All Forum Posts by: Brandon Croucier
Brandon Croucier has started 2 posts and replied 626 times.
Post: My starting point
- Lender
- Nashville, TN
- Posts 687
- Votes 279
If you are working with about $100,000, you could get yourself into about $400,000-$500,000 worth of investment real estate if you've got a decent fico score.
I don't think anyone ever regretted not buying as much RE as they could if they waited 10 years.
Post: Looking for 2 options Heloc and Private Lending
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Hi Sandra,
There are plenty of good lenders on BP!
Can I ask what the current loan to value is?
Post: First fix n flip
- Lender
- Nashville, TN
- Posts 687
- Votes 279
You put just $2,000 Down?
Or $20,000?
Post: First Investment home
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Detroit is a market with crazy cashflow in certain areas.
Make sure you screen your tenants well.
Best of luck!
Can I ask how you are financing your investment properties?
Post: Ensuring Flexibility While Protecting Private Lender Interests
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Close fast, stay in comfortable LTV positions is the name of the game.
Post: Is it worth paying a premium for favorable terms?
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Quote from @Luke Rusten:
Quote from @Brandon Croucier:
I wouldn't be overpaying for something with good seller financing.
Rates are coming down in the next 24 months, you can just buy something else with the intention to refi down.
Thank you for the input. Would you consider it if the rates were as low as 2%? That is where I am getting hung up. At that percentage I end up paying significantly less in interest over the length of the loan, but where I get into issues is if I ever want to/need to sell any of the properties before they can appreciate in value to be worth the list price. Sorry, I should have provided that detail in the original post.
I mean how much are you overpaying for that rate.
Whats the actual value, what would be the purchase price?
What are the rents?
Post: Recommendations on a Hard or Private Money Lender in the Ann Arbor, MI area?
- Lender
- Nashville, TN
- Posts 687
- Votes 279
There's plenty of good DSCR lenders around here, however most are not going to allow a down payment financed as-well (if they catch it).
Post: Refinanced my first BRRRR but bank will not let me put it into an LLC
- Lender
- Nashville, TN
- Posts 687
- Votes 279
You need to refinance into a DSCR Loan, Conventional lenders do not allow you to vest in an LLC.
Bigger Pockets is a great place to find DSCR lenders.
Post: Is it worth paying a premium for favorable terms?
- Lender
- Nashville, TN
- Posts 687
- Votes 279
I wouldn't be overpaying for something with good seller financing.
Rates are coming down in the next 24 months, you can just buy something else with the intention to refi down.
Post: Creative financing strategy
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Quote from @David Hertz:
Thanks for all the responses
1. I am leaving him at Seller Finance for the rest of the loan in order to protect myself if he doesn't pay rent (that will be on the note).
2. I don't plan on leaving this at a high-interest loan; I will wait out a seasoning in order to get a new appraisal. I think the value is 650-700k.
3. If I can get 2/3 of the purchase price on a hard money loan, I should be able to leverage 100% financing after the seasoning period.
Problem is theres slim to none investors that are going to allow you to get into a property with zero skin in the game.
Whats your risk?
Whats stopping you from just walking away to pursue another opportunity
Nothing.
Your going to need some skin in the game, even if its as little as 10%.