All Forum Posts by: Tyquan Fleming

Or do any cover construction costs only?

Quote from @Chris Seveney:

Quote from @Tyquan Fleming:

Hello BP family, I am currently in the need of a hard money lender, private money lender, or partner that would like to go 50 50 on this deal that I currently have. I’ve talked to many different private money lenders and they all are saying the same thing and aren’t willing to fund. Does anybody have any suggestions of Lenders or let’s work out a deal in a partnership.

 There are many that will go with no min fico, but when you have no experience, a large down payment/equity/skin in the game is required. Otherwise it is far too risky for the lenders to take on all the risk.

I have no problem covering portion at least, the deal has 3 properties on the contract and they aren’t willing to work with that

Quote from @Chris Seveney:

Quote from @Tyquan Fleming:

Hello BP family, I am currently in the need of a hard money lender, private money lender, or partner that would like to go 50 50 on this deal that I currently have. I’ve talked to many different private money lenders and they all are saying the same thing and aren’t willing to fund. Does anybody have any suggestions of Lenders or let’s work out a deal in a partnership.

 There are many that will go with no min fico, but when you have no experience, a large down payment/equity/skin in the game is required. Otherwise it is far too risky for the lenders to take on all the risk.

Hello BP family, I am currently in the need of a hard money lender, private money lender, or partner that would like to go 50 50 on this deal that I currently have. I’ve talked to many different private money lenders and they all are saying the same thing and aren’t willing to fund. Does anybody have any suggestions of Lenders or let’s work out a deal in a partnership.

BP family! I need advice or assistance on how I should go about this Bundle Deal of distressed properties I just came across.

The bundle includes 13 properties (all single-family) that all add up to $407,150 and all but possibly 2 are not in shape to be rented out and would need rehab done to it. However probably half only need a little lipstick work if inspections come out on the better side. The seller is only trying to get around 200k to 210k for the entire package. My only worry is will they all be worth the amount of rehab that will be needed and will they even increase in value enough to make this deal even be worth the time is could take and money. 

However if could work then I am definitely looking for JV partners as soon as possible!

If I go the hard money route for my first investment property, am I still able to use my FHA less than 6 months later for a primary rental or because I have a property already in my portfolio will it be unavailable?

Quote from @Katie Smith:

Hi Tyquan! I just closed a deal in Arkansas! What area are you looking in? Do you have a specific property in mind?

I work with new investors all of the time. I am very much a hand holder with new investors and will walk you through the entire process so that you understand it all. If you don't have an LLC created yet - I would jump on that ASAP. You will need the LLC to be registered, get an Operating Agreement in place, and file for your EIN number. If you have multiple people on the company, you ideally want the person with the highest credit score to have the most ownership percentages.

I currently am looking to invest in the Little Rock area as of right now and possibly the pine bluff area depending on the deal! I have a couple properties in mind at the moment but is still working on evaluation.

Quote from @John O'Leary:

Quote from @Tyquan Fleming:

Quote from @John O'Leary:

Become an LO in the Private/Hard Money space, and pursue both. As an LO workin with investors you constantly network with wholesalers or other investors with deals they can't manage. 

I appreciate your response John! That seems like the route I’m kind of aiming for as well honestly! You mind sharing how I can implement that as my focus while being an LO?

Identify a market where you want to invest and focus on networking extensively. Attend local meetups, REIAs events, and connect with as many wholesalers as possible. Identify promising investment opportunities and present them to the investors you've networked with, while also offering financing options. Selectively choose deals that align with your investment box for your own portfolio. As a Broker in the investment space you can work remotely and build your own schedule.

I honestly can’t say how much I appreciate this response right here! Definitely gave me a game plan on how to move next! Again much appreciated John, I would love to network and create something mutual if that could work with you!

Quote from @John O'Leary:

Become an LO in the Private/Hard Money space, and pursue both. As an LO workin with investors you constantly network with wholesalers or other investors with deals they can't manage. 

I appreciate your response John! That seems like the route I’m kind of aiming for as well honestly! You mind sharing how I can implement that as my focus while being an LO?

Where do I locate hard money lenders in the state of Arkansas or near by and would experience be a huge problem when it comes to creating the partnership?