All Forum Posts by: Quinton Oake

I have used loans from institutions, made loans from institutions and worked for institutions. But I have always felt better with my relationship directly to a lender. I also feel better about knowing the money I pay out is going to someone and not a corporation. Simply personal opinion. I do realize I will have to use institutional money at times but it's not going to stop me from trying to help out another human being.

Hello, I am looking for a private lender that is willing to take on long term loans. I am covered as far as my fix and flips/construction right now but they aren't willing to take on longer term loans currently. If you have an appetite for 30 year type loans and willing to accept rates at 7% currently. Please reach out. I would also be willing to have a contract that would pay pre-payment penalties for 10 percent for years 1-5 and then 5 percent for years 6-10. I am a broker but would prefer to pay a person rather than a corporation on my personal investing. 

If you want, reach out and I can let you know if you/it qualifies for a hard money or a fix and flip loan. I am local and would like to see if I can help.

Do you want to be a landlord?
Do you want to be an investor? 
Do you have a plan if you take the cash?

reach out to me and I will give you a DM for her LaShawn's email contact. She is off of Falkenberg and US 60. https://ptflorida.com/

How deep down the hole do you want to go?

What is the current zoning and is there a need for that or will the builder need to get it rezoned? 

If the current zoning does not conform to what is the highest and best use, you can make more money if you do the work of getting it ready for the builder but that is a long process that if you have the time would be an awesome learning experience. 

You could partner with a builder and learn that process.

You could ask a local realtor to pull some comps for you and then just sell at those prices.

You could advertise it as Florida land to the rest of the country. Especially NY and OH areas.

You could donate it and reduce your taxes.

The sky is the limit. I am wishing you well in whatever you do. 

I reached out on a DM. Looking forward to connecting and best of luck to you!!!

Why sell? Refi or HELOC. Then use those funds to purchase another/more properties. Unless the current asset has no future of bringing in money, not sure why you would want to be rid of it. The only reason I could think of is similar to what @John Underwood said regarding COC. But, save that for a rainy day when you are a seasoned investor. I made the mistake of selling assets but then got in trouble other ways and wish every day I would have kept them.

 Reach out and I can get you a one-page synopsis you can use to send me the particulars on the project. I can build you a Term Sheet with some information and you can compare to others.

Would love to look at this more. Please send me your email and I will send you a synopsis that will allow me to get you a go or no go by next day. I can then build out a term sheet to you the day after. 
Side note, if you haven't already done the purchase, I would try to get it lower and emphasize that you are a cash buyer that can close in 14 days etc.