new investor looking for lender

I have been researching real estate for a couple of years now. I recently own a golf mgmt. co. and want to evolve into investing. I have taken classes (JG Banks) and read literature and have a reliable RE agent sending me rehab properties. I do comparables and discount analysis on the properties and have a few potential rehabs 30-40% below ARV. I have a few specialist ready to go. What I need is a lending source and some options. Credit in the 730’s.

property listed 92,000
ARV 145,000
loan desired 115,000

Welcome Olie! What area of the country are you in?

Hello Mark.

Thank you for the reply. I currently reside in St. Louis, Missouri.

Please feel free to email if you would like to discuss further options.

Hi Olie,

I live in St. Louis. actually Wentzville.

Nice to see so many people from St. Louis are here on the board. Our market is hot right now.

You have several choices. There are conventional rebab loans and hard money rehab loans.

I am sending you an email with different programs available.

Have you been able to find an agent,appraiser, and insurance agent to work with yet. If not please let me know and I can make several introductions.

Can you send that info Tennessee folk?

Much Success,

I know a man in South Carolina (Licensed in all 50 states) that works for a direct lender who deals exclusively with investors. I personally have done a lot of business with him and when it comes to financing investment properties he is the man. He will do CASH OUT INVESTMENT PROPERTY, TRUE NO SEASONING, NO DOC

Can you give me contact infomation?


You have a great advantage with your credit quality. You have a second advantage that you have an established business. Look to acquire a small unsecured business line of credit. It should not be a problem with the credit and business you already have. If you use this line for your rehab costs, you then can structure a straight acquisition and may stay away from higher priced money.

The line of credit is renewable capital so once paid back after liquidation of the property you are ready to go with it again. In addition, some rehab lenders will allow a draw down on an unsecured business line to be used as the required investment. It is an structure that will allow 100% financing on such a deal but not necessarily a 100% lien.

Gee…let me guess. Based on your Site ID, the_rei_lender, I bet that man is you ::slight_smile:

Based on this blog I would bet that man is him too.

Just curious the_rei_lender do you always refer to yourself in the third person?

Hi Olie,

I’m from St. Louis (actually St. Peters). I can’t help you with residential but I would like to tell you about a local investment group. Its called the Wealth Improvment Network ( Its a great place to network. Marlene Trice is the administrator of the group.

Patti Porter

it does’nt matter if he’s speaking in third person or to some other person please e-mail me the info. on the brother from another mother in s.c…thanks.