All Forum Posts by: Charlie Fitzgerald

What State is the property in? If you want to get your cash out with another hard money loan on a 1, 2 or 4 year term, I can help potentially depending on where your property is. If it's fully rented and cash flowing with a current HML, you'll be in better shape, with some breathing room and your cash back to do some more investing. Let me know. My site is below and shows my rates (interest only), terms, and fees. All are very reasonable, and I can fund in 4-7 days from receipt of your package.

Adam, 

Let's talk about it...if your going to be in that space on a consistent basis then I'm willing to see what I can do to assist you and others in the small deal arena.

Shoot me a PM with your contact info.

Hi Brent,

See my prograns on my site.  Love to help with this.  We're blazing fast and control the entire process internally.  Great rates, low fees, interest only payments.  Give me a shot.  You won't be disappointed. 

I think looking at the overall return for my invested dollars over the period of time I intend to hold is a better approach (for me) than focusing on just one area (cash flow).  I've bought properties that had less cash flow than I would have liked because the appreciation over the hold period I had in mind made up for it.  Will, yes, I would.  Because that rent would cover my cost of acquisition and nearly all of my annual costs and at 5% a year appreciation is giving me another 1625 a month in additional equity growth...as well as depreciation, as well as expanded portfolio.

So it's really what makes the most sense at the time for the investor relative to their strategy and goals.

Good post!

As Bill S. advises, yiu can take this proprty with a HML and refinance it later. I can do the HML if you get to that point. Let me know if you need me.

I've been in Las Vegas 22 years and I have a bias, admittedly.  I also believe the devil you know is better than the one you have not met yet.  I'd stick with Vegas.  It's proven itself over and over as a great market for long term ownership in all categories.

 The issue is not FNMA guidelines, it is investor/lender overlays.  Setting that aside, giving succinct advice relative to not falsifying a loan application to a person seeking help, is in my opinion, the best "help" one can give here on BP.   Creative financing, does not in my opinion, mean distorting facts, or leaving pertinent and required to disclose information off of a 1003.  In terms of the hypothetical sources for gift funds/friend loans you ask about, it does not appear that this applies to Brian's situation.  In my 25 years of banking and Finance experience "gift funds" are rarely that, and this is especially true with regard to acquisition of investment properties.

I'm sorry you felt that my comments were "shutting down communication." They were intended to shutdown advice to someone looking for help to commit federal and state mortgage fraud only.

Respectfully,

Brian,

I am a Private Money Lender and with that disclosure out of the way. I can tell you that of all the options, a HML to acquire tge property makes more sense. I'd be happy to assist of yiu go in that direction. We've got great programs, rates, fees and,we're blazing fast as we control the entire lending process internally from origination to funding and close. 4-7 days is average for us onc we receive your package from you. You can visit my site below for more information. Reach out if l can help.

If you source a buyer that needs some cash for acquisition and rehab, let me know.  I can help with that. 

Loans from any source that have a payment required of more than 10 months (generally) ARE calculated against DTI. Not disclosing them on the 1003 simply because they dont report on the credit report is mortgage fraud.