That was smart. The private lender basically gave your student "down payment assistance" for the items he/she couldn't come out of pocket for. Then he/she pays it back throughout the life of the loan or earlier.
April Crossley no thank you because I didn’t know what a bird dog or sdira was or that private lenders had these charges I am gonna do a private loan for a flip to get in the game my plan is rental property but don’t want to wait for the capital...do they expect you to have reserves saved up or do they just go by your income and your proposal on the numbers I have no savings but make 70k+ a year 😂
Great explanation, very clear and to the point. Lots of other videos about REI on youtube has minutes of stupid humor... If I wanted to watch a comedy I would have done so haha.
Thanks for watching one of my most popular videos on RUclips! ☺Come join my FREE Facebook Group - RV REI and let's #GrowWealth and #ChangeLives together facebook.com/groups/1295813490499916
That was a great way to explain using private money for a rehab. You covered all bases in a simple, concise manner that I could totally understand. Thanks April for sharing your knowledge. I hope to be like you one day and help other people with investing.
I have heard that it's difficult to get private lenders on real estate in PA due to the long foreclosure process, especially on deals where you use private money to fund the purchase and then create a wrap for a new buyer, do you find this to be true? Thanks!
Can you do a video about how you finance a flip with PL, from how much down payment they want , interest rates they charge to closing,if you have a video already can I get a link, thanks
Love this video, thanks April!! Side question, how would a lender get paid on a buy and hold rental properties? Simply just through the monthly interest rate or what other methods would they want ROI, if there are multiple?
Hi April, wanted your advice..on best course of action.. I want to buy an investment home for 80k that is worth 140k and is in great shape..(my 1st investment home, I've already been inside the property. I want to buy and hold property. 1. Should i try to find a private money lender 1st and then refinance later or should I pay 20% down and go with convential mortgage? I want come out of pocket with as less money as possible.. 2. It is a little more difficult finding lenders that will do loans under 100k.. Thanks love the channel!!!!
hi, im a newby, i got lost at the separation of PL funds for the upfront fees, will the fee be separated at the closing table or will the PL expect me to pay him upfront fees before he lends me money.
Who agree the Ladies make it sound clear and doable, while the fellas make it sound like you building 9 electromagnetic invisible spaceships that only fly at 3 in the morning every 3rd Monday after Christmas following the late night show with Jimmy Fallon but only if you watched your nightly news at 10 (three nights in row) at the exact moment the 4 wolfs howl at the blood moon?
I don't for the life of me understand which lender is going to finance a buy, fix and flip 100%. Why are you calculating the loan to value at 70%? Isn't the house worth 43k? Granted the rehab costs are (crossing our fingers) approximately 29K and are going to be disbursed as the rehab progresses but during that time the actual value of the house will be less then the original 43k purchase price. I mean I'm not an appraiser but a torn up house in the middle of a renovation is not going to appraise well. But I digress. Total loan just to purchase the property is over 100% LTV. Who would do this? What is their security, if things go bad?
That was smart. The private lender basically gave your student "down payment assistance" for the items he/she couldn't come out of pocket for. Then he/she pays it back throughout the life of the loan or earlier.
Exactly! :)
She breaks down every nuance and is the best explainer I have heard on RUclips
Thank you!!!!!
April Crossley no thank you because I didn’t know what a bird dog or sdira was or that private lenders had these charges I am gonna do a private loan for a flip to get in the game my plan is rental property but don’t want to wait for the capital...do they expect you to have reserves saved up or do they just go by your income and your proposal on the numbers I have no savings but make 70k+ a year 😂
The closing costs that you roll in, include the down payment?
Great explanation, very clear and to the point. Lots of other videos about REI on youtube has minutes of stupid humor... If I wanted to watch a comedy I would have done so haha.
Nicely explained! Could not see below the $74K figure but I managed to follow completely!
Glad you enjoyed and were able to follow :)
Thanks for sharing this, especially the part about borrowing money then getting a check upfront to pay for the different fees.
Thanks for watching one of my most popular videos on RUclips! ☺Come join my FREE Facebook Group - RV REI and let's #GrowWealth and #ChangeLives together facebook.com/groups/1295813490499916
Great content and great way of explaining. Thank you!
That was a great way to explain using private money for a rehab. You covered all bases in a simple, concise manner that I could totally understand. Thanks April for sharing your knowledge. I hope to be like you one day and help other people with investing.
