Check out this cozy little hold-and-rent property our client purchased Greeley, Colorado! This deal was funded using a Hard Money Mike loan.
We love seeing our clients’ success stories and look forward to checking in on the progress with their investments.
Ready to fund your own investment property deal? Chances are good that we can help!
Hard Money Mike is a lender based in Colorado. We regularly lend money on all types of commercial-based properties. So whether you have your eye on a potential fix-and-flip, vacant land, whole tailing, or a builder bridge loans, we’re happy to help make your investment property dreams come true.
We even lend on deals in several states outside of Colorado, so don’t let our location stop you from achieving your investment goals. If we’re not yet lending in your state, we’re still happy to discuss your numbers and plans with you to make sure you’re on the right track.
In the market for a property in the single-family or commercial sector? Our sister company The Cash Flow Mortgage Company funds investor loans on those, too! We’ve got a lending solution to most investment opportunities, so let’s get you on the path to investment property greatness.
Questions or just need help deciphering your numbers? Feel free to reach out!
Hard Money Mike 303-539-3000
*All non-commercial and construction loans offered by TNS Loans NMLS #1719349
Check out these inspiring Before-and- After property transformation photos! These pics come courtesy of one of our clients’ fix-and-flip projects in Canal Winchester, OH!
When you go through Hard Money Mike, you can count on a hassle-free process for rehab projects like this one. Hard Money Mike is a lender based in Colorado, lending money to several states, including Ohio. We regularly lend money on all types of commercial based properties: fix and flip, land, whole tailing, and bridge loans. So regardless of what type of property transformation you’re trying to achieve, chances are, we can help you fund the deal!
Call Mike Bonn at 303-539-3000 or email Mike@HardMoneyMike.com
*All non-commercial and construction loans offered by TNS Loans NMLS #1719349*
We might be based in Colorado, but that doesn’t mean that as our client you have to miss out on deals in other states! In fact, Hard Money Mike lends on properties in several states, like with this Texas fix-and-flip!
Texas fix-and-flip deal
We love seeing our clients crush their investment goals, even from afar! Take, for instance, this Texas fix-and-flip property purchased by one of our clients. We were able to fund this deal in a week.
Yes, you read that right.
Investors and wholesalers alike will find the short-term loan process at Hard Money Mike quick and easy. We pride ourselves on making it easier to get the cash flow you need for quick property purchases. Who wants to wait around when they’re trying to close a deal and add to their investment portfolio?
In other words, we want to help you make more money even faster!
Hard Money Mike is a lender based in Colorado, lending money on all types of commercial based properties: fix and flip, land, whole tailing, and builder bridge loans.
Have your eyes set on an investment property on the single-family or commercial building side? The Cash Flow Mortgage Company funds investor loans on properties in both of these categories. Long story short: whatever deal you’re trying to fund, chances are, we can help you get it done!
Give us a call:
Hard Money Mike 303-539-3000
*All non-commercial and construction loans offered by TNS Loans NMLS #1719349
How much money might a lackluster credit score be costing you over the life of your investment business?
You probably hear a lot of talk in the mortgage industry about your credit score and the effect it can have on your interest rates, but do you really have an idea of how much it’s affecting your bottom dollar?
Do you know how to determine your Return on Credit (ROC)?
Can you crunch the numbers to figure out how much your score is helping your cash-flow (or how much money it’s sucking out every month?)
These calculations can get complicated, but the takeaway here is that a less-than-stellar score can really be costing your tens of thousands of dollars over the lifetime of your loan. And when your loan is on an investment property, (or several,) you may as well be lighting your profits on fire.
We want to help! Contact our team so we can help you see where you’re currently at, and where you could be going instead.
Let’s get you to your goals faster by trimming some of the fat from your financing!
Hard Money Mike is a lender based in Colorado offering services in several states. We lend money for all varieties of commercial-based properties. So whether you’re trying to finance a fix-and-flip, vacant land, whole-tailing, or looking for a builder bridge loan, we’ve got you covered.
Call Mike Bonn at: 303-539-3000 or email Mike@HardMoneyMike.com
*All non-commercial and construction loans offered by TNS Loans NMLS #1719349
https://thecashflowmortgagecompany.com/wp-content/uploads/2020/06/jp-valery-mQTTDA_kY_8-unsplash-scaled.jpg17072560Mike Bhttps://thecashflowmortgagecompany.com/wp-content/uploads/2021/03/TheCashFlowMortageCompany-logo.svgMike B2020-06-08 09:55:222020-06-11 10:55:59What’s the Cost of Your Credit Score?
We’re so impressed with this Multi-Unit Fix-and-Flip in Ohio!
While we’ve seen a good share of motivating investor inspo over the past few weeks, we never get tired of seeing the incredible transformations from our clients. Check out these awesome Before-and-After photos of a multi-unit fix-and-flip from one of our clients in Columbus, Ohio!
While seeing these awesome before-and-afters is certainly inspiring, it also requires some cash to pull off similar results. If you’re looking for ways to fund your future fix-and-flips, we have a solution for you!
