All Forum Posts by: Rick Zink

Looking for a 90% HML that lends in Arkansas...please advise.

I'm open to almost anything.

I've found a great opportunity for a flip. Still ironing out details but preliminary return looks like it's going to come in the the low 30's profit. I'm stretched on other investments at the time but don't want to pass this up. Not crazy about Hard money lenders either. I can swing the rehab costs. Looking to be around 20k. Any thoughts?

That's a great idea!!!  I never would have thought about incentives to stay to be able to tack on a couple hundred bucks to rent.  They have been asking about a new stove and possibly installing a security system.

Im happy to do that if they are willing to sign an extension.

thanks for the great advice.

I have never had a renter in one of my rentals long enough to raise the rate on them.  One of my houses I am charging well below market value I have recently learned.  The current renter is dependable...pays on time, takes care of the place, etc.

I would like to increase the rent but at the same time do not want to lose the renter as you never know who is coming next.  I do my due diligence prior but I am sure anyone with experience can tell you that you can only go so far and nothing is guaranteed.

Can someone maybe give me some pointers on approach/methods of raising the rent? 

I understand the difference between the both of them.

While I am not the most experienced in the world, I do have some experience.  I own a few rentals that are cash flowing.  I have flipped a few and made a moderate profit.  To date, I have never lost money in Real Estate.  I attribute this to the dogged due diligence that I take before I close.  All of my previous properties I have either used a Bank mortgage or I have simply bank rolled myself.

Currently, I am in a position that I have an opportunity to purchase and flip two possibly three houses.  The time on Market is a little longer than what I  would like to see but the profit is solidly there...but I digress.

My reason for this post is that I am having a little bit of a hard time finding a Hard Money lender as well as a GAP lender.  Most I have found want me to buy into a program that I am happy to do but they can't seem to give me a clear understanding of what I am going to learn.

Can someone please point me in a direction that I can find helpful lenders that can assist me in acquiring these properties?  I do not want to let these slide by as I am looking at a handsome profit on each one.

Any help or advice is welcomed and appreciated.