All Forum Posts by: Charlie Fitzgerald

Hi Arun,

Send me an email with the details of the transaction.  Love to see if we can do it with you.

You also have to make sure that your lender will approve the loan with you borrowing the down paynent...it's not likely.  

Hi Rochelle,

Both!  I've been in lending in Las Vegas (and other states) for 16 years,and i have had multiple investment properties in Las Vegas as well.  It's been quite a ride!  I enjoy it very much.

I'm in Las Vegas and have been active in Real Estate here for 22 years.  If I can help...let me know.

I have an entirely different take on this and it's not because I am a Private Money Lender.  I do not ever believe that in the grand scheme of things the advantages of using all my money (meaning no financing..not all assets) gives me so much additional advantage in the market, that the risk ratio makes it worth it.  Additionally, with the current trend towards more and more restrictive conventional lending guidelines in the post Dodd-Frank environment, I never want to rely on a conventional loan program for my cash exit strategy, to allow me to turn my money again by acquiring additional investment properties.  I like transaction speed, asset based qualifying, unlimited financing capacity and product/program dependability and most importantly, leverage (20-30% of my money in the deal vs. 100% of my money in the deal.  I am more than willing to pay the higher interest rate and 1-1.5 additional origination points for Private Money, in return for all the advantages outlined AND interest only payments while I have the money in play.  I can do a minimum of 3-4 times more deals a year using Private Money Lending with few if any headaches.  Conventional lending is very restrictive now. After October 3, 2015, it will be even more so.  Just my $0.02 worth.

As you have found, conventional lending in the post Dodd-Frank regulations world is tighter than tight.  

Private Money Lenders can serve as a  valuable resource for borrowers such as yourself.  I'd love to discuss this with you at your convenience.  Shoot me an email and let me know when we can speak.

I'd be happy to assist with acquisition and/or rehab funding on one or both of these for any buyers you source that could benefit from a great Private Money Lender.

Let me know if I can be of assistance.

My pleasure.

Project Scope and Budget...from the GC

If market rents are only 1300, why are you thinking you can get 1800-2000?  Why would someone pay an option fee of 15-20k for a house they can buy today for 1/2 that amount down?  I think your plan has some problems.