All Forum Posts by: Steven Lee

Shelby,

I'm sorry to hear you're experiencing the stress level. It is difficult to find a legitimate contractor. Especially in Texas. Contractors do not have to be licensed. I would not recommend giving anyone equity shares, nor refinance the loan if you're almost complete with your project. The best thing to do is get a personal loan even though the interest maybe high and finish the project. Also, contact as many real estate agents to pre market the property so you can have a buyer lined up. Hope you finish your project. Wishing you the best! 

Are you a Homeowner or Want to Purchase your Dream Home?

Refinance, and lower your Mortgage payment or get Pre Approved with RCD Capital to purchase your Dream Home Today!

Refer your family, friends, or associates and get up to $500 referral fee!

• $0 Cost Loan (Option)

• $0 Appraisal (Option)

• Interest rate as low as 1.75% for a 15 Year Fixed or 2.625%

for a 30 Year Fixed

• Consolidate Debt

• Home Improvements

• Lower Monthly Payments

• Purchase Another Home

• Remove Mortgage Premium Insurance

Mia Kim

Office- 800.369.7009 Ex 132

Mobile- 818. 696.6481

[email protected]

Senior Loan Officer

NMLS 374487

California Finance Lender 60DBO-76030

NMLS 1722515

What makes RCD Capital different from other Hard Money Lenders? Contact us today for more information!

1. RCD Capital is not only a lender. Our Loan Officers invest in Real Estate from Fix & Flip, Buy & Holds, and more!

2. Our company will only work with clients who are honest, who have integrity, who have principles, and people who are trust worthy.

3. If one of our Loan Officers review your potential deal and it does not make any financial sense. We will advise you to walk away from the deal. Our company pride ourselves to helping our clients achieve their goals.

RCD Capital - Loans for Fix & Flips, New Construction, Lines of Credit, Portfolio Loans, & Rental Property Financing, Storage Facilities, 30 Yr. Mortgages, and Refi Cash Out. Free Approval Letters for your Offers!• 80-90% of Purchase • 110% of Rehab/Construction• Low Rates • Easy and Simple Loan Application with Minimum Documents • Rental Property Financing• No Seasoning of Funds Required• No Income Verification• Loans up to $50,000,000 • Bridge Financing • Foreign National Financing Available• Multifamily Hard Money Lending•Residential or Commercial Hard Money Lending• Fix and Flips or New Construction • Non Qualified Mortgage • Portfolio Loan • 30 Year Fixed Rate MortgageWe lend throughout the United States Funding in 7-10 Business Days.

Are you a Homeowner or Want to Purchase your Dream Home?

Refinance, and lower your Mortgage payment or get Pre Approved with RCD Capital to purchase your Dream Home Today! 

• $0 Cost Loan (Optional) 

• $0 Appraisal (Reimbursed at closing Optional)

• Interest rate as low as 1.75% on a 15 Year Fixed or 2.375% on a 30 Year Fixed

• Consolidate Debt

• Home Improvements

Mia Kim

Office- 800.369.7009 Ex 132

Mobile- 818. 696.6481

[email protected]

California Finance Lender 60DBO-76030

NMLS 1722515

Are you a Homeowner or Want to Purchase your Dream Home? Refinance, and lower your Mortgage payment or get Pre Approved with RCD Capital to purchase your Dream Home Today! • Interest rate as low as 2.625%. 30 Years Fixed • Consolidate Debt• Home Improvements 

Mia Kim

Office- 800.369.7009 Ex 132

Mobile- 818. 696.6481

[email protected]

California Finance Lender 60DBO-76030

NMLS 1722515

Investment Info:

Single-family residence buy & hold investment in Springdale.

Purchase price: $1,500
Cash invested: $1,800
Sale price: $20,000

I Initially purchased this property to rehab, and hold as a rental property but decided to just sell the property to another Investor for a profit.

What made you interested in investing in this type of deal?

I was interested because of the yield. 

Are you a Homeowner or Want to Purchase your Dream Home?

Refinance, and lower your Mortgage payment or get Pre Approved with RCD Capital to purchase your Dream Home Today! 

• $0 Cost Loan

• $0 Appraisal (Reimbursed at closing)

• Interest rate as low as 2.375%. 30 Years Fixed

• Consolidate Debt

• Home Improvements

Mia KimOffice- 800.369.7009 Ex 132

Mobile-818. 696.6481

[email protected]

California Finance Lender 60DBO-76030

NMLS 1722515

Monday to Friday 8:30 am to 6:00 pm. PST, CST, & EST

Saturday, and Sunday 9:00 am to 2:00 pm. PST, CST, & EST

What New Real Estate Investors need to know when making an offer or applying for a Hard Money Loan! 

Contact RCD Capital at 800.369.7009 or email us at [email protected] for more information and tips on closing your first deal!

1. Do you have a Corporation or an LLC?

2. Do you have funds from your retirement account, checking account or a GAP funder?

3. Do you have a Real Estate Agent?

4. Do you have a reliable General Contractor?

5. Do you know how to write the offer the correct way not to jeopardize your Earnest Money Deposit?

6. Did you know when making a Cash offer is a breach of contract when you're getting financing?

7. Do you know how to analyze a profitable or unprofitable deal?

8. Do you have an Exit strategy?

Kyle,

Question; Is the property currently vested in your personal name? Normally we will have escrow deed the property under the LLC without issues.

Darshil,

No lender is going to finance you during these pandemic times at 90% of acquisition, and renovation considering you do not have any experience. I've been in this industry for the past 20 years as a lender, and Investor. You should really be careful you're not getting scammed. If you have any questions please feel free to message me.