All Forum Posts by: Matthew Whitermore

All I mean is to have a strong business plan when selling the property. See how long houses are sitting on the market in the area and tailor your plan accordingly. Flipping houses is all about speed. Be sure to price your house to sell, don't get too greedy and get stuck with a house that won't sell. That is when a HML will kill your profits.

Yes, I would go with a lender as long as you have a good exit strategy to get out of that loan. As long as you have good real estate fundamentals, a hard money lender is a good choice. If you are buying a house in a market that will make it hard to resell, the issue is the market you are investing in, not the hard money lender.

Isaac,

I agree with Anthony. Another reason to consider option 3 is that commercial loans typically don't show up on your credit report. Also, if you have a good business plan that you can execute quickly, you will be able to refinance that debt within a very reasonable amount of time - just stay away from lenders with prepayment penalties. Furthermore, a lot of private lenders offer interest-only options so you can keep your cash flow up. Good luck.

Shaun,

I appreciate it. BP seems like one of the only honest networking and knowledge platforms for real estate out there.

How do you "mention" someone in a post with the link to their name/profile?

Awesome, thanks for the welcome @Cai W. What type of investments are you looking at?

John,

Private lenders will usually give you higher leverage options, but they will charge you for it with a higher interest rate. I would advise you to go with a private lender if you need higher leverage than a conventional lender would provide. Once your property is stabilized, you should be able to get favorable terms and rates from a conventional lender. Just watch out for prepayment penalties from the private lender.

Hello Everyone,

My name is Matt Whitermore and I am a young professional from the suburbs of Boston. I currently live in Brookline, MA which is a town just outside of Boston. My real estate experience began in college as a rental agent in Boston. After a few years of rentals I took a job as an acquisitions analyst for a local development company that owns 500 units in Greater Boston. This is where I learned most of what I know about real estate investments. Recently, I moved on to UC Funding, which is a commercial real estate lender in Boston that lends nationwide. I am a Loan Originator at UC Funding, and I am learning a great deal about commercial real estate and private lending. I hope to connect with like-minded individuals, while sharing my experiences and learning from the experiences of others. Glad to be a part of biggerpockets!

Thanks,

Matt