All Forum Posts by: Paolo Ruggieri

All - 

while being a seasoned real estate investor (I have 30+ properties) and a hard money lender, I never considered land before. I recently purchased two boats for my own leasure and realized how difficult/expensive is to store them and how cheap a lot with a run down old home on a busy street is within 5 mins driving from the lake (expecially with issues of fire damage, asbestos etc) . Does anyone have any experience renting pieces of a land/yard to other boat owners? I am just curiuos. I imagine I can do it only on small scale (20 boats at most) before county complains of me having to zone commercial... any thoughts or experiences?

The idea is to buy a destroyed house in a non desirable location (in fronf of a busy road) to rent pieces of yard if property is flat - and designed correctly.... or just the lot (very rare)

I have the exact same in 2 properties. Secion 8 pays me a flat fee (they have a specific table depenent on # of vouchers). Any overage in theory is mine, however :

1. I have no issue of tenant not paying water bill (I pay it)

2. you can process a lease violation if the are excessive

the safest though is indeed to split meters... when I looked into it it was 5k + a lot of headaches with city of atlanta. I personally did not do it... but am not 100% sure it is the right choice

it's good - but not very specific for portfolio of fix and flips...

anyone else?

I am a small private hard money lender (have $2m). I have been tracking loans quite manually so far in google sheets , but have now reached a size where I need a loan software. Any recommandations on which software to use?

I have 2 repeat borrowers that have a potfolio loan with 3-4 revolving fix & flip properties tie to it.

I am expanding to a 3rd borower now...

Thank you for your advice on which software I should use to run credit, put in appraisales, receive a track payments and load closing documents.

anyone?

5 years in business 

Annual turnover 

Cash lended and returned 15m out of which 1.5m interest (revenue is 1.5m)

Looking for a business line of credit for a successful hard money lending business: looking to go from 100% equity to 90% equity and 10% debt.

Looking for a business line of credit for a successful hard money lending business: looking to go from 100% equity to 90% equity and 10% debt.

I am trying to help out a friend of mine finding a loan for his business (and myself).

This is his situation:

He is a hard money lender. Specifically, he is a General Partner in a LP company with $11m of pure equity from his extended family:

• - 5 years of successful financials of lending (ROE ~12%)
• - 100% equity - no debt
• - perfect credit, good net worth and good income (from the company)... willing to give personal guarantee

His goal is to increase flexibility and cash efficacy in his hard money lending business through ~$1m line of credit (very low leverage compared to $11m equity).

Does any one know how to find a lender that would finance a successful hard money lending business? I tried helping him, but all financial institutions I talk with do not want mortgage notes as collateral... they want either actual real estate or receivables.

I also have a (small) hard money lending operation of $1m and am interested in growing it... so I am tying to help my friend to also potentially piggy back in the future on whatever he does (ideally developing a relationship with the same lender).

Does anyone know a lender that would lend to a successful hard money lending business wanting to leverage?

thank you!

@Jay Hinrichs

Which bank lends you $4m against $1m down for hard money?

Do you have a referral?