Thanks for the share ! This is a Great Way to Structure Quick Fix and Flip Private Money Loans.
What is the interest rate that was paid to the Leander and the (FULL) payment of the loan ;back to the LEANDER ?
Nice video. I was just asking if this was possible.
This is the video I’ve been searching for
How do I become one of your students? Do you only have students in PA? I’m in Maryland
What is a Bird Dog fee?
Great explanation can’t believe there was no downpayment! But what’s their points, and interest percentage?
Thank you, April. 😎👍
you are quite welcome!
How do we know for sure if the lender got money from a self directed IRA? Is there proof of it?
Great content.
Let me ask you, if you were to be the lender, how would you structure the main base formula from which the different structures are created from?
very useful information, subscribed
I have heard that it's difficult to get private lenders on real estate in PA due to the long foreclosure process, especially on deals where you use private money to fund the purchase and then create a wrap for a new buyer, do you find this to be true? Thanks!
idk about the wrap part but I've been using private funds in PA for 12 years and have never had anything but more lenders than I have deals for.
I have a dumb question. What's your safe preference in receiving the private money? Do they send the money via PayPal, bank wire, etc.?
Can you do a video about how you finance a flip with PL, from how much down payment they want , interest rates they charge to closing,if you have a video already can I get a link, thanks
Love this video, thanks April!! Side question, how would a lender get paid on a buy and hold rental properties? Simply just through the monthly interest rate or what other methods would they want ROI, if there are multiple?
Hi April, wanted your advice..on best course of action.. I want to buy an investment home for 80k that is worth 140k and is in great shape..(my 1st investment home, I've already been inside the property. I want to buy and hold property.
1. Should i try to find a private money lender 1st and then refinance later or should I pay 20% down and go with convential mortgage?
I want come out of pocket with as less money as possible..
2. It is a little more difficult finding lenders that will do loans under 100k.. Thanks love the channel!!!!
hi, im a newby, i got lost at the separation of PL funds for the upfront fees, will the fee be separated at the closing table or will the PL expect me to pay him upfront fees before he lends me money.
If you do mortgages for homeowners I am looking for some who will pay me for loan applications or pay me a fee when u close
What is the name of this private money lender company?
Great video
Reminds me of the mom from Bobby's World... "Don'tcha Know eh..."
Who agree the Ladies make it sound clear and doable, while the fellas make it sound like you building 9 electromagnetic invisible spaceships that only fly at 3 in the morning every 3rd Monday after Christmas following the late night show with Jimmy Fallon but only if you watched your nightly news at 10 (three nights in row) at the exact moment the 4 wolfs howl at the blood moon?
LOL true!
Shes a lot further ahead of the game.
Took a minute but the light💡 finally went off!!!
Lol 😆 true.
Ala Real .Estate lol My thoughts
How to work with you?
BX STAND UP!!!
What information did the student present to the HML?
I don't for the life of me understand which lender is going to finance a buy, fix and flip 100%. Why are you calculating the loan to value at 70%? Isn't the house worth 43k? Granted the rehab costs are (crossing our fingers) approximately 29K and are going to be disbursed as the rehab progresses but during that time the actual value of the house will be less then the original 43k purchase price. I mean I'm not an appraiser but a torn up house in the middle of a renovation is not going to appraise well. But I digress. Total loan just to purchase the property is over 100% LTV. Who would do this? What is their security, if things go bad?
How much he ended up paying to the lender once he sold the property? I didn’t get it
can i ask for hard money loan for building ground up?
did u tell the lender what u were doing with there added fees?
So the lender wanted loan points paid up front. Instead you borrowed it from the lender and paid later ? Honestly confusing.
906 likes for information that costs freedom.. thank you, April.
If I borrow money from a private lender to fix and and flip a house can I pay them back after the house is sold? What if u can’t pay them monthly?
You have to come up with the terms with your lender. Tell them your situation and work from there.
What is a bird dog?
A dog for bird hunting.
Where our houses for $43,000
Could I find a lender for wholesaling?
Usually you would find a buyer for your deals.
April Crossley what if u just some money for fees and earnest money deposit?
I’m sure with the right person. Or maybe look to negotiate it into your terms.
My friend wants to know if your Single? Or have a sister?
Haha I saw a ring on her finger in a video.
creep
To much up front expenses. It's a scam. Every one's making money the buy is getting screwed.
English please
Bullshit. No such house for 40thousand dollars