Hard Money Mike is a lender based in Colorado. We lend money on all types of commercial-based properties. So whether your dream deal is a fix-and-flip, vacant land, whole-tailing, or requires a builder bridge loan, we’ve got you covered. We offer services in several states, including Ohio.
Call Mike Bonn at: 303-539-3000 or email Mike@HardMoneyMike.com
*All non-commercial and construction loans offered by TNS Loans NMLS #1719349
Thankfully, it’s looking like another great week for standard conventional mortgage rates.
So far this week, all evidence is pointing towards increasing stability and improvements on the conventional mortgage front.
Depending on whether you pay your mortgage person points or you have them wrapped into your loan, rates fluctuate between low 3’s and low 4’s.
We’re seeing great rates on the conforming side.
Every week, the non-traditional loans are reappearing with increased frequency.
Some lenders have decreased credit score requirements to 680.
Rates are still on average above 7%, but signs are showing that they will drop soon.
LTVs are inching higher, but not to the degree we have seen them in the past.
In short: conventional mortgage interest rates are really good. But what does that mean for you?
How do you know when it’s smart to refinance your rental (or any) property?
Let’s face it: as rates drop, the question of whether or not to refinance runs through all our minds.
Would you like to find out (without the sales pitch from your mortgage person?)
Anyone can crunch the numbers in just a few minutes with just a few items.
Yes. It involves math. But we swear it’s EASY.
For now, all you need is a piece a paper, a pen, a calculator, and your mortgage information. (You can pull this info directly from your mortgage company’s website). Then, follow these three steps:
Step 1: Locate the amount you pay monthly for principal and interest. (Ignore everything but your principal and interest (i.e. taxes and insurance).
Step 2: Locate the number of months remaining on your loan.
Step 3: Multiply your monthly payment by the number of months you have left on your loan.
That’s it!
Let’s look at an example:
A: Your monthly principal and interest payment is $1,200.
B: You have 288 payments left on your loan.
C: $1,200.00 X 288 = $345,600
(Scary sometimes to see how much you really owe, isn’t it? Don’t panic.)
Now, let’s say that you have an opportunity to refinance and lower your interest rate with a new payment of $1,100. Should you do it?
Let’s take a look:
On your new loan, you’d pay $1,100.00 for 30 years (or 360 months). That’s $1,100.00 x 360 = $396,000.00
If you refinance, you’d increase your monthly cash flow $100.00. However, as a result, you’d pay an extra $50,400.00 over the life of your loan!
So, is the extra $100/month worth an extra 72 months (6 years) of mortgage payments? Does refinancing make sense for you financially? Well, that’s up to you.
Perhaps cash flow is more important at this time in your business life and paying the extra years is ok with you. That’s a decision only you can make. At least when you know all the numbers, you can make your call an educated one.
Try it on all your loans and find out what makes sense for you!
Your payments __________________ Months remaining _______________
Total remaining to be paid ___________________
Okay, we’re sure a few questions are swimming around in your head, so we’ll see if we can answer some of the most common ones upfront:
Q: “What if I’m not going to keep the property for 24 or 30 years? At what point does it make sense to refinance?”
A: That’s coming up in the next article.
Q: “What if I want to use those savings and pay down my mortgage?”
A: We’ll be addressing that in a future article as well.
Q: “What is my breakeven interest rate?”
A: There are so many paths you can go down and we’ll cover as many as we can. We’ll also provide a tool for you to run all these scenarios.
Today, it’s all about knowing your raw numbers.
Want an investor tool that can run these numbers (plus your breakeven rate and many more) in seconds? We have one in the works. Just get on our contact list, and we’ll let you know when it’s ready!
By knowing these numbers, you can save tens of thousands on each refinance.
Don’t feel like doing this or worry the math might overwhelm you? No worries! Shoot us an email with your current statement and we can run them for you.
*All non-commercial and construction loans offered by TNS Loans NMLS #1719349
Nobody does fix-and-flip curb appeal like these Dallas clients.
Check out these amazing Before-and-After photos of this Dallas Fix-and-Flip!
These clients did an amazing job transforming this living room into a much more liveable space.
From dark and cave-like, to light and inviting, this bedroom looks pretty dreamy to us!
From cluttered to cool, this kitchen got a pretty serious glow-up.
Not even the bathroom escaped noticed in this impeccable flip!
We’re still in awe of this amazing fix-and-flip investment deal from our Dallas area clients. A little imagination and some investment capital can go a long way towards transforming a haggard house into an updated future home!
We never tire of watching our clients change the face of their neighborhoods in a positive way. This property is a shining example of what the real estate investing community is all about: improving a neighborhood and enjoying a profitable rehab!
Looking for a hard money loan to fund your own flip? Look no further.
How do you take the guesswork out of getting your deals funded for rehab projects like this one? Simple: By partnering with Hard Money Mike.
