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All Forum Posts by: Ty Brady

Ty Brady has started 3 posts and replied 22 times.

Post: Private Money Lenders in Sarasota

Ty Brady
Pro Member
Posted
  • Investor
  • Sarasota, FL
  • Posts 22
  • Votes 3
Quote from @Ty Brady:

Hi everyone, just wanted to reach out to see if there are any private money lenders locally here in the Sarasota/Tampa area. I'm a buy and hold investor, but looking to BRRR a few deals this year. Just hoping to find someone local to build a solid relationship with. Appreciate any feedback. Thanks.


 Thank you to everyone who reached out.  Looking forward to working together.

Post: Private Money Lenders in Sarasota

Ty Brady
Pro Member
Posted
  • Investor
  • Sarasota, FL
  • Posts 22
  • Votes 3
Quote from @Tyler Case:

Hi @Ty! Nice name! I'm in Punta Gorda now, but up in Sarasota all the time. Happy to grab a coffee this weekend and discuss your projects. FYI we usually offer 12-24 month financing. We have a few flexible programs specifically for renovations :) 


 Hey Tyler, I'm out of town for 2 weeks, but let's definitely link up when I get back.  I'd love to see what's out there.

Post: Private Money Lenders in Sarasota

Ty Brady
Pro Member
Posted
  • Investor
  • Sarasota, FL
  • Posts 22
  • Votes 3
Quote from @Timothy Hero:
I have the connections for the refinance side when you're ready. I typically stay away from the fix and flip loans, however.

Thanks Timothy, I have a great broker I use for conventional and refi, I was just looking for someone who does short term.

Post: Private Money Lenders in Sarasota

Ty Brady
Pro Member
Posted
  • Investor
  • Sarasota, FL
  • Posts 22
  • Votes 3
Quote from @Doug Smith:

Hi Ty, I'm right up 75 from you in Tampa! I think a lot of the lenders on here, like us, are going to be independent but not necessarily "private" (someone that is lending their own money). Many of us might specialize in fix-n-flip, rental, and ground-up investor spec construction and can get pretty aggressive with assisting investors. Perhaps you can tell us what you had in mind for the types of financing your looking for. That might help us narrow down who you need. 


Hi Doug, thanks for the message. Just looking for up front terms, 6-12 month hold time, 80+% LTV purchase + rehab. I have a few properties with good equity to cross collateralize if needed.

Post: Private Money Lenders in Sarasota

Ty Brady
Pro Member
Posted
  • Investor
  • Sarasota, FL
  • Posts 22
  • Votes 3
Quote from @Erik Estrada:
Quote from @Ty Brady:

Hi everyone, just wanted to reach out to see if there are any private money lenders locally here in the Sarasota/Tampa area. I'm a buy and hold investor, but looking to BRRR a few deals this year. Just hoping to find someone local to build a solid relationship with. Appreciate any feedback. Thanks.


 What terms are you looking for?


Hi Erik, looking for basic fix and flip or brrrr terms. Looking at 2 projects one is a $900k PP with $250k in rehab and an ARV of $1.5m with 8-12 month for the rehab. The other is $320k PP with $50k in rehab and an ARV of $480k with 3-6 months for rehab. Neither are home run flips, but both are in great areas for long term rentals/appreciation.

Post: Private Money Lenders in Sarasota

Ty Brady
Pro Member
Posted
  • Investor
  • Sarasota, FL
  • Posts 22
  • Votes 3
Quote from @Joseph Stern:

@Ty Brady hey Ty, I have a guy who lends his own personal capital in the tampa area, real straight up guy easy to work with. Let me know if you’re interested, shoot me a dm.


 Hey Joseph, thanks for the reply.  I'd love to connect. 

Post: Private Money Lenders in Sarasota

Ty Brady
Pro Member
Posted
  • Investor
  • Sarasota, FL
  • Posts 22
  • Votes 3

Hi everyone, just wanted to reach out to see if there are any private money lenders locally here in the Sarasota/Tampa area. I'm a buy and hold investor, but looking to BRRR a few deals this year. Just hoping to find someone local to build a solid relationship with. Appreciate any feedback. Thanks.

Post: Counter Offers on Deals

Ty Brady
Pro Member
Posted
  • Investor
  • Sarasota, FL
  • Posts 22
  • Votes 3

Congrats Christin! Great job!

Post: Counter Offers on Deals

Ty Brady
Pro Member
Posted
  • Investor
  • Sarasota, FL
  • Posts 22
  • Votes 3
Quote from @Eliott Elias:

It does not matter what market we are in, make the offer that makes most sense for you. Your realtor should be able to gauge your leverage and advise you on how to negotiate from here. 


 Yep

Post: Counter Offers on Deals

Ty Brady
Pro Member
Posted
  • Investor
  • Sarasota, FL
  • Posts 22
  • Votes 3
Quote from @Christin Nguyen:
Quote from @Ty Brady:
Quote from @Christin Nguyen:
Quote from @Ty Brady:

Hi Christin, I always think it's worth it to ask.  The fact that they didn't say no to your first offer shows that they are negotiable.  Never hurts to ask.  I've been finding a lot of sellers are open to working with buyers right now even in my market which is still pretty hot.  There are not a lot of buyers, so I believe the buyers that are in the market right now have some leverage.  I've been getting some good deals.  Hope this helps.  Good luck and feel free to follow up.

Ty


 Hey, thanks for your input. Do you have any advice on how much I should ask in sellers credit?  and does sellers credit equate to how much they’ll take off of my closing cost? Could you go more in depth about that please?


 Hey Christin, it's hard to say without knowing your market, the comps, the specific property.  I go for deep discounts in properties and I'm not afraid to walk away from any deal. The last property I bought was listed for $760k. I offered $520k.  We negotiated throughout the processes and I ended up paying $562k with $15k in seller credits (So, I really only paid $547k) and I'm in a hot market.  I would stick to your numbers and if asking for $5k in seller credits makes sense than do that. If $2.5k in seller credits makes sense then do that.  In the future, I would start at a lower initial offer, so there is room for negotiations.  As far as how seller credits work, yes, that amount comes off of your closing cost.

Ty


 Hey thank you so much, that was really helpful! I will have to think about how much to ask for in sellers credit then. 


 No problem.  Let me know how it goes!

Ty