All Forum Posts by: Alex Bekeza

Want to pull cash out of the equity you've built up in your investment to make another purchase or do renovations? 

Facing Balloon Payment?

In a hard money loan with cash-flow-killing rates and terms?

I'd love to talk to you about refinancing into a 30 year loan on your investor property.  1-4, multifamily, mixed use, commercial, you name it.  

-30 year term, fully amortized

-Fixed for first 3 or 8 years

-Rates in the low 7%s to Mid 9%s (Depending on credit, property type, loan term, etc)

-70-75% LTV

-NO Lender Origination Fees

-Flexible Underwriting

-650 min FICO

-NO TAX RETURNS OR DTI REQUIREMENTS! Great for self employed investors

Lets get you into a loan that will let you cash flow and pull cash out for the next investment.

#BRRRR

All the best,

Alex Bekeza

Another reason why not to attempt to turn that basement into living space is that you will have a very hard time when you want to refinance/sell.  The lender/appraiser is not going to look at the potentially illegal living unit as going towards the property value.  Rather they will look at it as a huge cost to repair to bring back to code.  

@Jose Schnaider  You should roll if your free next Thursday night.  Let me know.

See you there!

@Aaron Hollingshead  Sounds like you got paid $5k to go to school!  Keep grinding, hindsight is 20/20.

At what point do you feel like you weren't lazer focused? Renovations that didn't have a good ROI or financing terms which hurt your profit? What was the specific hiccup.

@Eddie Garcia@RJ Browning

I agree that wholesalers can and do add value BUT the practice has become very popular and it can be hard to weed through all of the people who you don't want to do business with.  

I think wholesaling is valid way to enter the REI. Although not the fit for me. I will say though that you need to distinguish yourself from the pack of wholesale people on social media who just have shadiness written all over them.

One simple question is why on God's green earth would anyone get into wholesaling without getting a Real Estate License in their state first??? 

One just to protect themselves.  Two just to give them one ounce of trustworthiness that they know what their talking about.  

Most house flippers I have met seem to favor REOs off the MLS or simply contacting motivated sellers themselves. A lot of experienced flippers have been burned or almost burned by wholesale deals.

@Khaled Seirafi  

If they do end up leaving all of that refrigeration I would call a few local restaurant supply stores and HVAC companies.  Both businesses may be interested in buying to refurbish or strip for parts.  If they aren't interested, they may even have someone to refer you to who specializes in buying and auctioning commercial restaurant equipment when companies go out of business.  

Good luck cleaning up the place!  What type of new tenant are you trying to bring in?

@Constance Chambers.  Congrats on the sweet deals!  I'd be happy to dive into this for you and see what terms we could offer to compete with what you've already heard.  Give me a call whenever you have time.  Email is fine too.  

We have great programs for not only the purchase and renovation but also a cash out refi with no seasoning requirement.  

The program I have in mind also requires No Tax Returns or DTI Requirements. The loans are based off the property value and require only simple bank statement documentation.

The great rent roll history will be a nice asset when looking for funding!

Hello @Li Wan.  While foreign investors will have different requirements to meet.  We can absolutely offer financing.  I'm going to send you a direct message.  

@Daniel Andrews  The work looks amazing! Congrats! What do the comps look like? and most importantly have you located your next flip?!