financing needed!!! - Posted by logan

Posted by John B. Corey Jr. on April 18, 2005 at 19:52:11:

The local RE club is a great starting place. The classic of networking to find folks that either make loans or are investor who know where to find funds.

Many hard money lenders are very local and tend to focus on things they know. You could call them older investors who get tired of the hands on stuff so they use their cash to invest in deals.

MH is very different from deals with land so expect that you may find lenders who will do one but not the other.

New construction can be a different activity. There should be local banks that fund construction deals. This is very much bread and butter business for some local lenders. They will care a lot about your prior experience with new construction so you might need to partner on some early deals.

John B. Corey Jr.
Chelsea Private Equity LLC

financing needed!!! - Posted by logan

Posted by logan on April 15, 2005 at 11:58:24:

I am only 21 yrs. old, looking for financing in florida and california. I am interested in either new construction or rehabbing. If anyone can help, i would appreciate it very much!

Re: financing needed!!! - Posted by John B. Corey Jr.

Posted by John B. Corey Jr. on April 15, 2005 at 21:45:03:

Why the geographic spread? A little hard to be hands on with the rehab at those distances.

John B. Corey Jr.
Chelsea Private Equity LLC

Re: financing needed!!! - Posted by logan

Posted by logan on April 16, 2005 at 13:25:37:

because i am in california a certain amount of months a year and might permanently move there but i live in tampa florida now and are here for more than half the year. Wherever i can good help on financing thats where i will be, so that why california and florida.

Re: financing needed!!! - Posted by John B. Corey Jr.

Posted by John B. Corey Jr. on April 17, 2005 at 11:50:43:

You can find good financing all across the US. Mostly it will come down to the quality of your deals (new construction or rehab). A second large factor will be your credit history. Finally it will revolve around the amount of money you or an equity partner has in the deal. For new construction assume someone has to have equity in the deal before a lender will release any funds.

So, now that you know it is possible can you narrow down the request a bit? It is like saying where is there good food? Too broad for someone to provide a use suggestion other then both states will do.

Re: financing needed!!! - Posted by logan

Posted by logan on April 18, 2005 at 18:28:03:

Hey john,
thanks so much for the reponse! if you don’t mind i need to ask a couple of questions. my credit is good and i am interested in new construction or dealing with modular homes as well as i would like to rehab. i have two areas in florida that are pre-construction and there is good equity involved i just need to know how to find any hard/private money lenders please. also i would like to rehab and would love having a private or hard money lender, i don’t have any deals that i know of right now but i was just planning on getting my financing in order first then look for the deals so i can close quickly, i planned on finding some of my deals at my real estate club buying them from wholesalers, please respond!

Re: financing needed!!! - Posted by Jamie Magnon

Posted by Jamie Magnon on June 14, 2005 at 01:00:04:

I have my own company that deals strictly with all types of creative lenders. send me an email on any project and I will be glad to walk you through it.
Sincerely, JAMIE