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All Forum Posts by: William Green

William Green has started 4 posts and replied 13 times.

Post: Business Credit to Fund Your Deals

William Green
Pro Member
Posted
  • Posts 14
  • Votes 4

There's a few business credit line options out there. They do require good credit, and creativity in getting the funds converted from credit cards to cash. There is also 100% hard money financing. 

Post: 100% Hard Money Fix and Flip Financing in California

William Green
Pro Member
Posted
  • Posts 14
  • Votes 4

Hard money loans offered for fix and flip projects. I can loan up to and at times over 100% of the purchase price and rehab. Any property that comes in at 75% of ARV or lower I can offer up to 100% of the purchase price and 100% of the rehab. That is the only requirement, I will not take an equity share, there will not be an extensive approval process, and our points and interest rates are competitive and within the same range of most other lenders. Experience is of course preferred but NOT necessary for this program. I can also offer 100% financing on new construction projects. If the new construction project cost is 70% or less of ARV then I can do 100% of the PP and Construction costs.
NO FORMAL APPRAISALS. Just an in house BPO to confirm the values. I can usually get your project approved with loan amounts in 1 business day. We can close as soon as 5 business days.
These loans are asset based, you do not need a certain credit score or income to qualify. If the project is a good deal then we can fund it.

I can also offer another ''gap fund'' type of loan program for additional funds you can use to cover the carry costs.

The first loan program is good for California, the second can be used in any state.
Also inquiry if you are looking for inventory in southern California.

You do not need to have a property tied up to ask about any of the loan programs, I will even be willing to take a look at potential deals you have your eye on and give you some preliminary loan figures

Post: 100% Financing - Hard Money

William Green
Pro Member
Posted
  • Posts 14
  • Votes 4

Hi Ben, we do 100% financing on fix and flip deals in California. If the deal is 75% or less of ARV we will finance 100% of the PP and rehab

Post: Anybody flipping in palm springs?

William Green
Pro Member
Posted
  • Posts 14
  • Votes 4

@TJ Watson Thanks! Really appreciate it. Yes I have a three man contractor team out there. Pool contractor, house contractor, and landscape contractor. They all do a great job. I just listed another flip I just finished up at 4373 camino parocela. I’ve done 11 flips out there myself and sold around 50 to clients of mine. I would say Palm Springs and LA are where I do the bulk of my business. I am apart of one buy and hold. 467 e molino rd. It was a flip and hold. We got it for 370k put about 110k into it and rented it out on Airbnb. On paper it’s done great, but with the high rental prices it commands the tenants can be quite needy. We did pretty well this last year but now after losing Coachella and stagecoach rents plus several more cancelations and with the uncertainty of traveling during this virus take over we are going to sell it. List price will be 669k. I noticed a huge slow down in buyer activity with my other flip this week, and think it will take some time to sell this one just due to everything that’s going on. We will keep it both for sale and for rent.

Post: Anybody flipping in palm springs?

William Green
Pro Member
Posted
  • Posts 14
  • Votes 4

@John D. address was 2225 hildy

@Roger Evans I love Palm Springs! It’s made me a lot of money over the last few years and is always a super fun place to hang. 

Post: Southern California acquisition Realtors Needed

William Green
Pro Member
Posted
  • Posts 14
  • Votes 4

At Fortune Weavers our mission is to give every agent in our office the keys to success with our truly unique program. We focus on the investment real estate niche, and offer our realtors everything they need to have immediate success once they come on board. We know how hard it is to find motivated, well qualified, loyal, and decisive clients. So we are offering each agent that comes to our door the exclusive right to representative dozens of clients we have in our network on the purchasing and selling of investment properties all throughout California. Our clients are proven investors who have closed on dozens to HUNDREDS of houses all over California. You will have access, and the exclusive right to represent these buyers and sellers without any referral fees. You may be thinking this can not be true, and that no real estate professional would ever give away grade A clients. But, the demand for properties from our investor clients is too great for any one of us to fill. We simply don't have enough time to supply the amount of inventory our client data base is looking for. We are partnered with several real estate investment teams who purchase well over a hundred houses a year in California. Our agents can literally sell 100 houses a year just from our database of clients. On top of offering our realtors the ability to sell his much volume each and every year we also offer hands on training, and our Evergreen Academy. Our Evergreen Academy is free to all agents who join our brokerage. The Academy teaches agents everything they need to know about finding the types of properties these investors are looking for, as well as all the in's and outs of the business. The Academy also teaches agents how to find their own clients. We have very stream lined and compelling ways to reach buyers and sellers and will share these secrets with you in the Evergreen Academy. We offer hands on training and are always available to help answer questions, and guide you through a deal. We are also offering our agents and their clients the revolutionary financing options we offer. From institutionalized gap funding, to hard money loans that cover 100% of the purchase price and rehab cost, and all other real estate types of loan programs.
Whether you are a brand new agent or a seasoned veteran, we are here to help you have the career and income you have been dreaming about.

Post: Tips for Posting in the Marketplace Forum

William Green
Pro Member
Posted
  • Posts 14
  • Votes 4

Is there a place to promote flips for sale that you own or have under contract? Or can we only post rentals in the for sale section?

Post: Anybody flipping in palm springs?

William Green
Pro Member
Posted
  • Posts 14
  • Votes 4

Investment Info:

Single-family residence fix & flip investment in Palm Springs.

Purchase price: $335,000
Cash invested: $445,000
Sale price: $595,000

Classic palm springs fix and flip with a killer spread. We received multiple offers on the resell end.

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

Investors cash

How did you add value to the deal?

designed and managed contractor

What was the outcome?

Bidding war and full price offer

Lessons learned? Challenges?

EVERYTHING with partners and contractors must be in writing

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Just me

Post: Vacation Rentals Club In SoCal

William Green
Pro Member
Posted
  • Posts 14
  • Votes 4

My favorite way to look for vacation rental is comps is by checking homeaway. You can see all units available fo rent, for how much, and if you dont choose specific dates you can see on the calendar how many days per month get booked.

Post: Help! Moving from illinois to Cali

William Green
Pro Member
Posted
  • Posts 14
  • Votes 4

@Rahul Handa With home prices in Cali generally being pretty high the average cap rates aren't too thrilling, BUT there are certain areas/properties that are exceptions to this. I have a rental in california my partner and I purchased for 375k that grosses 80+ thousand a year. 

One great think about sacto and many other areas of norcal is that its appreciating quickly, you may not get exceptional rents but you should have good equity in a short amount of time if the market keeps on the projection. 

Rates are low and there are ways to get loans based off the rental income capabilities of the property instead of your income and credit.

So I think you are making a great move coming to california and there will be plenty of opportunities for you here. Its a big state with lots of areas of opportunity.