All Forum Posts by: Miranda Holland

Alot of private lending companies will work with you. 

 A lot of private lending companies offer cash out refinances. Funding is primarily based off the value of the property. I sent you a PM 

He might be serious but I wouldn't take that bet. It's especially weird that this guy doesn't have a real company address and offering you 100% financing for your 1st deal. There are hard money companies with full infrastructure who wouldn't take that risk.  

If he is serious, there's a lot he's not telling you. I wouldn't do it man. I'd rather find the 20% to put down and go with a real company that closes with the use of a title company than risk giving that man my bank account information. 

Btw, as a private money broker, I've only seen lenders ask for bank statements or send PLAID links to verify your bank account information. You can pay for the appraisal with a credit card.  

Right now I'm seeing 7 to 8%

Funding is pretty fast with companies that lend private and hard money.  However, they also require appraisals. Most of the lenders I work with will be ready to fund within a few days after the appraisal report comes in. I sent you a PM

Manufactured homes can be difficult to finance mostly because of the property value. The further below 100k, the harder it becomes to find a lender that will finance it. I sent you a PM 

This is happening a lot.  Lenders are finding all kinds of excuses to get out of a deal. Truth is, they don't have as much money as they want people to think they have. I sent you a PM

There are lenders who will lend you money for your 1st deal if it makes sense. The biggest hurdle for 1st time investors is coming up with the 20% down payment. I'll send you a PM 

If it's your 1st deal and you're not able to raise money from your family and friends, your best bet might be to start off working with private lending/ hard money lending companies. 

After you build a portfolio with them, you'll be more credibility to approach individuals who want to invest passively in your projects. 

I have several lenders that offer up to 80% LTV but most only qualify for 70% to 75% LTV. Property value, credit score and experience have to all fall into place to qualify for that 80% LTV.