My Hard Money Blog

Pottstown Commercial Property

firstman2006 — Fri, 03 Jul 2009 18:45:15 +0000

I just created a new blog for a friend which is about Pottstown Commercial Property and was created initially to sell the warehouse that my friends business had been in prior to his selling it several years ago.

The property is located at 163 Fricks Locks Road in Pottstown Pa. Check out the post located at the link for the details about the Pottstown property.

In addition to creating the blog, I also created a Twitter account for the site, and will be doing a bit of blogging and link building to promote it.

This Pottstown property would make a great piece of investment real estate..serious investors will love this property which has tons of commercial potential.

Allentown Real Estate

firstman2006 — Fri, 03 Jul 2009 18:32:43 +0000

I just got accepted into a business referral group. One of the members Tom Roth is a realtor of who specializes in commercial real estate in the areas from Allentown to Hamburg Pa or both Berks and Lehigh counties.

Therothscare.com is the business website for both Tom and his wife who are partner realtors. Therothscare.com has a lot of great listings that include both residential listings and commercial listings in the areas mentioned above.

If you are in looking for a piece of property in the Berks or Lehigh areas, please look up Tom and his wife as they are Allentown realtors that have an awesome reputation.

Greatest Real Estate Agent in the World

firstman2006 — Fri, 22 Feb 2008 20:12:42 +0000

The Greatest Real Estate Agent in the World is a good title for a post that is long in coming. I just realized that I last posted in August. A lot has happened since August.

Well the reason for this blog was because I had a client with several websites that were hard money related sites. (See side bar) That is no longer the case, and you could say this blog is up for grabs. Any takers?

Anyways, Newhomessection.com is involved in an SEO contest and they want to rank for The Greatest Real Estate Agent in the world. So I thought I would write a little post on this blog, since it is a real estate related site.

I really don’t know if the people at Newhomessection are the greatest real estate agent in the world, but they do have a really beauteous real estate site which serves the Arizona and California real estate markets.

If you are looking for some real estate in that kneck of the woods, check out their site and see if they have any info that could help you out with your real estate quest.

A House being Flipped

firstman2006 — Thu, 02 Aug 2007 19:46:11 +0000

A house is being flipped just two doors down from Lizzie’s. A young couple had lived in the place with one young son. One day we noticed a truck that was unloading a bunch of the furnishings. Quick as that, they moved to the other side of town. The guys who are flipping the house have been working on the place for the better part of three weeks, and on the weekends for extended periods of time, that usually start early in the morning and end late at night.

Last night Lizzie and her friend were talking to them and they said it would be done being remodeled by next Tuesday. I guess they added a bit of time on. I had talked to one of the guys last week and he was saying they were hoping to get it done by this coming weekend. What’s a couple of extra days. Just a couple of thousand dollars(hopefully not more).

Well we will be watching and antipating the outcome of this flip. We are hoping they make a bundle, because that will help us out when we eventually decide to sell Lizzies place.

Want to Flip This Diamond in the Rough

firstman2006 — Wed, 01 Aug 2007 19:43:55 +0000

Lizzie and I were out checking houses with her parents today. We saw two houses, the second of which was the better of the two, with a huge yard, a fully landscaped swimming pool, and a finished a basement. However, the first one was really the diamond in the rough that really interested Lizzie and I both.

The diamond in the rough is seen to the left. It is a 5 bedroom ranch, with an in ground pool, sunroom, and two and a half baths all on 1.71 acres of land. The landscaping of the diamond has been badly neglected. In front of the house is what is left of an island that looks like it might have been really nice. Over grown, and badly pruined, the island needs to be redone entirely. The other landscaping of the house is in similar condition. Around the island there was once a turnaround, but is now well over grown with grass. In addition to the lack of landscape maintenance, their is a lot of trash around the outside that should also be picked up.

The inside has a groovy lay out, but is really in need of some paint. The bright colors of bedrooms served make them seem very small. The hardwood laminate flooring of the dining room and kitchen should also be replaced. Off of the dining room is a sunroom that is currently serving as an office. The downstairs has two nice sized bedrooms, a half bath, and a bar. There is also access to the pool via a sliding glass door that leads to a nice paver patio from the basement.

They are asking 299,900 for this little gem. I would think about offering 250,000 because it is in need of so much work, and similar houses in the area are going for well over 300,000. Not nearly as bad as the house I wrote about in one of my last Flipping houses posts, but still it is in need of some TLC, in order to make this house a real treasure.

