My situation is I have good contacts for great deals, but my credit score
needs work. So I am loosing good deals because I can even get HML I have been looking in Tampa, Fl, but the way the market is today getting a loan from an HML is almost like going conventional.
Basically the only choice I have until I work with my credit is to either flip this properties as they are or pass them to some one else who can rip off the profits for a fee.
I have lost over 10 deals in the past month and I see more and more
without being able market them and acquire a fee for them.
:cool I have some questions for you DO you or are you putting any of your own funds ,if you have them any of the deals ???
AS hard money wants to see you have some of your own money in things !! NOT haveing any of your own money in the deal gives the loan person or persons a bad look at it as you really have no reason to not jump ship !!! THIS is for some reason things went bad !!
NEXT how are you making your deals ?? ARE you wantting 100 % not going to happen in this age!!!
Thanks for your response, you are correct. The deal is that I am getting the deal @ 65% of ARV and that will include the repairs escrow, as you say no one wants to provide the HML, because of all the different bad thingd that have been done to the HML industry which kills it for the good people who are starting out with a good heart for the business.
At this point I believe my only will be to birddog for other investors and loose this deal.