![]() So if I buy a property for 400, I'm going to put 100 grand of renovations into it. Pace: Love it! Okay, So what I'm saying is like, I love the answer, that's exactly what I was looking for. Anyone doing 10 and over, can be getting more, everything gets a little sweeter as we go. Tim: Obviously, anyone that's doing two to five projects can get a little bit more, anyone doing over five could be doing more. Yeah, so your beginning investors gonna get roughly 80% loan to cost combination purchase to renovations. You guys will not only give me money for the purchase, but you also get will give me money for the renovation. So let's say I've got a contract from a wholesaler at 400. Pace: Lol!!! - Okay, so 10 and a quarter is your interest rate before a loan to purchase. Tim: Okay, so I normally don't take calls with less than 400 people. Tim: Brand new investor, you're most likely not going to pay over 10%? Could be 10 and a quarter. And I just wanted to ask you guys, what is your typical rate and term for a new person just kind of starting out that might have a sponsor? Hey, I have you on a Zoom with about 377 students. (An actual call with Pace and Hard Money Lender Tim) I have to tell hard money lenders to leave me alone half the time. They're gonna figure out their way there. I don't have to beg a cockroach to come into my house. Hard money lenders are freaking everywhere. So when people are like, how do I qualify for a hard money lender? Guys, how do you invite a cockroach into your house? You blink your eyes and they're there. ![]() Okay, when one fails, call another, there are about 1000 of them. We use Capital Fund 1 here locally, so I'm gonna give them a call right now. I use a company called Capital Fund 1, they’re prevalent. Hard money is for suckers! Commercial hard money lenders loan up to $3 million. Listen to me, I am answering the time-old question of how everybody buys properties in fixing and flipping with no money out of their pocket.
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