BiggerPockets Real Estate Podcast

BiggerPockets Podcast 132: How Brie Schmidt Grew Her Real Estate Portfolio by 50 Units in 1 Year

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Today on the BiggerPockets Podcast, we are excited to bring back Brie Schmidt, a real estate investor from the Chicago market who has absolutely DOMINATED her goals over the past twelve months. Last time we talked with Brie, she had just quit her job to pursue real estate full-time. Today you'll learn about the impact that decision made on her life and how she's been able to reach her financial goal in just twelve months, buying more than fifty new rental property units in that time! Be prepared to be blown away and inspired to do the same!

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In This Episode We Cover:

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  • Who Brie is and how she quit her job and went full time since the last show
  • The 3 catalysts that drove her to become a full time investor
  • How to incentivize in-house property management
  • Tips for making tenants happy
  • The story behind 50 units in one year
  • What kind of tenants she is looking for
  • How Brie handled her first eviction
  • What kind of properties she is investing in
  • Her average cost per door
  • The details of buying multiple units at a time and concerns you face with it
  • The mindset behind buying 50 units in a year
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Tweetable Topics:

  • “You bring up the level of the property to attract the kind of tenant that you want.” (Tweet This!)
  • “Property management could make or break your business.” (Tweet This!)

Connect with Brie

Real strategies that work for real people seeking to build wealth through real estate investments. Co-hosted by Brandon Turner and David Greene, this podcast provides actionable advice from investo...
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    Brie Schmidt
    Replied about 5 years ago
    Thanks for having me on again!
    Joshua Dorkin BiggerPockets Founder from Denver, CO
    Replied about 5 years ago
    Thank you for joining us. Great show.
    Darrell Campbell from Maywood, Illinois
    Replied over 4 years ago
    Where is Brie? Her page doesn’t come up. Love her podcast. Would love to connect with her..
    Darrell Campbell from Maywood, Illinois
    Replied over 4 years ago
    @brandon turner
    Brie Schmidt Real Estate Broker from Chicago, IL
    Replied over 4 years ago
    https://www.biggerpockets.com/users/chicagobrie
    Pat L. Real Estate Agent from bolingbrok, illinois
    Replied about 5 years ago
    Great Episode! Very insightful. Thank you guys
    Brie Schmidt
    Replied about 5 years ago
    Thank you!
    Dustin Kircher Flipper/Rehabber from San Diego, CA
    Replied about 5 years ago
    Brie, Thank you for all your insight. You had mentioned something about Jerry who was sending out a 1000 letters. Can give me a little more information on the company or what exactly you are sending out. Thank you again for the expertise you have shared!!
    Brie Schmidt
    Replied about 5 years ago
    I used Jerry Puckett ( https://www.biggerpockets.com/users/ejpuck ) to send out the letters. I just called him, gave him my target area and property type and he suggested what marketing materials to use based on that. I actually have 6 properties under contract right now from that mailing!
    Dustin Kircher Flipper/Rehabber from San Diego, CA
    Replied about 5 years ago
    Thank you so much!!
    Daniel I. Investor from Los Angeles, CA
    Replied about 5 years ago
    Nice job, Brie! Congrats again on the massive success thus far.
    Brie Schmidt
    Replied about 5 years ago
    Thanks Daniel! Congrats again on quitting your job and god luck on your move to LA
    Jonna Weber Real Estate Agent from Boise, ID
    Replied about 5 years ago
    Way to go, Brie! Excited for you and your future.
    Brie Schmidt
    Replied about 5 years ago
    Thanks Jonna!
    Jacob Stark Investor from Centennial, Colorado
    Replied about 5 years ago
    Great podcast Brie, Josh, and Brandon. This was highly informative and motivating! Brie, does your commercial lender require a 20% down payment or is that different since commercial?
    Brie Schmidt
    Replied about 5 years ago
    Yes, we still need 20% down for all purchases
    Clifford Pala from Mchenry, Illinois
    Replied about 5 years ago
    Excellent job Brie in representing all of us in Chicagoland !!! Your a great inspiration – you have my vote if you are ever asked to co-host with Josh and Brandon someday 😉 -see you at the next Chicago BP meetup ….
    Brie Schmidt
    Replied about 5 years ago
    Thanks for the support Cliff! See you soon!
