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Additional funding needed in Washington DC

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Negotiate

Description

I flip residential and lower end commercial properties in the Washington DC area. Because of the incredibly steady and desirable residential market, not to mention the influx of people moving in and moving out, I find that I tend to do more residential because of the predictability. (See attached statics)

I usually have enough of my own money for acquisition of these properties, but I often run short on the rehab expenses. My primary lending source for the majority of my career has passed on and my back-up lender is not quite adequate. Currently I am in the middle of two projects and I am running out of cash fast.

The general hold time is between 2 weeks to 3 months, with the exception of commercial properties that can take longer. I am the hub of what I do and to not have business partners or other liabilities. I have a good team consisting of an Architect, Interior design firm, Asset protection and Estate Attorney, Regulatory Attorney, Construction Crew, two personal real estate agents and administrator. We have one of the best working systems I have ever had in my time with real estate. My immediate problem is funding for ancillary charges that I cannot handle myself.

Ideally, i'd like to find an individual to work with. Real estate is a career for me and my team is a big part of my success. Most of them I have worked with for years, with the exception of my interior design person, and I think our success comes from out closeness and because we all talk amongst ourselves about pretty much everything. My fear is that a corporation will take the personally out of borrowing and could offer liabilities.

I have been in this field for some time now and I have always had the benefit of private money, so my request for a private lender v. a corporate lending institution is without the benefit of experience using a commercial lender.

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