All Forum Posts by: Nicholas Groover

Has anyone dealt with the company do hard money? I’ve been talking with them but they want a upfront fee of $3,500 but I get refunded $2,250 when the deal is done and after that no more fees just appraisal fee.

6.5% flats fee

1.5% monthly fee

5 month term

100% financing up to 70% of the ARV

Hello everyone,

I have a good lead on a mobile home with the land, the landlord is wanting to get rid of now and is willing to sell at a cheap discount because there is a tenant in the home that he has apparently filed a 30 day for. Can anyone give me the rundown on Alabama tenant laws? I know I’m going to have to speak to a lawyer but was hoping I could get some advice. Thanks!

@Caleb Jordan thanks for the info Caleb, yeah the three grand was a little intimidating but I count it as their point system. Tell me if I'm wrong but normally HML want you to pay points up front correct? Isn't that the same thing?

@Mark Leclair yes I haven’t done a deal yet but to my knowledge it is very short term, but long enough to fix, rehab and sell if done properly. You always want to have more then one exit also so if you can not sell in that amount of time may look at trying to refi out and rent the property. Always have multiple exits

@Melba Chambers yes they wanted a 3k up front charge that they give back on the sell of the home. Seemed too good to be true though. I'll stay local!

@Will Barnard that's what I was thinking, plus I'm partnering with my already skeptical father.

@Douglas Vogel Thanks for the info, I will check them out. I ended up asking a known investor near me and he gave me a contact which I thought was awesome.

Hello BP,

I have found a deal that I want to try and flip, this will be my first one so I'm nervous about the lending. I called a HML called do hard money, they have a website up and have testimonials but just wanted to check on here to see if anyone has any experience with them?

Location: Birmingham, AL

Hello everyone,

On making my first driving for dollars list I have 2 questions, how many houses should I get before I start mailing also on the tax records where the house owner has no different address, do I mail to that address or just try and find their number?

@Patrick Menefee Awesome, thanks for the advice! I'm going to try and start tracking my spending with mint.