All Forum Posts by: Andy Bahr

@Mike Dymski I’m in Charlotte and am curious about self storage. Would you be willing to connect?

Thank you!

Who is the expert on note buying? Let's get a conversation started! I'm thinking now is the time to learn about it. Once the eventual correction takes place, I want to be ready to go. Thanks!

Hi Abigail, I moved to Charlotte in January of 2018 and faced this same dilemma. I was anxious to get going and the supply is tough for multi units, especially close to Charlotte. You have a few options: 1. Keep looking. Perhaps go the direct mail/drive for dollars route and see what turns up. 2. Consider outskirt cities. 3. One trend is to buy a single family and do air bnb for each bedroom. With the tight capacity, a few people have considered this. 4. Wait for the economic correction. I’m new to investing as well. I’m working on putting together my first Charlotte deal right now. Feel free to keep in touch, Andy.

Hi Patrick, We are a national lender, we’ll lend from 75 up to 95% ARV, 3-4 pts at closing, and rates 7.99 to 13. Closing in 3-10 days. Loan amounts $50k to $50M. Oddly enough, the larger the deal, the faster the underwriting. You can submit deals at: www.2ndrenfunding.com Thanks, Andy

So it's not complicated but there is a slight twist. I own a condo in Chicago. It's worth about $230k and only has a $5k mortgage on it. I need someone to loan me $100k. I'll use it for the down payment, closing costs, and minor repairs to get going, on the new 14 unit property (in Charlotte, NC) is being seller financed, outside of a $50k DP. Once my Chicago place sells (it's been on the market for 2 months and my realtor told me yesterday "not to drop the price...it's priced just right (priced at $234,500), they get their money back. All of this work may be for nothing as I do have 45 days until closing, but I did want to have these conversations NOW compared to crunch time. We need to structure it this way so the seller (first time investor) feels somewhat comfortable with seller financing and has first lien position. Thanks, Andy.

Thank you! I know CBRE is huge. Do we have a contact over there, local in Charlotte?

Who are the best commercial real estate property managers in Charlotte (think large square footage: schools, warehouses, condos, malls, Etc)? Thanks and Happy Easter!

Because it is a portfolio loan, there is no term requirement.

Does anyone think they would use a loan that is 75 LTV but only 7.25% with 2 pts at closing? I know most flippers use hard money because it’s easier and they are out of the loans in 6 months anyways (so the high interest rate doesn’t matter), but I was curious.