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All Forum Posts by: Mary Ainsworth

Mary Ainsworth has started 30 posts and replied 226 times.

Post: Wisconsin new construction

Mary Ainsworth
Posted
  • Lender
  • San Diego, CA
  • Posts 230
  • Votes 93
Quote from @Jacob Thorpe:

I am looking for private money to fund land acquisition and new construction.

I am looking for 213k, at 80-90% LTC

Strong credit if applicable 

355 ARV

4 month build time

what do you have to offer?


 Hi Jacob, 

I could assist with this! We fund

- 100% of rehab 

- up to 90% of purchase

- no points for your first deal with us (1 point after that) 

- rates between 8.25-12.50% dependign on the deal 

I'll DM you to discuss more 

Post: Need funding for ADU conversion

Mary Ainsworth
Posted
  • Lender
  • San Diego, CA
  • Posts 230
  • Votes 93
Quote from @Brian Joseph OConnor:

I have a 4/4 rented out coliving style that I've only had for a few months and it's cash flowing well with me self managing. I have a detached garage that I want to convert to a 1/1 ADU for additional income. I don't have enough equity for HELOC, or cash out refi. No luck finding the 50-60K funding so far. Does a have an idea or know of a lender willing to do a stand alone 2nd mortgage?

once the ADU is done and rented it'll be time for me to cash out refi out of the FHA, pay off the ADU loan and move on to my next deal.


there’s got to be a way to make this happen 


 Hi Brian, 

Do you only need 50-60K? my company offers 2nd positions for this but generally needs to be 100K loan, I DM'd you 

Post: Hard Money Lender

Mary Ainsworth
Posted
  • Lender
  • San Diego, CA
  • Posts 230
  • Votes 93
Quote from @Cesar E Gonzalez:

Any referrals for Hard Money Lenders in the Bessemer/Birmingham area.

I would appreciate some info on this.

Thank you,


 Hi Cesar, 

Just sent you a DM, I'm a hard money lender - we offer fix & flip and DSCR loans! Let me know if you'd like more info

Post: Fix and flip project to fund

Mary Ainsworth
Posted
  • Lender
  • San Diego, CA
  • Posts 230
  • Votes 93
Quote from @Jack Warren:

 Hi Jack, are you a private money lender or hard money?

Post: BRRR --San Antonio, TX-- investor

Mary Ainsworth
Posted
  • Lender
  • San Diego, CA
  • Posts 230
  • Votes 93
Quote from @Azat Suleimenov:

Hello,

I'm starting my BRRR investments in San Antonio, TX market. I'm off-state investor, located in Bay Area, CA

Looking for Real Estate Agent, contractors, lenders connections.
Ping me!


Hi Azat, I'm also an our of state investor as I live in San Diego but invest in Oklahoma. Great strategy! For my BRRRRs I use a bridge loan then refi into a DSCR loan

The company I work for does this actually - we lend up to 90% of the purchase price and 100% of the rehab cost. Plus we charge NO origination fee/lender points for your first bridge loan with us 

Let me know if you'd like more info :) [email protected]

Post: Income Based / DSCR Refinance Loan - 80%+ LTV

Mary Ainsworth
Posted
  • Lender
  • San Diego, CA
  • Posts 230
  • Votes 93
Quote from @Dane Reinhart:

Hello all - 

I purchased a triplex in Phoenix back in August using a combination of hard money and seller debt. The property was purchased vacant and has since been leased at 20%+ rent increases (vs. last in-place).

I am looking to refinance the purchase loans into a lower interest rate loan. The property's income is very high, so I'm looking for something DSCR-based at the highest leverage supportable by the cash flow.

Are there any lenders who you can recommend that would be open to a 80% LTV or higher refinance, assuming the income clears the necessary DSCR thresholds?

 


Hi Dane, we offer 80% LTV DSCR loans across the country and only charge 1 point for our origination fee. Rates for a 1-4 units are 5.75-7.25% depending on the property and numbers behind it

Let me know if you'd like more info :) [email protected]

Post: Watering Foundation in OKC?

Mary Ainsworth
Posted
  • Lender
  • San Diego, CA
  • Posts 230
  • Votes 93

Property owners in Oklahoma City - do you water your foundations? I just found out foundations in OKC are susceptible to having issues... I had a couple questions if anyone's willing to weigh in:

1. Do you do it every day? Twice a day?

2. Do you do it year-round? 

3. Is it worth it?

4. Could I instead hire foundation repair and soil stabilization services to prevent foundation issues?

I'd love anyone's input!

Post: Looking for good hard money lenders with under 10% interest

Mary Ainsworth
Posted
  • Lender
  • San Diego, CA
  • Posts 230
  • Votes 93
Quote from @Slaven Slugic:

Anyone has any recommendations on hard money lenders with good rates, quick turnaround?


 Hi Slaven, I just DM'd you as well but our bridge loan start at 8.50% and we actually charge 0 in origination fee/lender points and 1 point after that. In order to get 8.50% you have to be very experienced though. I'd say 9.50% is more realistic 

And for bridge we close these loans in usually 7 business days.

Let me know if you want more info!

Post: Seeking Private Money Lender for Lot Deal Under Contract

Mary Ainsworth
Posted
  • Lender
  • San Diego, CA
  • Posts 230
  • Votes 93
Quote from @Joshua Davis:

New to BP.

I have a Lot deal with a extremely tight closing window under contract. Had secured all funding which has now become temporarily unavailable. Looking for a private money lender for 200k.

Thanks,

Josh


 Hi Josh, at my company we can close in a matter of a few days, let me know if you still need financing - my number is 619-599-6970

We normally charge 0 origination fees/lender points for your first deal with us too when you're from BP

Post: connecting with HML's & GAP funders

Mary Ainsworth
Posted
  • Lender
  • San Diego, CA
  • Posts 230
  • Votes 93
Quote from @Ivan Ariel Davila:

Hey guys I'm new in the house flipping business I am currently in a mentorship program that has produced many flips. I would just love to connect with hard money lenders as well GAP funders to just go over terms & interest just to have in file for when I do start my projects, I know who to call!


Just DM'd you too but would like to connect! I finance flips as my bread & butter and we have quite competitive terms

We also offer NO origination fee/lender points for your first deal with us

Let me know if you want to connect!