All Forum Posts by: George Despotopoulos

@Jay Hinrichs - Well said. A lot of below average/mediocre fix & flip investors have been bailed out by Home price appreciation over the last 5 years. The real measure of successful investors will be determined over the next 5 years in my opinion...

The few HML's that will lend you money on smaller deals will probably ask for 12%-14% rate with 4-5 points upfront...

@David McBrayer - No problem. Best of luck to you and I hope everything works out. 

Always happy to help if you have any other questions. 

@David McBrayer - I agree with what you are saying. 

I am just giving you the market reality out there for Hard Money Lenders and how they are thinking about it. 

Small or large deal...I look at them all

@David McBrayer. Doing a smaller deal takes away resources from doing the larger deal with more economics and not to mention the additional element of risk as I explained above. 

@Jay Hinrichs - Agree with you. 

@Jay HinrichsI know. There is no such thing as 100% financing in the market. I am just giving @Cinde Moore some recommendations for Hard Money Lenders that are willing to go higher in leverage. 

@Jay Hinrichs - Agree with you 100%. Unless the investor is doing a significant amount of business with the Hard Money Lender, the Lender will usually look for at least $100k in property value and $75k< in loan amount. Aside from making $$$, the HML needs to take into account the fact that if the property goes into Foreclosure the fixed costs for a smaller loan are the same as a larger loan which effects your final recovery value as a lender.

@Cinde Moore. There are a number of lenders out there for you to use. See a list of hard money lenders below:

Anchor Loans

LendingHome

Genesis Capital

Civic 

@Jeremiah Hight. You should look at specialty lenders that are focused on financing rental properties. The lenders look at the income of the property rather than your personal income to qualify you for a loan. Keep in mind they will look for a cash-flowing property from Day 1 in order for you to qualify.