Episode 298: How To Fund Renovations with Larry Baszynski and Scott Hodgden

Larry Baszynski and Scott Hodgden of Finance of America Commercial are seasoned lenders who have helped their investor clients build tremendous real estate portfolios and wealth.  Larry and Scott discuss the products that their company offers including Fix and Flip loans, Construction Loans, and Long-Term loans for stabilized properties. They share common pitfalls and root causes of failed renovation projects. The duo explains how hard money loans are underwritten and what a borrower needs to know to set themselves up for a successful loan! This show is full of golden nuggets with emphasis on the importance of building your team and buying your next investment property sooner! If you enjoy today's episode, please leave us a review and share with someone who may also find value in this content! Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: [email protected] Guest: Larry Baszynski and Scott Hodgden, Finance of America Commercial Link: The Success System That Never Fails (Book Recommendation) Link: SUCI Ep 79 - Gary Davidson Link: SUCI Ep 50 - Andrew Holmes ----------------- Guest Questions 02:57 Housing Provider Tip - Ensure windows are properly caulked to prevent leaks! 04:34 Intro to our guest, Larry and Scott! 13:41 FOA Commercials' transition after being bought out.  15:06 FOA Commercials' products. 18:57 DSCR loans for stabilized properties. 25:44 Common causes of failed investments! 29:03 How interest rates are impacting lending! 35:25 Where are hard money funds sourced from? 36:49 Taking back a property on a failed project. 40:53 How aggressive can FOA Commercial get? 44:18 What happens if interest rates hit 10%? 46:02 What is your competitive advantage? 46:43 One piece of advice for new investors. 47:57 What do you do for fun? 48:23 Good book, podcast, or self development activity that you would recommend?  49:33 Local Network Recommendation?  51:00 How can the listeners learn more about you and provide value to you? ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2024.