All Forum Posts by: Sarah Hood

WOW! Thanks Everybody! I did not realize the rapid action and supportive group here! When I wrote that post yesterday I thought it might just be a howl into the abyss, but Bigger Pockets comes through! Thanks to the advice here I hit up a partner, and made connections to a bunch of hard money folks and feel very encouraged! The closing should happen as planned. I am really glad I asked because there was a lot of advice here I would not have thought of, especially in my panicked state where I could not even remember what I learned from the Podcasts. That bout of imposter syndrome conquered- my kids pointed out that I am literally investing in real- estate, so I guess I am a Real real estate investor now! 

Thank you!

Ok- I tried the ones listed here on bigger pockets Hard Money lenders in the network portion- any other thoughts would be appreciated

Because yes the 125 is liquid in a savings account

I'm sorry to be so dumb, but where do I look for hard money loans?

I made a cash offer on a duplex in another state ( Grand Rapids, MI), it's an off market deal and I had to act fast. I misjudged how long it would take to get through my re-finance on my house, and my loan officer said I would not have the money in time.  I had started the process before making the offer and only moved forward when she said she had found an underwriter, which I thought meant I was in the clear, but it doesn't. The property is 195k, I have 125, so I am needing a 70k bridge loan, in a week. Is that a thing? 

Is there a loan product in the world that can help me? 

This is not my first deal, but my first that includes financing and I have never borrowed from a bank before. I have 2 other properties besides my home, and it's my home that I am financing to fund this duplex. So I am sitting on a heap of equity, I have a very low reportable income, which is (I think) what is making this thing take so long. I spent a lot of time studying deals and I am confident this is a good one. I know that leverage is the way to grow my real estate business, but I didn't think to study the loan industry and its products and processes.  

Any advice appreciated!

 I’m not sure anyone is asking to be rewarded for existing. I think people are saying different kinds of people might face different kinds of problems— different mindsets for example— and might find different types of creative solutions that would be interesting to hear about. 

Thanks for sharing this Pat L! She sounds like an extraordinary woman. I wonder why she doesn’t like to talk about her endeavors? I am very curious about all the secret married businesswomen out there, the “wives” at the conferences who are keeping the books and acting as GC.

Actually it was Brandon on the podcast that made the plea. I really like the show. I simply wanted to offer the feedback that if women talked to each other the way Brandon and David do they would not be considered funny. The locker room male ribbing seems easy and natural to some, it can be very uncomfortable for women. We don’t usually build rapport by chiding each other about appearance, for instance. 

When I searched a forum topic under “women” nothing came up. So clearly there is not an ongoing discussion on that topic. 

It is true that there are many RE agents that are women, but not many women investors. When RE investing can be such a great way for moms to scale up and down a business as their “life balance” dictates, why should they be underrepresented? And why are women starting their own podcasts if they are comfortable in an egalitarian, merit based world of Real Estate? 

I really don’t want to stand out as the lone harpy of feminism, thus my above stated reluctance to post this morning. But since a question was raised, I felt my feedback might be usefull. And then it was so misunderstood, I felt the need to reply. 

There ARE women centric issues I’d like to see discussed further. And yes I’d also like to hear about the obstacles overcome by members of other underrepresented groups. Those stories could be useful to us all. 

David and Brandon, I was thinking about why women who were asked would not want to appear on the podcast. Then i wrote out two different posts about ways to be more woman friendly, and then I was afraid to come off bitchy, and there didn’t seem to be a less public way of expressing negative feedback, and then the forum structure seemed very unfriendly to the subject. So... if you are interested is there a place to talk about barriers women face in the Real Estate boys club.