Hey BP Community,Long time reader, first-time poster here.I wanted to introduce myself, and start engaging with the BP readers. I currently reside in New York City, but I spent the first 27 years of my life in the ups...

May be some market data somewhere that will show you where people are intending to move.There is 1 big development going on here, that's The Garrison. https://pencegroup.com/portfolio/the-garrison/Supposed to be shopping, dining, and apartments. 

Originally posted by @Omar Khan:@Jonah Bee I have not done a deal with them but they have sent me a gazillion emails without me ever signing up for their newsletter.

Originally posted by @Wayne Brooks:I assume you’re getting an fha or conventional loan....this is who sets the basic rate, not the lender.  

Originally posted by @Thomas S.

In sum, you need to make some pretty substantial improvements (like almost razing the original building).

Originally posted by @Jon Mark:Hello all,I have found a deal that I need a hard money loan for since I cannot put 20 percent down on the property, it’s 4 units all on conjoining properties, it will be around 430k to get the deal to work.However, if I acquire the deal, I currently have bad creditWill it be possible to refinance out of the HML if I show good cash flow and signficant equity, even with bad credit?

Originally posted by @Pat L.

Originally posted by @Dakota Ochoa:@Joe VilleneuveMakes sense, and I’ve heard this before, but I had a hard time making a step by step plan until I just recently listened to a BP podcast that explained how to do just that in good detail.

Origination/administration fee 6% due when the clients receives the money and the interest (usually 4-7%) can be deferred until repayment.