Financing and Credit

I am VERY new to this and I must be honest and say that I'm fighting very hard not to get discouraged. Should I be looking for properties first or the money with which to buy the properties. I am trying to go the "no money down" route. Any advice would be fantastic.

Can anyone refer me to a reputable HML that lends either nationally or in Tennessee? I have seen a couple that I have either called or e-mailed and got no response.

Thanks for any help

Once again..... www.craigslist.org ... has come through.

In this business we are Mining for basically 2 things.....Great Deals....and OPM (other peoples money). I think I struck GOLD.

I was just looking for a multi-plex apt and decided to call this guy. I noticed that he had a Huge MEGA unit complex and a small multi plex for sale.

I was just calling on the smaller multi plex and this young sounding guy picked up the phone.

I asked him about the property and he told me about it.

I asked him if the Larger property was his also, and he said Yes....

Help - I need financing options.

I have REO property options, and investor options for a down payment.

I have set up an LLC and have an EIN number as well.

My personal credit score is fair to poor.

Anyone have ideas on financing options. I am running into issues with most lenders I have contacted. Because of either my credit score (+/- 640) or the fact that the properties I'm looking at will be investment only (I won't be living there), or both.

If anyone has any ideas for me, they would be GREATLY appreciated.

Thanks

steve

Hello all my name is Milan (Mike) Skokic and I am getting back into the game of real estate investing and am willing to bust my but to make this work. I am looking for partners in the VA, DC, and MD are to invest in and or do fix and flips/ hold and rent. If there is anyone in the area please let me know ASAP. If you like you can contact me at skokic77@**** or (571)-241-0106

One of my most common questions is "How do I work with hard money lenders?" or "How do I find good hard money lenders"?

http://www.deangraziosi.com/node/4080

This post gives great information about hard money lenders and I want to note my favorite way of finding them here.

Foreclosure auctions are my favorite way to find hard money lenders.

I have read an read and read all the post about financing and credit and money and all I can say is this. I have not been to a bank for financing in almost 4 months. I posted an ad on Craigslist looking for equity partners and/or investors that wanted to pool their funds and put it into some great deals. Now granted, I am working on commercial properties and multi family properties with this new found cash flow -I am still working it.

Okay, making offer right now - need some quick answers:

When using HML, should I make the offer for purchase price PLUS repair costs, with seller concessions in the amount of repair costs, or does the HML just add in the repair costs on the side somehow after the offer has been accepted?

When using "and/or assigns", how do I deal with the places that I have to initial (about a million of those)?

THANKS!

tracey

I have asked here and there in some posts but figured it might be better to start a new post. I learned from Dean's deal of the month video that you can probably find a lender to refi without having to wait six months or one year-- seasoning. Can someone tell me where to find such lender/bank to refi?

I have decided to use HML to buy properties, and need to find the next piece--good refi methods. Talked with a couple of loan brokers, without seasoning? no way, basically that's the response.

So I found a guy on craigslist listing that he has funds available for rehabs and flips. I emailed him and said I would like more info and now I am waiting for him to call me back...

Question is how do we know these people are for real?
What questions do we need to ask?
I just want to make sure I do all the right precautions into making sure they are not a fake and trying to scam me!!!