All Forum Posts by: Tarik Turner

Why not refi your current portfolio and use the cash out for a down payment on the 20 unit (If the numbers work)

There are 30 yr fixed loans available for commercial properties. Rates will be a bit higher however

Sounds like all you would need is a proof of funds in order to secure a signature. Most lenders should be able to get you that with minimal verification of funds

Conversations are still legal speak to as many banks and brokers until you are satisfied with the loan product, process and people you will be dealing with

I've always found that the most difficult part of funding a mobile home park is finding comps for the evaluation. If there are other mobile home parks in the area that have sold recently it should make the funding process a bit easier.

Loopholes of Real Estate by Garrett Sutton is one i see that's not listed on this thread. Its pretty good and informative 

@Robert M. if you're only forecasting a few months out there is a good chance finding an asset based loan won't be too difficult.

Restrictions/guidelines on short term rentals will differ, but finding a product shouldn't be an issue unless the property is located in the middle of nowhere

I believe you are requesting info on asset based lending. In that case the lenders will not look at your personal income.

If you are looking at purchasing a turn-key property then expect to put down 20% to 30% towards the purchase.

Rates will differ based on lender and type of property that you are looking for.

In regards to repairs, that's a different loan product -Rehab loan programs provide funding for repairs and are ARV based. You can find many asset based lenders who offer both Rental and Rehab/Flip loan programs

This all depends on what type of loan you are looking. Need to be a bit more specific on what you are trying to accomplish 

You need to work with Asset based lenders. Banks that offer commercial loans will still have the same criteria