    Jackson Maia Investor from Weatherford, Texas
    Replied about 5 years ago
    Thank you for sharing your experience. Just a quick question do you round up investors for down payments or do you use it from excess profits from last investments ?
    Brie Schmidt
    Replied about 5 years ago
    Currently everything is solely owned by my husband and I. We did a cash out refi in 2014 for the down payments, then borrowed money from my brother for the rest, and just paid him back by doing a HELOC. Next month I am closing on more properties and those are with partners.
    Ben G. Investor from Indianapolis, Indiana
    Replied about 5 years ago
    Really looking forward to hear this one. It’s always exciting to hear the progress BP members have made when they come back for another show on the podcast. I’m sure Brie is full of useful knowledge that we can all apply to our investment business.
    Brie Schmidt
    Replied about 5 years ago
    Thanks Ben! Hopefully you find it useful
    Ronald Perich Investor from Granite City, Illinois
    Replied about 5 years ago
    Must be kismet that I made a colleague request of Brie earlier this week! She’s been a great assistance and help to so many on BP and this podcast was just another example of that. I am really interested in hearing more about the way you drive positive behaviors with your property manager. Any chance you could put a few more details of your agreement out there? I’ve always thought that these PM agreements were written in the exact opposite way to drive good behavior. Why would any PM want a resident to stay past their lease if they get paid to fill the unit? When they get paid for late fee collections, doesn’t that just mean they won’t put into place practices to help drive on-time payments? When they get to mark-up every service call, won’t they be more apt to simply use duct-tape on the problem instead of fixing it right? I absolutely love your concept of rewarding good behaviors, Brie. I think you might have business idea #4 here!
    Ronald Perich Investor from Granite City, Illinois
    Replied about 5 years ago
    Must be kismet that I made a colleague request of Brie earlier this week! She’s been a great assistance and help to so many on BP and this podcast was just another example of that. I am really interested in hearing more about the way you drive positive behaviors with your property manager. Any chance you could put a few more details of your agreement out there? I’ve always thought that these PM agreements were written in the exact opposite way to drive good behavior. Why would any PM want a resident to stay past their lease if they get paid to fill the unit? When they get paid for late fee collections, doesn’t that just mean they won’t put into place practices to help drive on-time payments? When they get to mark-up every service call, won’t they be more apt to simply use duct-tape on the problem instead of fixing it right? I absolutely love your concept of rewarding good behaviors, Brie. I think you might have business idea #4 here!
    Brie Schmidt
    Replied about 5 years ago
    Thanks Ronald! Our PM contract is pretty standard. To be honest, we signed it last year and I don’t even remember what it said. To me it is all about how I manage the relationship. The vacancy bonus thing came to mind in March when it was 5 days before the end of the month and we had 4 vacancies. As I mentioned on the podcast, my PM was a teacher so this was a second job for him and he had a lot going on. I really wanted the vacancies filled for the next month and knew I was asking a lot from him with everything else we had going on. So I decided to offer a bonus to get the rented out for the first of the month. He worked his butt off and got 3 of them rented. It was then I took a hard look at my numbers and our portfolio performance. We approached my PM about working for us because he had such a good relationship with his tenants. So I thought he should get bonuses for keeping them, not replacing them. So I took 25% of my planned vacancy and offered it to him as a bonus, paid quarterly only if that unit had no loss of revenue. So if a tenant gives notice to move June 30th and he gets a tenant lined up for July 1 then he still gets the bonus. Or if the tenant stays and pays all quarter he gets the bonus. We just started in in Q2 and saw a 3% drop in our vacancy. I also treat him like a partner, and we have developed a great working relationship. At a minimum, I drive up there monthly to have dinner with him and we go through the previous month and where we are at this month. We also discuss both of our short term and long term goals. He knows where I want to be in the next year, 3 years, and 5 years. And I know where he wants to be. So we try to work on things together. Of the 51 units we bought in a year, 40 of them were bought in 6 months – so the takeover and adjustment has not been easy. Not only does the city come out when you buy property and give you a list of repairs that need to be made in 90 days, but we also inherit tenant issues. So when I knew he was working extremely hard to get things done, I send a thank you card and a bonus. This weekend we are throwing a thank you party for all of our workers who have been working like crazy to get our units up and running. Sometimes it is the little things.
