Attention house flippers in need of money. We have you covered. During the past few months, we have been looking for ways to add value and to help Pittsburgh based real estate investors more successful.
What we came up with is pretty amazing. We now have access to nearly unlimited funding for fix and flip deals anywhere in Pennsylvania. The guys that we found are Texas based, and after some negotiating, they are now lending in PA. The have about $50,000,000 to lend, so they shouldn’t run out of money any time soon. No getting left in the wings, while your lender mysteriously finds new and creative ways to delays your closing. That is not a fun conversation to have with a seller. “sorry, but I can’t close this week, the funds aren’t ready”
Here are the bullet points !
They will lend up to 70% of the After Repaired Value ARV
Interest rates below 10% – that is as good as private money in most cases, with the added advantage that you don’t need to have friends with large piles of cash just laying around, and you don’t need to pay a lawyer a big pile of money to create the paperwork to legally secure a private loan. You also don’t have to spend all of your time practicing your elevator speech to raise private money. Just incase you want to give it a whirl, you can use mine. “When I was a kid, I used to collect baseball cards. Now, I collect houses. I actually make a lot of money for people who have money sitting on the sidelines, and not getting a high rate of return on it. From time to time,, I find a great deal, and I don’t have time to wait for a bank. If I wait for a bank, someone else gets my deal and I get nothing. So, in order to move quickly, I will occasionally offer someone a high rate of return, in exchange for funds in a hurry. Should I put you on my funders list and contact you when I find a great deal?” You have no been trained on the basic skill of raising private money. The problem with private money is that you either need a list of friends and relatives with money (which most of us don’t have) or you need to work at it all the time. To make matters worse, strangers, and random acquaintances, tend to want you to have experience as a house flipper BEFORE they will lend you money. That causes a catch-22 that is hard to get out of.
Now, this isn’t the Olympics, and you don’t get bonus points for degree of difficulty. The is a much easier way, to get the money that you need to for you fix and flip deals.
You need to contact Josh, that get’s the ball rolling.
Either email PittsburghREIA@aol.com or Josh@EasyStreetCap.com
If you really want to chat, you can call directly at 412 592 2146
Now back to the highlights.
Interest rates below 10%, some people pay more for private money than that.
Can fund in 48 hours if you are in a hurry
No experience necessary, your deal is what matters, and the numbers of your deal.
Will lend up to 90% of the purchase price and 90% of the rehab. You will need some money, but it doesn’t have to be your money. I will cover that in a future article. There is always a work around if you have a strong deal.
No BS junk fees, I have literally seen hard money lenders who claim that they will fund 100% of a deal, tack on 15-20k in “fees” That is a far cry from 100% finding.
No 3rd party appraisals. The funders that we found are flippers. They flipped 2,000 houses themselves. They do their own evaluation on the deal. That means that you don’t have to sit back, a week before closing and pray that your appraisal come in. Guess what happens if you appraisal comes in low? You get to come up with more money at the closing table. Yay, that is a fun adventure. Either lose your deal or scramble to raise extra capital. With these guys, you know what you are getting and have a commitment to lend very early in the process. Also, you don’t have to pay $500-$2000 for an appraisal.
No experience required
No minimum credit score
You do not even need to be a permanent US Resident
They way that this works is pretty simple.
1 You find and evaluate a deal.
2 You contact Josh
3 He spends 5 minutes getting the details of your deal into a protal
4 You get a loan quote, it is that freakin simple.
5 It costs you NOTHING to Apply
So, quit reading this post, and reach out
PittsburghREIA@aol.com or Josh@EasyStreetCap.com
412 592 2146
PS, there is a lot more funding to come !!! So check back