Hard Money Mike is a lender based in Colorado. We offer a large pool of lenders so we can be sure to find the right fit for your project. We regularly lend money for all types of commercial-based properties. So whether your project is a fix-and-flip, land, whole-tailing, or a builder bridge loan, we have you covered.
If this flip has you feeling inspired, we want to know about it! Contact Mike Bonn at 303-539-3000 or email Mike@HardMoneyMike.com to start exploring your lending options!
This week, we see even more positive progress, such as lenders expanding the LTVs up to 70% on their investor cash flow loans (based on credit score and lease.)
A return to business-as-usual won’t happen overnight, of course. The lower credit scores and higher LTVs will more than likely take some additional time to return to their pre-COVID closure state. Lenders will want more data on the unemployment and rental payment front before expanding.
Rates in the standard-conforming market are coming down. For investors, 30-year rates are in the mid 3’s for purchases and no cash-out refinances. Cash-out refinances are still a big challenge for investors, and will more than likely continue to be so for the next few months.
Expect to find the expanded requirements (up to 6 months reserves for each property) to be in place with underwriters through the end of the year.
*All non-commercial and construction loans offered by TNS Loans NMLS #1719349
Non-Conventional Mortgage Loans Are Making a Comeback…
Non-conventional mortgage loans are getting funded again.
What We Know:
Finally, we’re seeing an influx of non-conventional mortgage loans being funded. Hopefully, this positive change is bringing some relief to both investors and their buyers who don’t fit neatly into the conventional mortgage lending box.
Mortgage loans in this lending bucket typically do not require tax returns but rely on bank statements or leases for income.
Even though some are back, requirements for securing these loans have increased and are a little harder to obtain. The majority of the lenders have a starting point of a max 65% LTV and a credit score of 700+. The good news is the rates have not skyrocketed. There are now lenders lending who had previously been turning away would-be investors.
There’s a light at the end of the lending tunnel again.
The Takeaway:
We are on the road to lending opening back up. The economic restrictions and resulting uncertainty appear to be lessening. Apparently, to the point where lenders are feeling confident enough to begin closing riskier deals again.
Make no mistake, it will be a slow process. But there appears to be a light at the end of the COVID lending tunnel. Stay tuned as we provide continuing outlook updates over the course of the coming weeks.
In the meantime, if you’d like to review your financing options for investment properties, feel free to reach out! We’re always happy to run your numbers with you.
*All non-commercial and construction loans offered by TNS Loans NMLS #1719349
Be a real estate investment power player by harnessing the power of OPM funding.
You don’t have to be a bench warmer in the real estate investment world. Transform yourself into a power player!
It’s easy to think that with the COVID-19 shutdowns, stay-at-home orders, and lasting economic uncertainty that now is an okay time to sit idle and just see what happens in the real estate investment world.
And that would be your first mistake.
By many standards, there’s never been a better time to go all-in for your real estate investment business. Mortgage rates are low, making previously out-of-reach properties insanely affordable. Showings are still under a good deal of restrictions and safety precautions. But this just means the buyer pool is limited to the extremely serious. Great news for fix-and-flip investors looking to turn a quick profit!
It’s true, the banks have been saying no, but that doesn’t mean the game is over. We’re here to tell you that there are other ways to play besides begging the banks to fund your deals.
Put your future in your hands: Make the switch to OPM (Other People’s Money) funding and stop waiting on the bank. When the deals start popping up (and they will,) you’ll be able to buy the properties you want when you want, and for what you want to pay.
Instead of sitting on the bench, you can be actively working to build that dream life, even in times of uncertainty.
Questions on how to go about making this transition? Luckily for you, we’re hosting an Intro to OPM Webinar where we’ll be covering all the critical details of how to make this crucial switch for your investment business!
https://thecashflowmortgagecompany.com/wp-content/uploads/2020/05/xan-griffin-eA2t5EvcxU4-unsplash-scaled.jpg17082560Mike Bhttps://thecashflowmortgagecompany.com/wp-content/uploads/2021/03/TheCashFlowMortageCompany-logo.svgMike B2020-05-18 09:23:552020-05-18 09:23:55Don’t Sideline Your Investment Game
We may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website.
Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.
Essential Website Cookies
These cookies are strictly necessary to provide you with services available through our website and to use some of its features.
Because these cookies are strictly necessary to deliver the website, refusing them will have impact how our site functions. You always can block or delete cookies by changing your browser settings and force blocking all cookies on this website. But this will always prompt you to accept/refuse cookies when revisiting our site.
We fully respect if you want to refuse cookies but to avoid asking you again and again kindly allow us to store a cookie for that. You are free to opt out any time or opt in for other cookies to get a better experience. If you refuse cookies we will remove all set cookies in our domain.
We provide you with a list of stored cookies on your computer in our domain so you can check what we stored. Due to security reasons we are not able to show or modify cookies from other domains. You can check these in your browser security settings.
Other external services
We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.
Google Webfont Settings:
Google Map Settings:
Google reCaptcha Settings:
Vimeo and Youtube video embeds:
Privacy Policy
You can read about our cookies and privacy settings in detail on our Privacy Policy Page.