    Link McGinnis Investor from Knoxville, Tennessee
    Replied about 5 years ago
    Brie (and others), you’ve grown your portfolio quickly over the past 6 months. Congratulations! I’m wondering; do you purchase all of your properties in your own name or do you use an LLC? I have 1 rental property and have personally borrowed against it (HELOC) in order to purchase a second property (still looking). So, far I’m working from only 1 personal checking account. So, I’m wondering if I should create an LLC and open a business checking account before moving forward or continue to work from my personal account. How would future bank support (ie loans) be affected by this decision? Thanks for all of your help!
    Brie Schmidt
    Replied about 5 years ago
    Everything in Chicago is in our name, everything in Milwaukee is in our LLC. It is mainly because of financing restrictions on the residential side of lending that require us to get commercial financing. And commercial loans have to be made to a LLC I would prefer residential financing (which cannot lend to a LLC) all day long, but you can only get up to 10 loans
    Joe T. from San Antonio, Texas
    Replied about 5 years ago
    The thing I don’t like about any of these stories is that they NEVER talk about how they made enough money for the down payment, they never talk about how financing all of these units is even possible. I just have the hardest time wrapping my head around this. Like how do I, go out and say I want to buy X amount of units when I only have enough of a down payment for 1 single family home? I really do not understand it. If someone could please tell me in DETAIL, I would appreciate it.
    Brie Schmidt
    Replied about 5 years ago
    Joe, My podcast last year https://www.biggerpockets.com/show78 outlines how I started up until I quit my job. This podcast was more of a catch up since the last one. I do outline step by step how I did everything on my blog http://www.chicagobrie.com but I have not updated it in awhile, it is on my to-do list. We started slow, in my first 3 years of investing I bought 3 properties. The third property we bought was really the catalyst, it was an estate sale that required rehab in a fantastic area. In 2 years it was valued $300k more than what we paid so we have used that money for downpayment on all this.
    Jon Klaus Developer from Garland, TX
    Replied about 5 years ago
    Great podcast Brie, Josh, and Brandon. Sounds like you are doing a great job in creating alignment with your property manager. As discussed, that is a huge problem in the industry. The idea of bonusing for tenant retention is innovative, have you heard of other people doing that with property managers, or did you come up with that on your own? I was also impressed that he has a day job as a teacher, and can still manage all your units. It shows that with systems and standards you can really pare the job down. Did you say what your average rent per unit is? Are you looking at going into larger complexes in the future? Congrats on your success!
    Brie Schmidt
    Replied about 5 years ago
    The vacancy bonus thing came to mind in March when it was 5 days before the end of the month and we had 4 vacancies. I really wanted the vacancies filled for the next month and knew I was asking a lot from my PM with everything else we had going on. So I decided to offer a bonus (we did not have lease up fees in our PM agreement) to get them rented out for the first of the month. He worked his butt off and got 3 of them rented. It was then I took a hard look at my numbers and our portfolio performance. We approached my PM about working for us because he had such a good relationship with his tenants. So I thought he should get bonuses for keeping them, not replacing them. So I took 25% of my planned vacancy and offered it to him as a bonus, paid quarterly only if that unit had no loss of revenue. So if a tenant gives notice to move June 30th and he gets a tenant lined up for July 1 then he still gets the bonus. Or if the tenant stays and pays all quarter he gets the bonus. We just started in in Q2 and saw a 3% drop in our vacancy. It has not been easy with him working two jobs. I do all the books and admin stuff because he is more important to me out in the field. Some balls were dropped so I don’t want to paint it as all sunshine and rainbows… and we have made a ton of adjustments along the way. Even though some of those things cost me money I still wouldn’t have done it differently. I might go bigger down the road, but right now it isn’t in the plans
    Brie Schmidt
    Replied about 5 years ago
    The vacancy bonus thing came to mind in March when it was 5 days before the end of the month and we had 4 vacancies. I really wanted the vacancies filled for the next month and knew I was asking a lot from my PM with everything else we had going on. So I decided to offer a bonus (we did not have lease up fees in our PM agreement) to get them rented out for the first of the month. He worked his butt off and got 3 of them rented. It was then I took a hard look at my numbers and our portfolio performance. We approached my PM about working for us because he had such a good relationship with his tenants. So I thought he should get bonuses for keeping them, not replacing them. So I took 25% of my planned vacancy and offered it to him as a bonus, paid quarterly only if that unit had no loss of revenue. So if a tenant gives notice to move June 30th and he gets a tenant lined up for July 1 then he still gets the bonus. Or if the tenant stays and pays all quarter he gets the bonus. We just started in in Q2 and saw a 3% drop in our vacancy. It has not been easy with him working two jobs. I do all the books and admin stuff because he is more important to me out in the field. Some balls were dropped so I don’t want to paint it as all sunshine and rainbows… and we have made a ton of adjustments along the way. Even though some of those things cost me money I still wouldn’t have done it differently. I might go bigger down the road, but right now it isn’t in the plans
    Rafael Norat Investor from Lodi, NJ
    Replied about 5 years ago
    Hey Brie! Great job and congrats on your current and future success! I didn’t hear anything on the finances behind your 50 unit run. Can you possibly elaborate on that a bit? Did you refinance from previous units to create the cash for your purchases? Did you by all cash or 20%? Thanks again for all the tips and best wishes!!
