All Forum Posts by: Dwayne Lawrence

Oh, and in regards to Proof of Funds, contact a few Hardmoney lenders and find one that you might consider using, and let them know that you are needing proof of funds. They will confirm that you are an investor they could provide funding to and will provide proof of funds at no charge. The proof of funds will be for a maximum amount. They'll let you know how much the amount is. The proof of funds will be good for one month. After a month, you'll need to obtain a new proof of funds from that lender or you can obtain one from a different lender of your choose.

I wish you all the best. It's a great time to be involved in the RE investing business in LA right now.

Dwayne Lawrence

West Los Angeles RE Investor / Architect

Ludmila -

You might try The Funding Warehouse, in Canoga Park, CA. They are one of the only lenders that I know that loan Earnest Money Deposit (they charge 5%). They also will do loans which include 100% purchase, 100% rehab, and closing cost & holding cost (including loan interest), as long as the overall loan amount is equal to 75% of ARV. (To be clear I am not affiliated with this lender or get any kind of monetary compensation for referring you to this lender.)

They do require a percentage of the net profit for this type of loan, as a joint venture partner on the project. But, as you mentioned a percentage of something is better than 100% of nothing.

We are using them for a project right now, with these types of terms.

Let me know how it goes.

Dwayne Lawrence

West Los Angeles RE Investor / Architect

Hi Judy -

Welcome to BP ! I recommend that you reach out a bunch for input from the BP community. It's a great source for contacts, resources and information. Also its good to find a real estate investment club to attend and talk with as many people as you can, (but don't get sucked into spending a lot of money buying programs though).

I have some good information that I purchased about how to do wholesaling the right way, which I am willing to share with you (no cost), if you'd like some information without the fluff or promises that everything is done for you?

I wish you all the best. It's an exciting time to be involved with real estate investing right now.

Take care,

Dwayne

Hello BP Los Angeles virtual community -

Our real estate investing co. has a high-end residential rehab project that is in escrow. We have some contractors we could choice from, but we could always use some additional options. If your are a great general contractors and would be interested in working on a very nice project, or if you are a investor who could recommend someone, that would be great. 

Thanks for your consideration and recommendations.

Dwayne

Los Angeles RE Investor 

Who can tell me about RVM? Does it provide a more accurate estimated property value?

How does it compare to an actual appraisal?