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Hello CFD Community,
My name is Conor Hanlon and I am an aspiring real estate professional using creative financing techniques. In my day job, I am your traditional mortgage lender. I came across some unique deal structures lately and I became very interested to learn more. I often see deals that fall apart due to traditional financing guidelines, and believe some of the resources in this community would be very valuable. Ultimately, I love the idea of seller financing and these “outside the box” strategies to build wealth and create win- win relationships.
In my free time, I enjoy playing sports, living an active lifestyle, and making the most out of each day. I originally grew up in CT, but have lived in Delray Beach, FL (Palm Beach county) for the last 8.5 years. My goal for 2024 is to close one real estate transaction with a creative financing strategy. I look forward to learning and participating with you all.
Hi Don!
Lately I have been seeing the need for hard money deals. A lot of people taking on projects for 12-18 months/ flips that need hard money. I also have a guy looking to get out of hard money loans, which will likely go a DSCR route.
A big issue in South FL is condo financing. A lot of the times the HOA will not qualify for conventional financing. In some cases the current owner has been willing to seller finance.
Do you have any niches you are looking to get involved in? If you’d like, we can setup a call and chat some more.
Thanks for reaching out,
Hi Conor,
All I am doing now is tending to my rentals and looking at individual deals locally that cross my way. If a deal comes my way out side of my market I typically will spin it off to someone that is more local to the deal. Sorry if I could not be of any help. You can bounce ideas off me always.Hi Don,
This just came across my desk- curious of your 2 cents.
Client owns a condo in Oakland Park, FL. Current loan balance is 228k. There is a 45k assessment from the HOA due to concrete restoration/ other maintenance items. Client also has a 17k lien for impact windows. The estimated value is $340k (per my client, so probably more like $310k actual).
He hasn’t made payments on the 45k assessment and the association is about to begin the foreclosure process. He currently has a 3.8% interest rate on this property.
He is looking for a solution to payoff the 45k assessment and 17k window loan. I am looking into HELOC options, but with these numbers it will be very tight.
How would you approach this, possibly in a more creative way than I am thinking?
Thank you,
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