    Brie Schmidt
    Replied about 5 years ago
    Sure, we did pretty standard commercial financing with a 80% LTV and the down payment came from the equity/appreciation in Chicago.
    David Pedersen from Manhattan Beach, California
    Replied about 5 years ago
    I think what most investors getting started want to know is how to continue investing after you expend most of your money in your first property. For you it seemed fairly straight forward, as you were investing in what seems to be a lower income area of the country. However, alot of us are stuck in higher areas (Seattle/Tacoma for example). Even for a “fixer” duplex you are looking at 200k plus….. that’s over 50k down on a house that needs work….. I guess my point is that getting around the down payments in higher income/value areas is a big catch for a lot of people and I think what a lot of us want to hear about. I think most people can figure out how to grow their investments, but coming up with the capital in a high market is the hard part.
    Brie Schmidt
    Replied about 5 years ago
    You should listen to the first podcast then, show 78. My first properties cost $100k a unit and that is what I talked about, how I bought them and built that portfolio. I only started investing in a lower price point area last year.
    Julius
    Replied about 5 years ago
    I learned a lot this is my favorite guest because I live in Chicago
    Brie Schmidt
    Replied about 5 years ago
    Thanks Julius!
    Glenn McCrorey Investor from Cedar Rapids, Iowa
    Replied about 5 years ago
    I listened to your podcast while I was riding around on the mower cutting the grass. Thanks for making me feel like such a slacker. Enjoyed the podcast and insights. Thanks for sharing.
    Brie Schmidt
    Replied about 5 years ago
    Thanks for listening!
    Brie Schmidt
    Replied about 5 years ago
    Haha! Thanks for listening!
    Brie Schmidt
    Replied about 5 years ago
    Thanks for listening!
    Brie Schmidt
    Replied about 5 years ago
    Thanks for listening!
    Christian Bors Real Estate Agent from Camp Hill, Pennsylvania
    Replied about 5 years ago
    Great Show! I’m very glad Josh and brandon brought you back on. As far as the commercial lending on the properties in Milwaukee, what is the length of the amortization? I’m assuming banks will require a length of 20-25 years instead of the residential 30yr. Also, with the commercial financing, do you get 1 mortgage to cover say 20 properties or does each property have its own mortgaged valued at 80% LTV amortized over 20-30 years? How does that work exactly?
    Brie Schmidt
    Replied about 5 years ago
    Each property has it’s own loan, but they analyze the portfolio as a whole. The loan is a 25 year amortization with a 5 year balloon.
    Aj Saporito
    Replied about 5 years ago
    Great podcast Brie, hopefully by next year you’ll have over 100 units. Congratulations to your success! Must be that handwork work, late nights, sweat equity and Chicago Pizza!
    Brie Schmidt
    Replied about 5 years ago
    Thanks AJ! We should be at 100 by the end of this year. It has been a ton of work, yesterday I worked 10 hours doing 8 property inspections and then drove 2 hours home. But I love doing it!
    Brie Schmidt
    Replied about 5 years ago
    Thanks AJ! We should be at 100 by the end of this year. It has been a ton of work, yesterday I worked 10 hours doing 8 property inspections and then drove 2 hours home. But I love doing it!
    Carolyn Lorence Real Estate Agent from Round Rock, TX
    Replied about 5 years ago
    Another great podcast Brie! So impressed and inspired by your success – and in my home town market! Thanks for sharing so many new tips and strategies. Thinking I should leave Austin and head back to Milwaukee! 🙂
    Brie Schmidt
    Replied about 5 years ago
    Thanks Carolyn!
