All Forum Posts by: Robert Bell

Here is the correct link:

https://youtu.be/WjLR0fzOD-0?si=rKWrREKpqxj0vhRt

Jim Cramer suggests that Memphis RE is heating up in comparison to Nashville. Nice to get mentioned!

https://www.firsthorizon.com/Landing/Virtual-Events/Bryan-Jo...

We've had good experiences with first citizens, bank Tennessee, and bank Bartlett. First horizon is a bigger regional bank but they are good as well.

I am a Loan Officer with Avalon Capital. We are located in Memphis. We make fix and flip loans.

https://avaloncapitalmemphis.com/

Check us out!

Adam, great points!

Many times having great credit is not enough to secure a deal with a traditional lender quickly enough when one is competing with cash buyers. Private and HML can move very quickly and loan on distressed properties.

Also, for BRRRR investors, you should know for certain all the qualifications for your refinance.

I have seen many borrowers with short term, private loans have to carry the loan months longer than they were expecting to because they did not know all the ins and outs of the DSCR refi process.

Asset based, aka Hard Money Lenders, make the loans the banks cannot make.

Very short terms. Higher rates.

But what do you get in return.:

Quick access to capital. If you are competing with cash buyers and a great deal comes your way, it may be worth it to borrower at these higher rates.

We ask to see reserve funds.  We don't use them as collateral, but we like knowing that if something unexpected comes up, our borrower can handle it.  We like to see at least 10% of the loan amount in a checking or savings account.