All Forum Posts by: Nick Trahan

no arguments from me on that.

i rented a harley out there once. i was dripping sweat and then it started raining. :pissed:

i have never been into cars, always motorcycles. so now i have a few, and living in s.f., i dont want a car.

2007 yamaha R6
2007 yamaha FZ6
2006 CBR600RR
:D

Have you ever taken on a project of this type successfully?

Do you have any cash invested in the project to date?

Can you show any assets that would make an investor feel comfortable lending to you?

Would you be willing to pay any due diligence fees for site visits prior to funding?

If yes, then you shouldn't have a problem finding someone to invest in your project. i have people who do these developments fairly often. some of them don't require any due diligence, but it is nice to have a flexible client.

however, i just joined this site today and don't want to seem like i am spamming, but i am sure you will find an investor. don't give up hope!

I am not exactly sure where you are getting that information from. most of the hard money lenders i have worked with actually prefer O/O properties.

The problem i could see you coming across with is the 75% ltv. almost everyone out there is limiting to 65% and there are a select few limiting to 70% ltv.

good luck!

San Francisco, CA

born and raised!

As far as how i got to where i am today. A strange string of events brought me to where i am is the best way i could describe it.

I started my career in motorcycles of all things doing sales. i did it for a few years and became a finance manager and found out that i really enjoyed working in finance. i never would have thought i would have a knack for numbers when i was growing up but it turned out that was the right thing for me.

After doing motorcycle finance for a while they offered me a promotion to sales manager and i decided at that point that i wanted to stay in finance. i pretty much hit a wall as far as my career advancement in that industry if i wanted to keep doing finance so i switched to residential loans.

i went from one mortgage chop shop to another trying to find a place that i was comfortable. i enjoyed what i was doing, but the companies that i was finding were always looking to rip people off to make big bucks and i hated that. finally i found a small company that was more oriented to customer service and repeat business instead of sect. 32ing everyone. so i stayed with this company.

i financed a few homes for a few developers and they liked how i conducted business and asked if i could find a way to finance their developments. i figured it couldnt hurt to see if i could do it. i quickly found out not only could i do it, but i enjoyed working with corporations and principals better then residential borrowers. now i dont think i can go back!

if you would like, you can call me nick.

what do i want to learn? well.... at this point i am not exactly sure. i am very comfortable with what i am doing now. but i am always interested in learning new things in the industry and expanding my "tool box" of knowledge. but nothing in particular strikes me as "i need to know right now".

thanks for the welcome!

I just found this site and thought it might be a good tool for me to use.

a little about myself and what i have been doing -

i work for a fantastic small company and have been here for a few years. we used to just do residential loans but my eyes and the owners eyes were always looking at bigger and better things.

well we started doing international project funding for construction projects such as hotels, casinos, and condo developments (and of course the raw land projects in costa rica everyone seems to love).

a few months ago my boss got rid of our residential side and now it is just the two of us. i have kept up on the international project side and he has switched off to REO lists. it looks like i will be taking over that aspect soon since he has moved on to MTN's. but i still like doing these projects so im going to try to keep doing these.

i guess i am here because with the exception of my boss, i have NOBODY to talk to about any of this. i dont know anyone outside of my work that even understands anything about what i am doing (my wife and most of our friends are artists. they dont want to hear about some high-rise in dubai that is being built....)

i figure i should be on this site anyway, you already have my picture ---> :zzz:

hope that wasnt to big an introduction for everyone.