    Vincent Crane
    Replied about 5 years ago
    Brie, I just checked out your website and it’s so awesome. The stories of how you started is exactly like everyone I’ve met and talked to who’s made it really big in real estate. They live below their means and use their “buffer” between their income and expenses to get a down payment on a duplex, (sometimes with an FHA loan), live for free, continue to save the money they were before, plus their rent that they’re not paying, then use that to buy their first “investment property” and reinvest the cashflow from that to buy the next one, sometimes rehabbing the houses to add some value and maybe do a cash-out refi, and then the portfolio grows faster and faster as you keep reinvesting it. And then the people who said they only planned to buy maybe 2 houses a year… have scaled so quickly from the compounding income that they start acquiring 5, 10, 20, 50 units in one year and create an empire. I love your story, thanks so much for sharing 🙂
    Brie Schmidt
    Replied about 5 years ago
    Thank you! You are exactly right, 4 years ago we were not thinking of owning more than one property and then things snowballed and every year we surpass what we thought would be 5 or 10 year goals. It just becomes obsessive and once you start you can’t stop!
    Julie Kern Investor from Kennesaw, GA
    Replied about 5 years ago
    Hi Brie. I just finished listening to your latest podcast. I LOVE your story. Your drive and determination are an inspiration, especially to those of us just getting started. Hopefully Josh and Brandon will bring you back for your third podcast next year! 🙂
    Brie Schmidt
    Replied about 5 years ago
    Julie, thank you for the kind words and [email protected]
    Emily Allen from Atlanta, Georgia
    Replied about 5 years ago
    Hi Brie, Thank you for a great podcast! I don’t want to be too nosy, but I wonder if you could share some rough numbers about whether your rentals can meet 1% or 2% rules, in Chicago and in Milwaukee. I ask the question because I am at a growth bottleneck. I am in metro Atlanta area. I own a few SFM rentals, and am eagerly looking for multi-family deals. I can’t find anything that’s value-add in B types of neighborhood. I can’t afford buying turn-key rentals at $100k per door and only rent for $1k. My limited fund just exhausts too soon that way. I used to be able to buy $50k per door, and fix for $20k, and rent for $1000 and above. But I haven’t seen such deals for a while. I’m wondering if you’re seeing similar numbers in Chicago. In C neighborhoods, I can buy $20k per door, need about $20k to fix, and rent for $500. But I’m not so sure about dealing with those tenants, and the cash flow is about $50 per month– which almost doesn’t worth the effort given my goal is to quit my current job. You mentioned in the podcast you could buy $27k per door, can you also share some ideas on the rent? I’m just curious what other investors are dealing with in the current market — should I adjust my expectation, should I look for other areas that make more sense? Also, could you share how you found out about Milwaukee? I’m a bit concerned about investing long distance and wonder how I can get started. Thank you in advance!
    Brie Schmidt
    Replied about 5 years ago
    Investing out of state is not for everyone. I strongly believe that unless you can A. Scale quickly enough to pay an in house PM or B. Have a ground partner or C. Partner with a turnkey company who already has the scale, then you should not invest out of state. About 1/3 of the properties I have bought were from failed out of state investors with just a few properties and no priority with their property manager. So while you can find close to the 2% rule, if you have a unit vacant for 8 months and no easy access to your PM then that 2% isn’t going to do you any good. In Chicago my rent/purchase price (1% rule or 2% rule) is lower, but my expenses are around 35% and while my percent is higher in Milwaukee my expenses are about 55% so you need to make sure you do your due diligence. That $27k per door isn’t always for rent ready buildings, sometimes I pay $40k per door. Sometimes I pay $20k and put $15k in…
    Emily Allen from Atlanta, Georgia
    Replied about 5 years ago
    Brie, Thank you very much for your insightful answer!
    Kevin Labonte Rental Property Investor from Québec, QC
    Replied about 5 years ago
    First of all Congrats on your success, it’s always inspiring to hear stories like yours! This was the first podcast I listened to but not the last! I have few simple questions though if you are willing to share, what systems have you actually put in place before going to “buy mode”? I currently have 7 units and I want to use a software to manage but I don’t know where to “throw” myself… Do you use only one software for the whole maintenance, paiments, accounting, etc. or you just pay somebody (maybe your PM) to take care of all this? Keep going forward and good luck for your 100 units!
