All Forum Posts by: Thomas Richardson

I’m a private lender and have capital I need to deploy in a real estate deal sooner than later. Are you currently on the market for funding? Any deals in the works that you need money for? Or, any free and clear assets that you’d maybe like to leverage with cash-out refinance? Please text me at 832-297-5607

Araceli, I just send you a request.

0 Votes

Quote from @Araceli Gutierrez:

Hello Olivia,

0 Votes

Quote from @Chris Seveney:

Quote from @Thomas Richardson:

Can anyone offer some advice on private money lending? I find good deals more often than I can afford to purchase them. I know that there are people out there who would be interested in investing with me, but I don’t know where to begin with private money lending. Ive never been good at pitching people for money. The area I invest in produces good cash flow and good appreciation as well. Please offer any suggestions or wisdom! Thanks.

What is the LTV?

Borrower credit?

Borrower experience?

I’m more looking to network for future deals. I find good deals in my farm area fairly often so I am trying to have my ducks in a row for the coming deals. I have credit in the high 700s, I have over 10 units, have done several refinances and buy and holds.

0 Votes

Quote from @Jay Hurst:

Quote from @Thomas Richardson:

What market's do you invest in?

I stay in outer atlanta markets.

0 Votes

Quote from @Adam Schneider:

@Thomas Richardson

Your note mentions good cash flow. Assuming you are keeping them, you'll want to familiarize yourself with the BRRR method--both in terms of concept and actual tips and traps. Essentially, you'll use a short term loan for the acquisition and rehab. Once you have stabilized the property and satisfied long-term loan seasoning requirements of the bank, you'll refi to the less expensive long term lender.

I’ve actually utilized the BRRRR method a handful of times with great success. I’m trying to build different streams of financing, which is why I’m trying to find private money lenders. I believe both BRRRR and private money have their place in my particular area and business model.

2 Votes

Would typically be rehab loans.

0 Votes

Quote from @Mike Grudzien:

Thomas,
Check out @Beth Johnson and her book, "the bible of private money lending": "Lend To Live". She's here on BiggerPockets too.

Mike

Just purchased! Thanks.

2 Votes

4 Votes

Does anyone have experience with vacation home rental properties? Buy a 2, 3, or 4 plex. Rent out each unit except for one of them. Have the renters pay your bills (ideally all of them and then some), leave the one unit open (or use Airbnb when you aren’t there) and have a unit for vacation if and when desired. Seems like this would be desireable especially when lots of vacation spots are hot spots for real estate appreciation. Let me know what you guys think! Thanks.

0 Votes

All Forum Posts by: Thomas Richardson

Thomas Richardson has started 3 posts and replied 11 times.

Post: Looking for a private money lender

Post: Looking for a private money lender

Post: Looking for a private money lender

Post: Private money lending

Post: Private money lending

Post: Private money lending

Post: Private money lending

Post: Private money lending

Post: Private money lending

Post: Vacation home rental