All Forum Posts by: Pouyan Broukhim

The best way to check out anyone is to check for the department license number, in California its their BRE number.  In this case it seems like they are looking to do a consumer loan for you (tax returns) because of this item that they need they must have a NMLS number.  Make sure whomever you do business has proper licensing otherwise you most likely are working with someone that isn't licensed to fund your loan and is most likely doing something not kosher.   

Good luck

with the rates being where they are now (high 2s to mid 3s) if you are able to qualify for conventional financing then that would be your route.  Because the cheapest cost of borrowers.  In buying any property, you cost basis is the main factor and the lower your financing cost the lower the overall price of the project.  

If you are getting an amazing opportunity and in the cost of the opportunity there is room for private financing and you need to close quickly then Hard Money/Private Money is a great solution  and there are companies like mine that offer cross collaterized loans or quick cash out loans to purchase other opportunities. 

Thank you and good luck with your investing

Please explain what you mean by incorporation.  Regarding referrals you should look under the marketplace and a drop down box follows.  Just click on hard money and you will get plenty of options. 

Good luck 

scotsmanguide.com is a great resource. 

another way is to go to the county records office and pull the NOD or NOS and from there you will be able to get the trustee's information. The trustee is direct to the foreclosing entity and ask them for their seller's information. Once you have the seller's information you can reach out to them and ask them if they are willing to sell the note and they are interested in selling the note you are in business. Just an FYI this strategy rarely works but its worth a try, just note that hard work pays off, so don't give up.

Good luck

you should look them up on yelp, BBB, with the local department of real estate or nmls and see if they have any violations against them or if they have negative reviews.  If they don't have anything negative associated with them and they have been in the business for a very long time then you shouldn't have any concerns but if they have negative reviews or comments I would rethink about giving anyone upfront money. 

Good luck

your financing cost with a conventional loan would be significantly lower and should be a no brainer

Good luck 

if you are able to get a conventional loan after your rehab that gives you your initial capital (down payment and rehab) and you would be positive cash flow then this sounds like a great buy and hold. In addition you would have equity in case you decide to sell in the future

Good luck 

these are low loan amounts and if you have a good income and good credit you should be able to qualify with a local credit union.  

Good luck

your lender should be giving you a 1098 and make sure you give your accountant the closing statements from when you purchased the property.  This way he can give you credit for all the fees you incurred. 

Good luck