Guest:
Chad Chiniquy
Founder of IMC Money, Chad has been a real estate investor and hard money lender since 1993. With over $3.5 billion funded in real estate transactions, he specializes in providing straightforward lending solutions for fix-and-flip and buy-and-hold investors. Based in San Diego, Chad balances his successful business with family life.

Episode Highlights

Introduction and Chad's Background

• Born in Southern California in the late 1960s, one of 14 children. 🌴👨‍👩‍👧‍👦
• Attended BYU, studied communications and business, and began working for a real estate consulting firm. 🏢📚
• Dropped out of school to pursue real estate full-time, founding IMC Money in 1993. 🚀
• Funded over $3.5 billion in real estate transactions, continuing to flip houses and lend money for real estate deals. 💰📈

Starting in Real Estate

• Inspired by late-night infomercials, Chad joined Dave Del Dotto's sales team. 📺💼
• Began flipping houses on the side while working, eventually quitting to focus on real estate full-time. 🏠🔄
• Learned the mortgage business from the ground up, founding IMC Money to address financing challenges for investors. 💵🏢

Business Purpose Lending

• Simplified Loan Process:
  • Provides 90% of the purchase price and 100% of the rehab for fix-and-flip projects. 🛠️💸
  • Business-to-business loans using real estate as collateral. 🏠🔒
  • No W-2s, pay stubs, or income verification required. 📑❌
• Fix-and-Flip Financing:
  • Minimum loan amount: $100,000, Maximum: $2.5 million for first-time investors, up to $10 million for experienced investors. 💵📊
  • Operates on a reimbursement model for rehab costs, ensuring investors have the necessary funds throughout their projects. 🔄💰
• Loan Terms and Interest Rates:
  • Competitive interest rates ranging from 7% to 12% based on investor experience. 📈💼
  • Terms typically range from 5 to 10 years, with options for 30-year amortization. 📆🏢

Real Estate Transaction Discussion

• Collateral and Security:
  • Hard money loans secured by placing a lien on the property. 🏠🔒
  • No federal guidelines involved; strictly business-to-business lending. 🏢🏠
• Loan Requirements and Qualifications:
  • 90% of the purchase price covered, 100% of the rehab costs. 🛠️💸
  • Maximum loan amount depends on ARV, with a focus on deals having at least a 30% gross profit margin. 📊📋

Moonlight Coaching Questions

• Balancing Business and Life:
  • Emphasizes spending leisure time with family and enjoying life outside of work. 🌅👨‍👩‍👧‍👦
  • Continuous learning and strategic planning for long-term success. 📚🔄
• Understanding Loan Metrics:
  • Important metrics include ARV, ROI, and exit strategy. 📈🔍
  • Uses appraisals and inspections to ensure property value and protect all parties involved. 🏠🔍

Connect with Chad:

• Website: IMC Money 🌐
• Email: [email protected] 📧
• TikTok: Flipping Today 🎥
• Facebook Group: Flipping Today with 135,000 members 📱
  
  Website: https://ericlindseyml.com/
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