can do 50-75 on exceptions.

I'm not sure why one would ever even question conventional vs hard-money.

It is conventional until the bank says no.

Thanks @Brian Eastman, that is what I suspected. Very clear and thorough response!

If you own a management company personally, can you pay that company through your property in the IRA as an expense? I think in this paragraph you are saying all activities must be at arm's length, so you wouldn't be able to do business with your IRA-held property. I just want to confirm.

What kind of lender are you using? It seems like a regularly amortizing loan over 30 years. No pre-payment penalties?

It looks like you will make more money flipping than wholesaling this one. If you are confident in completing the flip quickly and selling it asap - then it looks like a slam dunk.