All Forum Posts by: Will Barnard

Keep in mind that 5 units or more will require commercial loans. Also, you could always start out with residential multis like duplex and quadplex units. You can develope some experience without getting yourself too deep.

Tim, for everyone's benefit, can you point out specifically what "tweaking" was done to their system to get quicker positive results?

Note to Josh/moderators,
My last post is not intended to be a solicitation. I receive nothing ffrom it and Vince asked for a referral. I hope giving out the number is ok.

Vince,
Try Tim Arch at Arch Insurance Services. He is in San Antonio and insures my units there. 210-530-5111 Ext. 11 Let him know I sent you and ask for the investor policy he gives me. I have a 2000+ sq. ft home valued at over 175k and my policy is only a bit over $800 annually. Contact me if you have any other questions, as I have many units in San Antonio and in the Metroplex.

Unless you are investing in time sensitive investments like tax lein certificates, etc. you do not need checkbook control. No need for it, however, it should not cost you $4000.
Go to my website and click on the SDI link which will take you directly to Guidant who can do it for about $2500 or so. For traditional TPA's, try Equity Trust Co. or Entrust.

There is no "do it yourself" as you need to have a TPA.

Not even 85% now. It is 80% or lower. The only way around that is to get a bit more creative like get an 80% tard. loan, and the 10-20% balance from a line of credit or preferably a HELOC which has the lowest rates/fees and the easiest to obtain. You can alos get a private money loan or worst case senario, a hard money loan (HML).

In addition to all the great suggestions, you could attend and even get a booth at some large RE investing events to market the property. You would have lots of live foot traffic to market to.

Do not, I repeat, do not claim it is owner occupied when you know it is not. That is fraud and the insurance carrier would have every right to deny the insurance claim and seek legal action against you. Insurance for NOO is usually more, but not 4 times more. It appears that you are paying more than you should be. I suggest getting multiple quotes comparing apples to apples from at least 3 different brokers/carriers. This will let you know where you stand.
What state is the investment in?

..... or work out a loan modification with the lender. As someone previously stated, lenders would rather work it out with you than take aonther property on their books!

Welcome to BP Will. What a great name!
Remember one important aspect - there is no "US market" or "National market". Every community in each city and in each state has it's "own DNA" Find the area that fits your criteria, ability, and goals, and then hit it hard while you can.
Good luck.