I'm still seeking a dp1 or dp2 policy in Pinellas County, FL. was declared insolvent in February 2023

What should I avoid when seeking a loan?

The problem many face is being outbid by a few entrenched players who dominate local auctions or others willing to pay too much.

I never cared what they are making as the assignment fee, as long as I knew the numbers worked on my end.As for a purchase & rehab lender that will finance up to 100% of the wholesaler's assignment fee - I can introduce you to one that finances that and also 100% of the purchase & rehab up to 65-75% of the ARV.As a lender I sometimes receive off-market properties from wholesalers and other sources and share them to our borrowers if they fit what they are seeking.

In your situation, seek out a partner who is already experienced in this type of acquisition and managing the same.Share split? 

Surround yourself with like-minded individuals who are at a similar stage in their investment journey, or seek out those who are 1-2 steps ahead.

If seeking conventional financing, you cannot do a cash out refinance based on ARV until 12 months of ownership.

If you are seeking a more traditional DSCR type loan, then typical guidelines apply; Credit, Liquidity, and Experience. 

Readers are advised to seek professional advice.

Hello Bigger Pocket Pro Members,I'm seeking guidance on finding lead source companies.