InvestFourMore Real Estate Podcast
About This Show
The InvestFourMore Real Estate Podcast is hosted by Mark Ferguson, a successful real estate agent and investor. Mark owns 16 rentals, flips 10 to 15 homes a year, and runs a real estate sales team of ten. Mark also created Investfourmore.com, a real estate blog that gives advice and chronicles his investing.
On the podcast Mark interviews successful investors, successful agents, and many other people who are in the real estate business. Mark also does solo shows where he goes in-depth on his own real estate investing and strategies like switching his focus from Colorado for rental properties to Florida. Mark also interviews new and beginning investors. This practice allows a new investor to get direct advice on how to get started, how to overcome roadblocks and helps the listeners as well.
Mark has been featured on the Washington Post, Time, Yahoo, Zillow, Realtor.com, Huffington Post, and many more major media outlets. Mark has written multiple best-selling paperback and Kindle books and loves hearing from his listeners and readers.
Most Recent Episode
119 Hard Money Loans for Fix and Flips with Ben Shaevitz
3 days ago
I have gotten two hard money loans in my 16 year career as a real estate investor. Both of those loans I obtained this year from Ben Shaevitz with Patch of Land. I shy away from hard money loans because of the high rates, hoops you must jump through, and length of time it can take to get the loan. However, I worked with Patch of Land because they were able to eliminate many of those difficulties. The thing that really helped me out was they did not require a full appraisal to get the loan completed. Not only did they lend to me without an appraisal, they were able to complete one loan in less than a week, which helped me get a deal I may not have been able to get otherwise. On this episode of the InvestFourMore Real Estate Podcast I talk with Ben about Patch of Land, how how he got started in the business, and why I decided to finally use hard money. Why did I decide to use a hard money loan over other financing? I have never used hard money before this year. I have a number of financing options including local banks, private money, and my own money. The rates on my fix and flip loans from local banks are under 5 percent, but I have to put 20 percent down and pay for all the repairs out of my pocket. I love private money because it involves sending a text to my buddy that asks if he wants to loan on a certain house, and he usually responds yes in about 10 minutes. Private money is more expensive in the 10 percent range. In the past hard money loans had even higher interest rates, but they have come down significantly. I have gotten two hard money loans with rates under 9 percent and with less than three points. Even with rates getting lower on hard money, almost all hard money lenders require a full appraisal to be down before they will lend on a house. In Colorado it was taking up to three weeks to get an appraisal, and most deals I get need to close in three weeks or less. I ended up meeting Ben Shaevitz at a real estate conference, and became very interested when he mention they would do hard money loans without an appraisal! I did one loan with him earlier this year on a wholesaler deal I found. I did another loan with him on a deal last month when I had to close in five days. I had a seller who had listed their home on the MLS, I made an offer, but the selle