All Forum Posts by: Riley Hinshaw

Has anyone worked with keyglee to wholesale a deal? I get a lot of deals under contract and I’ve been told by other investors that I can partner with keyglee to help with dispo. I’m wondering what that process looks like and how to go about that.  TIA 

I know this is kind of a shot in the dark, but I would love to hear from experienced investors who've worked with private money lenders. Without going too much into detail, I am contracted with Fannie Mae and I go to all of their vacant foreclosures when they first become vacant and begin the process of bringing it up to date and full market value. I do everything from day one when it comes to turning their gross outdated foreclosures into practically brand new homes. I do a full report and inspect everything in the home to determine what they need to do to the property. I then send it over to them with a full list of everything that needs to be updated and the amount of materials needed. They then send in their contractors to complete the rehab and update/ repair everything I requested. I then follow along the whole process to make sure all the work is getting completed on time and On budget. I then report to them when the project is complete and they immediately list the property on the market. I've been doing this for 3 years and have been in real Estate for 5 years, including my wholesaling experience. So what I'm getting at... is if I were to bring the experience I have and ability to find great off market profitable deals to a lender, would there be people out there willing to work with me by funding the deal, while I find the deals and manage the project during the process? Do I bring enough to the table to get someone to fund a flip for 50% split or even more ?(I'd even take 25% happily). This would be perfect for me, because I know I can find great deals worth their time and money and I'm experienced with managing flips and making sure jobs are completed on time and within budget. Would love to hear anyone's opinion/ advice on this. Would anyone be willing to work with me ? How could I find someone willing to structure a deal like this ?

thanks!

I know this is kind of a shot in the dark, but I would love to hear from experienced investors who've worked with private money lenders. Without going too much into detail, I am contracted with Fannie Mae and I go to all of their vacant foreclosures when they first become vacant and begin the process of bringing it up to date and full market value. I do everything from day one when it comes to turning their gross outdated foreclosures into practically brand new homes. I do a full report and inspect everything in the home to determine what they need to do to the property. I then send it over to them with a full list of everything that needs to be updated and the amount of materials needed. They then send in their contractors to complete the rehab and update/ repair everything I requested. I then follow along the whole process to make sure all the work is getting completed on time and On budget. I then report to them when the project is complete and they immediately list the property on the market. I've been doing this for 3 years and have been in real Estate for 5 years, including my wholesaling experience. So what I'm getting at... is if I were to bring the experience I have and ability to find great off market profitable deals to a lender, would there be people out there willing to work with me by funding the deal, while I find the deals and manage the project during the process? Do I bring enough to the table to get someone to fund a flip for 50% split or even more ?(I'd even take 25% happily). This would be perfect for me, because I know I can find great deals worth their time and money and I'm experienced with managing flips and making sure jobs are completed on time and within budget. Would love to hear anyone's opinion/ advice on this. Would anyone be willing to work with me ? How could I find someone willing to structure a deal like this ?

thanks!

I know this is kind of a shot in the dark, but I would love to hear from experienced investors who’ve worked with private money lenders. Without going too much into detail, I am contracted with Fannie Mae and I go to all of their vacant foreclosures when they first become vacant and begin the process of bringing it up to date and full market value. I do everything from day one when it comes to turning their gross outdated foreclosures into practically brand new homes. I do a full report and inspect everything in the home to determine what they need to do to the property. I then send it over to them with a full list of everything that needs to be updated and the amount of materials needed. They then send in their contractors to complete the rehab and update/ repair everything I requested. I then follow along the whole process to make sure all the work is getting completed on time and On budget. I then report to them when the project is complete and they immediately list the property on the market. I’ve been doing this for 3 years and have been in real Estate for 5 years, including my wholesaling experience. So what I’m getting at... is if I were to bring the experience I have and ability to find great off market profitable deals to a lender, would there be people out there willing to work with me by funding the deal, while I find the deals and manage the project during the process?  Do I bring enough to the table to get someone to fund a flip for 50% split or even more ?(I’d even take 25% happily). This would be perfect for me, because I know I can find great deals worth their time and money and I’m experienced with managing flips and making sure jobs are completed on time and within budget. Would love to hear anyone’s opinion/ advice on this. Would anyone be willing to work with me ? How could I find someone willing to structure a deal like this ?

thanks!

I’m wondering if anyone could offer advice on how to get a private lender to cover the down payment/ closing costs of a hard money loan. If I brought a great deal to the table and had a hard money loan lined up, how would I convince a private lender to cover the down payment etc for a percentage of profit ? Would hard money lenders Be willing to work with a private lender for the down payment? Will both of the lenders want their name on the deed ? 

Any help is greatly appreciated. I am currently trying to structure a deal like this!

 How did you approach the private lender and convince them to cover the down payment on the hard money? I find incredible deals all the time and can put together an investment proposal for lenders but is that enough to convince a private lender to cover down payment? 

How do you find a lender willing to do a deal like this?  

Are there really private lenders out there who put up 100% of the money for a deal and only charge interest? Or lenders who will cover down payments? I see multiple mentors preaching this strategy, obviously I don’t trust mentors but I know of a local investor who does this as well and I just don’t understand how they achieve that. I have experience and could run the whole project myself including finding great deals , if that would help a lender be willing to fund the whole deal. but does anyone have experience doing this? Or know how to go about structuring a deal like that? Even if it means giving up a lot of profit to the lender 

 Sorry, forgot to add these details. The property I want to refinance is my home in which I live, not an investment. I want to tap into the equity in my home since I have no plans for it, I won’t be selling any time soon. So I wanted to use that to help get a separate investment property. Thanks for the reply!

I would like some advice on this, and would like to know if this is a good idea or not. My property is currently worth about $445k. I owe $80k on it after doing cash out refinance few years back to update the house with floors etc. The current interest rate is at 4.5%. So I want to refinance to take advantage of the low rates right now and save a lot on interest. Since I have a lot of equity in the home, I figured now would be a good time to also get all of the equity I can since my house is worth more than it ever has been and at its peak in value. So my question is, would it be a good idea to to use money from a cash out refinance to cover the costs of a hard money loan to purchase a fix and flip investment? I have a hard money lender who accepts 10-15% down depending on the deal. With the cash out refinance I could easily afford the down payment and fees for the loan to cover the cost of a decent flip property, so would it be wise to take advantage of this opportunity?

any advice would be greatly appreciated!