All Forum Posts by: Mike Hoskins

@Paul McVey welcome to BP! This sight has helped me immensely! I’m in NSB area also. I’m looking to start a meetup in the area very soon. There are a few of us BP REIs in central Florida. We’d love to have you.

I’m dealing with this very issue! I’m on the down hill side now... it’s taken a couple of years of hard work and determination, as well as paying some high interest rates to get back. I ended up down in the 400’s as well. Regardless of circumstances it just couldn’t be avoided, I had to address it. Justified or not I was in debt and(student loans and all) I had to contact lenders and make arrangements and follow through! Most creditors, even student loans, will work with you if you contact them and keep your word. Many will even negotiate a lesser settlement. 

Go for it. You got this! 

Happy Tenants Equal Better ROI

Retired Army Seargent with Integrity and attention to detail! Currently Maintaining SFR, Multifamily and Condos as well as RV/MH Parks in central Florida.

Direct scheduling and respectful interaction with your tenant for their convenience and satisfaction.

Expedient and Efficient Maintenance, Repair, Turnover and light to medium flips. You benefit in quality service at a discount and I gain REI experience for my portfolio.

Low hourly rate +material cost 

References available upon request!

I just got off the phone with an out of state investor who has some deals closing here in central Florida. He is looking for JV partners and reached out to me. I'm sure he, at a minimum, was quite entertained by my excitement to actually receive contact. Although I wasn't quite in the place to give him what he needed in that moment he did have a great idea to build my way to be more marketable.

While working on my REI business I currently do rental maintenance here in Central Florida for both a property management company that I contract for and an RV park.

He recommended that I start by offering property management on BP and after researching it appears I need a RE Brokers license to actually manage properties, however my LLC is perfectly legitimate to perform the maintenance that I'm already doing, and billing for under said LLC.

That being said, I am a retired Army Sargent that offers a strong work ethic and integrity with attention to details both physically and financially. I have references, tools, reliable transportation(and a drivers license) and time to take on your rental maintenance or your small flip! ( I am not a licensed contractor, I would be more classified as a handyman ) 

I worked as property maintenance before the military as well as did quite a bit of flooring installation under my own license in WA state on the side. I also have worked on a couple of flips with my brother. I will never take on anything I can’t do or work out of my scope of practice and my rates are fair and I don’t pad my time! I respect your money and your tenant. I can deal respectfully with your tenant and schedule times that work for them. 

Thank you to @Dustin Rose for the idea and listening to me ramble and @Charles Roberts on BP podcast 278 about the willingness to work hard. I look forward to the opportunity to continue growing in RE investing.

My favorite episode by far! I love the work and have ethics and integrity all while maintaining systems and patience! As a retired Army Sargent it’s everything I know! This makes for a solid foundation in my opinion! Thanks Charles!

@Alan Centurion @Rob Woodyard@Michael Plante@Evan Kopczyk

let’s schedule a meet up. 

Yes, it's ashamed we live in a world like that but its in every business. The key is patience and go with your gut. If it sounds to good to be true then it probably is.

@Danny Randazzo thanks for the feedback. I have this deal taken care of. I thought it usefulr to post this topic as there are many newbies that get so excited to do a deal they may think that just because someone responds to the request through BP for hard money that they are immune from predatory lenders. I know BP works hard to keep everything legitimate but the best of organizations just can't screen everything and scams are destined to get through the cracks.

So I recently inquired about hard money for a deal I was working on. I utilized the BRRRR Calculator and at the end I hit the blue " contact a lender" button. Within a 24 hour period I received a couple of very professional and fair legitimate offers. Perfect! Now to the meat of this post... I also received a very odd email from someone who claimed to be with a reputable New York lender but his contact info was an Indiana phone number and instead of the typical email that most of their reps used such as "Jim @ lender.com" (not real email just a for instance) this persons email was a gmail address. No big deal but threw up a red flag. I contacted the individual who asked in an email to me for my email address (2nd red flag) and I asked him for more on his programs. What follows if a copy of his response to me. "Thanks for your prompt response to my mail , I really appreciate that . I have seen and gotten your loan request with all sincerity and honesty and I want you to know that you're in the right place where you can be funded with less stress okay. For us to proceed properly with this transaction i would want you to go through my loan terms and conditions below and get back to me if they meets your needs >>>>LOAN TERMS AND CONDITIONS<<<< This is to inform you that before you qualify in getting a loan from our company you will have to agree with some certain condition which are listed below 1. We fund directly and don't work with escrow or title companies. 2. You must be willing to pay back the loan funds within the due date. 3. You must agree with the interest rate which is 3%. 4. The loan amount is going to be base and approved on the 90% LTV. 5. Repayment is made Monthly or Yearly depending on the choice of the borrower and the repayment schedule for a Loan is calculated and sent to the borrower. Clients are giving 2 months of grace before they start making their repayment of the loan funds with no prepayment penalty. 6. You will have to send us a scan copy of any of your ID CARD for proof OF Identity 7. There is usually a one time fee which is called "Loan origination cost". It will cover the processing of the loan documents and transfer of funds to your account and this usually depends on the amount you are looking for. The fee is paid before closing... 8. No loan can be approved for a borrower with credit scores below 500. If you fully agree to the terms and conditions you should get back to us so we proceed further with your transaction by forwarding you a loan application form to fill... Thanks, Reps name removed for anonymity..." Now I'm not saying this is not legitimate but it certainly follows a pattern of many of the money scams I've heard of in the past. I do not plan on using this lender and I hope that many of the newbies out there are cautious and don't get so caught up in a deal that they fall prey to scams.( again I am not saying this person is a scam artist, I won't give the opportunity to find out). There are plenty of legitimate lenders out there that are willing to work with anybody and never ask for you to anything outside of escrow with your money sent directly to them upfront. Hope this helps.

@Dustin Rose I'm in New Smyrna Beach south of Jacksonville. Send me some info at [email protected]