All Forum Posts by: Matthew Nixon

@Carlos Villalta

 Welcome to the community!

What's your experience as an operator/investor @Sasha Friedman?

I'm glad I could help. I'd recommend a quick google search of McAllen Texas hard money and see what comes up. Good luck. @Anna Ayala

Have you considered a bridge/hard money loan? Your credit won't be an issue if you're buying the property at a discount and you can refi out once your credit is fixed. 

@Anna Ayala

@Anna Ayala

Is the purchase for a personal residence or investment property?

@Scott R.

@Account Closed

If you have little to no capital, experience, or network (relationships), the chances of breaking into this market is very low.

If you have two of the above I'd say you can make it happen. Multi-family is capital intensive so that's not the niche I would focus on if you're starting out. 

I often read "investors" here on BP complain about receiving listed properties from wholesalers above list price when in reality the list price has nothing to do with whether it's a good deal or not. Home owners can list the property for whatever price they want, so to base a decision off the list price is very un-savvy.

It takes work to get a property under contract, and I don't have time to scour the MLS all day and negotiate terms with the agent so if a wholesaler sends me a deal... and it's above list price... and the comps are there to support the resale value to hit my target ROI, I'll pull the trigger.

I'm not defending wholesalers who send out bunk deals, that stuff is annoying.

@Joe Kling

Yes indeed we do offer residential fix and flip loans. 

In California we offer LTV's as high as 95% of the purchase w/ construction holdback. Feel free to give me a call with any additional questions.

*Loan amounts up to $5,000,000

Commercial Loan Summary:

Property Type: Apartment Complex

Number of units: 24

Purchase: $720,000.00

Loan Offered: $504,000.00

Term 25 Year (NO Balloon)

Rate 8.9%

Projected Funding: 3 Weeks

If you or anyone you know are in need of funding for small commercial projects, please contact me. I look forward to providing you with commercial permanent funding options.