All Forum Posts by: Patrick Sanders

@Mark Gliebeundefined Yes u also tried a heloc would be simple and my bank approved the funds on paper at first but then came back and denied me due to me having the property in my entity llc name and guidelines for the heloc with them state you must own the property for a year or more in your personal name not business llc so i thought that was gonna be my shot until they told me that.

Own a property free and clear 5 miles from downtown Nashville have done some major renovations so far still some to go but I lack 30k from getting it finished. I wanted to keep as rental property but I bought it in.my LLC name so can you get a heloc if a property is a investment property and not your primary and what kind of finance or lender type situation would be easiest for me to get my ball back rolling my credit is 740 house arv is 300k and is free and clear but still in as is state for now probably value at 225-250k only lack 30k to finish rehab but cant seem to be able to cash out refi places keep telling me it has to be finished product which I'm lacking 30k from being able to go forward crossing the finish line..what should I do? I need help

Purchaser house on 1/2 acre lot 5 miles from downtown Nashville 115k needed roughly 60k -70k in rehab I purchased and done 30k of rehab out of my own pocket to the point my cash is almost dry but the final arv is 300k having trouble w financing so I can finish lacking 30-35k from finishing everything and run into so many lenders and mortgage ppl saying I qualify and the deal is easy no brainer but always ends up something to cause a denial. Let a mortgage guy convince me lending would be no issue since my credit was 740 I'd done 4 flips previously I had a great deal with alot of equity etc he said purchase cash and refi soon after well he basically became a stranger and mislead me so I began rehabbing slowly over next few months doing as much i could well long story short I've gotten it to the cosmetic stage basically and funds are running low but I would think 740 credit 4 or more previous experience fix and flips (and this particular property is going to be 1st rental) it's free and clear as is worth 225-250k now and will be 300k+ when finished but I lack 30k to finish and cant seem to get financing I really need some help getting this resolved where I can go forward what do i need to do???

Hey Brea Im always looking to help and partner with people new getting in the game I also invest in Nashville feel free to inbox me your contact and ask me any questions you have

If you're wholesaling in Nashville feel free to add me to the list as well I buy and flip and have done 3 successful flips and  I am looking for more at this time!

Ive hope this isnt a stupid question but i will ask anyway lol I have two SFR flips lined up to close in August 2016 and I have a crew that does the rehab but i was wondering how to go about finding a person who can create floor plan layouts and interior design i dont know if all or any interior designers are also experienced in creating floor plan layouts but that is a person i need on my team and I do not know where to go to find this person who can help me out because both of the houses need new design and floor plan layouts and i could give a good effort in creating my own but i rather it to be done by a person who can bring professional quality and creativity to the table these arent million dollar homes so im not looking to break the bank and make this some big budget thing its very simple but at the same time they arent in the hood they are middle class neighborhoods with homes about 2000 sq ft a piece any ideas as where to find a qualified person for this type of work and what is the title of that job

No not really everybody's situation is different for the reason they are selling and I've found a few off market deals paid in cash way under fmv and knocked em out the park laughing all the way to the bank cashing nice checks

You guys who are wholesalers can feel free to add me to your emailing list I have realtors who give me MLS property list so I'm looking for stuff OFF the market or mls. Deal directly with the owner so there is room for everybody to eat. When people find something everybody wants a piece if its known to the public so I still send out letters like a wholesaler too but I don't wholesale I buy and flip. @REGGIE BURNETT I'd say since you say you're experienced in renovations why don't you partner up with somebody on these deals and help them with renovation and pp...make a reputation among a few new investors that you make the process of flipping easier ...just a suggestion

yes I'd say that's a good idea as long as they can present something where the numbers make sense

I've always wondered how auction.Com works. Did you win one of those bids on a property?