Flipping Beach Houses

firstman2006 — Wed, 13 Jun 2007 20:01:29 +0000

We were recently at the beach, Salvo, NC to be more specific, and talked with Eddie of Sun Realty about the proposition of buying some real estate at the beach. Lizzie and I got lots of info from Eddie, but at the current time we are not going to be investing in a piece of property at the beach.

Eddie’s advice, which was very doable, was that we look at building a new beach house, because in ten years when we would be ready to retire, if we had purchased an older property, it would be really really old by time we were ready to retire. Who want to retire to a house that needs to be fixed up.

	While were there we noticed quite a few distressed properties that might make decent prospects for flipping. This property is a house that Lizzie actually rented several years ago.
Here is a darker house that was actually for sale while were down in Salvo, NC. It is on the beach side of rt 12 across from Wind Over Waves, which is the community that our beach house was located.
	Our remarkable Salvo Rental that we were upgraded to. We originally were scheduled for a place similar to the two above, but due to a scheduling conflict we were upgraded to this sound side property.

Check out all of my OBX Pictures and my Real Estate photo sets.

If you are in the market for some beach property, check out Eddie and Sun Realty and see if they can help you out. Who knows, maybe if we find some private money to invest with us, maybe you will see us down in Salvo enjoying the beach.

Flip This House

firstman2006 — Fri, 23 Feb 2007 16:41:48 +0000

Flip this house, which is located near the Coventry Mall. Quite a travisty. It has been for sale for quite a long time. Not sure I would be up to the challenge. But it does have a decent location.

Update: noticed the for sale sign is not up, but it might have just got knocked down. Will update if I notice any improvements in this potential flipping property.

Hard Money Loan Info

firstman2006 — Fri, 08 Dec 2006 23:50:10 +0000

I was just doing a search for hard money info and came across Wikipedia page on hard money. Some pretty indepth information here with section headings of hard money loan,

“Loan Structure“, “History“(of hard money), “Cross Collateralizing a Hard Money Loan“, “Commercial Hard Money“, “Legal & Regulatory Issues“, “Commercial Lending Industry“, “Hard Money Rate” which deals with the interest and points.

Quite a bit of information for me to digest at the moment, so I will have to go back and digest when I can. Perhaps hard money info on the page is a bit too technical for me. Perhaps for the general public at that. The information for the wikipedia article was provided by Avatarfinancial. I would give them a link, but they are huge in the industry so it would be a waste of a good link.

Private Money Info

firstman2006 — Fri, 01 Dec 2006 15:16:44 +0000

I am a little clearer on the definition about “private money” since I first started this blog. Private money is a still considered a type of hard money. However, a hard money loan that is made with “private money” is money that is loaned out to a person who would like to buy a piece of real estate as a hard money loan, but not made by a financial organization such as a mortgage company or a bank. There are people or groups of investors out there that look for situations to invest their funds in order to get a nice return on their investment. A private hard money lender, as with a hard money loan that is made from a financial organization, will also have conditions for repayment of the loan.

So I am out jogging one fine day on a street in my neighborhood or an nearby neighborhood, when I notice a guy put out a for sale sign on a piece of property that is a bit run down, and not looking quite as nice as the other houses in the neighborhood. So I stop and talk with the guy, whose name is Bob. Bob has to sell it really quick due to some extenuating circumstances. This would be a perfect opportunity for someone who would like to purchase a house to do a little cosmetic work and then flip the house as a real estate investment.

I am not an established real estate investor and do not have an established line of credit for Hard Money loans, so where do I go? Finding a private money investor who is willing to do a hard money loan would be my goal. Where do I go? The best place I could think to connect with to gain access to a private hard money lender would be the site Rehabhardmoney.com , which is a site that not only has “information for those seeking a hard money loan”, but it also has “information for those interested in becoming a hard money lender”. This site is the sister site for the webs premier flipping houses information site Rehablist.com, which has been dealing with hard money lenders for well over a decade.

Apparently the first hard money loan is the “hardest” to get and may take a little more time once established. A loan can be made once pre-qualified in as short as two days, but up to 7 days. Subsequent hard money loans would then have a shorter approval time because of a pre-established lending relationship that is established with the first loan.

Visit the above sites for more information about getting a private hard money loan. If you know of any other sites that deal with privat money loans or if my private money information needs adjusting, please leave a comment.

Collateral for Hard Money

firstman2006 — Thu, 26 Oct 2006 18:01:46 +0000

So I have a property I want to buy (hypothetically)that really could be a great investment. Fixing it up and selling it would be a way to make a great profit. Where do I get the money to not only buy the property, but to also implement the improvements so that I can sell it? Does all the money for this project come from the Hard Money Loan, and am I using the property as the collarteral for the Hard Money loan? Is that how the theory works? All good questions which my research will hopefully answer.