    Brie Schmidt
    Replied about 5 years ago
    I use QB online for accounting but it isn’t my favorite. I love that it updates transactions from my bank and that my PM and I can both log in and make edits. Outside of those two things that I absolutely need, I would not use QB For my Chicago properties which I self manage, I use Quicken Rental property manager and love it. But it is a software program so needs to be used on one centralized computer
    Brian Conne Real Estate Agent from Madison, Wisconsin
    Replied about 5 years ago
    Hello Brie, loved listening to your podcast and congratulations on your meteoric growth. Your hard work and results are impressive. I do have a question. Some friends and family have expressed interest in investing through me, which is great because I can do more deals. It sounds like you have done this in the past. Can you shed some light on how you structured these deals? I want to make it worthwhile for everybody but, ultimately, it is my job so I need to personally make a nice chunk of any profits. It needs to be fair for all involved. Any advice? Thanks in advance, Brian
    Brie Schmidt
    Replied about 5 years ago
    I just closed on my first deal with a partner actually. I can private message you with some details.
    Dawn A. Rental Property Investor from Milwaukee, WI
    Replied about 5 years ago
    What is your exit plan on the 5-year balloon? Are you saving up your cash flow to pay off the loan in 5 years? Or will you refinance?
    Brie Schmidt
    Replied about 5 years ago
    That is a great question Dawn. The 5 year balloon is my number 1 concern. The reality is that our options were stop growing or take on this risk, and we chose the risk. A lot can happen with the bank and interest rates in 5 years that could put us in a bad situation. I have talked with our banker about it (he has been with the bank 18 years) and he is confident we would be able to keep our business with them. When they analyze our deals they approve us based of a 6.5% interest rate, even though we are currently at 5%, as an aggregate rate over the life of the loan. So as long as we are approved with the higher payments he said we should have no problem financing it again. I have sought out alternatives, and did find a commercial bank in Chicago that will give us a 10 year loan commitment, which a 5 year rate reset. But they have pre-pay penalties and we basically don’t have them with our current bank. Since I might make some movement (trading up) within our portfolio over the next few years, I don’t feel comfortable making this move just yet. I do plan on putting away some of the cash flow for principal paydown at the end of the 5 years, but it would be more like 20% of the loan balance.
    Brie Schmidt
    Replied about 5 years ago
    That is a great question Dawn. The 5 year balloon is my number 1 concern. The reality is that our options were stop growing or take on this risk, and we chose the risk. A lot can happen with the bank and interest rates in 5 years that could put us in a bad situation. I have talked with our banker about it (he has been with the bank 18 years) and he is confident we would be able to keep our business with them. When they analyze our deals they approve us based of a 6.5% interest rate, even though we are currently at 5%, as an aggregate rate over the life of the loan. So as long as we are approved with the higher payments he said we should have no problem financing it again. I have sought out alternatives, and did find a commercial bank in Chicago that will give us a 10 year loan commitment, which a 5 year rate reset. But they have pre-pay penalties and we basically don’t have them with our current bank. Since I might make some movement (trading up) within our portfolio over the next few years, I don’t feel comfortable making this move just yet. I do plan on putting away some of the cash flow for principal paydown at the end of the 5 years, but it would be more like 20% of the loan balance.
    Dustin Heiner Rental Property Investor from Phoenix, AZ
    Replied almost 5 years ago
    Brie, thank you for the great podcast! Lots of useful information. So, how you found 20% down commercial financing? Is it a local bank or a national bank? All I have found are 35% down for commercial. Also, I have found that a lot of lenders do not like to lend on a commercial loan that is under $1M because it is not enough money for them. Would you have any suggestions/recommendations how I can find a commercial lender that offers 20% down and will lend around $500k? Thank you for the help!
    Brie Schmidt
    Replied almost 5 years ago
    Well, I have worked with 3 banks and they were all 20% down, one was a credit union, ones was a local bank, and one was a National bank. I would suggest putting together a one page on your track record, systems, and growth plan. Attach it to your PFS along with some sample properties that you would have bought if you had the funding…. then send it to 25 banks. Ask at your REIA for contacts, try linkedin, and ask BP members who are doing what you want to do. If all else fails I do have a commercial broker you can use, but he charges upfront points.
    Dustin Heiner Rental Property Investor from Phoenix, AZ
    Replied almost 5 years ago
    That is great information, thank you very much. I’ll do just that. You are the best.
    William Gillette Investor from Spokane, Washington
    Replied almost 5 years ago
    Awesome show Brie very informative.