Great Deal… I Just Don’t Have the Funding
This used to happen to me. A little too often to tell you the truth. I found a great deal for a rehab project but all my money sources were already used up and 14%-18% hard money was just too expensive and killed the deal.
We knew things had to change. So we hunted for funding sources that made sense to investors, not only for our benefit but to the benefit of the group of investors we work with. So, what did we find?
The one company that stood out amongst the rest of the lenders was LendingHome. Now when we spoke to them originally, we were skeptical. They were offering rates of as low as 7%, LTVs as high as 90%. But on speaking with them further, it was clear they were designed to make it simple for investors to fund deals and to work with them for the long term.
I know what you’re thinking, I’m telling this to you to sell you them as a funding source. Honestly, it’s information that’s here to give you an option in the event that you need them. The more tools an investor has in their arsenal, the more success they will have. There is a initial signup and approval process, but after that is complete, you just call your personal Loan Originator with your deal and they fund it within a couple of days.
LendingHome have a initial signup process that takes 15 minutes to complete or if you are not sure and you want to speak to someone first, please email Gabe Bodner if you have questions and mention WholesalePropertyAZ. He has agreed to give our investors a better rate. The link is a referral link so if you find their services worthwhile, we both benefit from it.
Oh, and ask them about their Buy and Hold terms. They do that too!
Now go make some money!