All Forum Posts by: Sharon Evans

@Nick Fitzpatrick thanks for the speedy reply! You touched a some points that I'm currently in the process of researching, so I appreciate your insights.

I need to do more research, but I believe some HML, like Lendinghome, have an option for draw requests, but I have to ask more questions to be 100% certain. Also, we're looking into contractors who are willing to work with renovation loans and will, hopefully, take payment directly from the lender at the time of draw. I recently learned that LOWES offers whole home renovation services, and after talking with a project manager we learned that they will accept payments at the time of draw. So that's one plus, but I think we may need other contractors, so we're working on that piece of the equation. In Chicago, it's common for contractors to work this way, but I'm not sure how that works here in ATL.

Do you have any recommendations for lenders who specialize in renovation loans, or other reputable HMLs?

Hi there! My fiance is ready to emabark on his first fix and flip, and he's looking at a Hard Money Loan with Lending Home to finance the purchase and renovation.

As you all know, these HML loans come with a hefty down payment requirement. He has great credit, so obtaining a loan for the down payment and fees (~$20k in this case) would not be a problem, and it's an enticing option considering that the HML lender doesn't really care about credit and DTI ratios. We would also use the personal loan to pay the holding costs during the renovation. Our plan would be to repay the personal loan once the deal is complete, of course. He has enough money to fund the down payment from savings, 401(k) etc., but we don't want to dip into our emergency funds on this first venture.

Has anyone ever utilized a personal loan, along side a HML, to get through your fin and flip project? Does anyone have any other suggestions? Any advice would be greatly appreciated. Thanks!

Hi there! My fiance is ready to emabark on his first fix and flip, and he's looking at a Hard Money Loan with Lending Home to finance the purchase and renovation. 

As you all know, these HML loans come with a hefty down payment requirement. He has great credit, so obtaining a loan for the down payment and fees (~$20k in this case) would not be a problem, and it's an enticing option considering that the HML lender doesn't really care about credit and DTI ratios. We would also use the personal loan to pay the holding costs during the renovation. Our plan would be to repay the personal loan once the deal is complete, of course. He has enough money to fund the down payment from savings, 401(k) etc., but we don't want to dip into our emergency funds on this first venture.

Has anyone ever utilized a personal loan, along side a HML, to get through your fin and flip project? Does anyone have any other suggestions? Any advice would be greatly appreciated. Thanks!

Thanks for the reply @Dan Mahoney

One last question...why would Vesta show up as the buyer of the taxes for a sale/auction that's in the future? That listing was for the April 1st auction. 

@Dan Mahoney, this is a very thoughtful and informative post. I'm new to the Atlanta area and am ready to start investing in Tax Deeds for the first time. I do, however have a question. After viewing the listings at the dailyreportonline.com, I see that the format of the information is as follows:

CURRENT RECORD HOLDER: JANE MARIE DOE, LLC
DEFENDANT IN FIFA: JOHNIE B JOHNSON LLC
TAX TRANSFEREE: INVESTA SERVICES, LLC SERVICER FOR MICHAEL TRST. CUSTODIAN FOR BMARIE; INVESTA SERVICES LLC MICHAEL TRUST AS CUSTODIAN
AMOUNT DUE: $x,xxxxx
TAX YEARS DUE: 2014, 2015

What does it mean when the current record holder is an LLC? Who is the defendant? Why is the Tax Transferee a Trust?

I'm just trying to understand the who, what and why. Thanks!