All Forum Posts by: Anupam Banerji
Anupam Banerji has started 8 posts and replied 53 times.
Post: Finding Lenders for Loans under 500k for out of state investors
- Posts 55
- Votes 22
Quote from @Erik Estrada:
Quote from @Anupam Banerji:
Does anyone have any advice for finding lenders that will do small balance loans for out of state investors?
I'm looking for 75% LTVs and most local banks in the state the property is located in won't even entertain the thought.
What kind of properties are you looking to finance?
Post: Finding Lenders for Loans under 500k for out of state investors
- Posts 55
- Votes 22
Does anyone have any advice for finding lenders that will do small balance loans for out of state investors?
I'm looking for 75% LTVs and most local banks in the state the property is located in won't even entertain the thought.
Quote from @Jason Pollard:
Text me snd I can connect you with the owner. I think they manage 300 units but may be more
They got back in touch. Thanks so much for the referral!
Quote from @Jason Pollard:
Try Moxie Management. You can find them with a quick google search. When it comes to leasing they have a progressive payment scale. Longer your tenant stays the more they charge. Allows them to have skin in the game to hopefully reduce turnover and vacancy which really kills your return. If you want to discuss my experiences let me know would be happy to connect. 860-287-1976
I tried calling them and filling out a form on their website. The number goes to voicemail and the person is out of the office.
How large is this operation? And are they responsive?
Hi,
We've recently gone under contract for a 5 unit in Norwich, and we need Property Management. I looked at some of the local companies and their charges are outrageous! 10% of the gross PLUS one month's rent for new tenant PLUS lease renewal fees!
Is it just the town? Because I've got quotes in NJ for 10% of gross all in.
Does someone know a good PM in Norwich who has fair management fees?
Thanks!
Post: Foreign national looking for Home equity loan or HELOC
- Posts 55
- Votes 22
Quote from @Kostyas Constantine:
Originally posted by @Eric Traboulay:
Check with Signature Federal Credit Union. I found they have the best HELOCs 1.9% intro rate for 9months and can do up to 100% LTV. This is unheard of in this day and age. If you have the properties paid off, then you are golden.
Okay but are you sure they work with non-resident foreigners?
Quote from @Raymond Whitley:
We are currently offering private money at 10-12% for 2-5 years monthly interest only loans. Looking for properties to lend that are 1st position and willing to fund 90% of purchase price (LTC) and 100% of repairs up to 75% of After Repair Value (ARV) . Looking for seasoned investors with good credit and reserves. Bring me your deal and lest see if it's a good fit.
Do you do deals nationwide? I will be looking for private money in the next six months.
Post: How do prospectNow and PropStream compare for Multifamily CRE?
- Posts 55
- Votes 22
I am wondering what people in this forum think about ProspectNow vs PropStream. I tried to sign up for PropStream one trial and get the same number of results (for a county-level search) as LoopNet! That's pretty ordinary.
Am I doing something wrong, or should I just go with ProspectNow?
Post: Peter Harris - Commercial Property Advisors
- Posts 55
- Votes 22
Quote from @Zachary Bradigan:
Anyone actually tried this Commercial Property Advisor's Protege Program? All I keep getting are dead ends...
@Zachary Bradigan if they have, they’re keeping quiet.
Post: Peter Harris Protege Program Questions
- Posts 55
- Votes 22
@Tenzin Samphel did you end up signing up?