All Forum Posts by: Samuel Lee

Looking to start a hard money lending company. My partner is actually a real estate attorney. Where are some places I can find clients to borrow from us? Either an online platform or within the Baltimore/D.C.:/VA area.

thanks all for such great info!!

I think in this sellers market that you should sell immediately.  Pricing is very aggressive for sellers.  If you need help in available for info or joint ventures.    I'm always down to do a joint venture too if you would like.

I'm having a hell of a time finding a 1031 exchange intermediary.  Anyone have any recommendations in the Maryland area?  

Also,  does anyone know the cap dollar figure for the 1031 exchange? I hear it's 5.5 million.  What happens if I surpass that.  Can I just create another llc?  

Wouldn't it be better to pay the capital gains now as opposed to later when the capital gains taxes and taxes in general will be much higher? What are the perks to this if this is the case.  I guess besides the hedging in case the market tanks.  

@Judy Rae are there companies that can originate and underwrite loans for me? Using my money as the borrowed money? Also, can you tell me what your company looks for as far as ARV?

To add, I but sfr in the 80k-215k range.

I've solely been buying, renovating, holding for a yr at most to save on taxes the flip immediately.   Most of the times I just sell right away. I keep hearing I should use the brrrr strategy but in a sellers  market where im maxing out every sale is that really the best way to go?  I already have great cash flow from my other businesses.  And I've been lucky enough to net at least 35k- 100k on each flip.  My wife being a realtor doesn't hurt either.    I really don't know anything in this real estate game so I'm going off of my own personal thoughts.  I'm thinking I should do the brrrr when the market tanks until it's a seller market again.   Thoughts anyone??

@george 

@George Taylor I'm familiar with coming up with comps and ARV's. I'm just wondering what the norm is for the amount the ARV should be compared to the purchase price of the home the person who borrows money from me. Is it $50k more than the original sales price or $100k? I'm sure every lender is different but I'm just trying to get a general idea when underwriting future deals. I'll have th borrower put 30 percent down, check previous performance flipping, and I'm just not sure about the ARV number I should expect.

@Steven Stokes  what kind of attorney should I be looking for to help me with this?  Or does anyone have any references in the Maryland area?

@George Taylor what is the ARV usually? Or how much more than original sales price?