All Forum Posts by: Ben Grew

@Jason Shackleton thank you for advice...I have an LLC with 9 properties (industrial warehouses) and good cash flow in my opinion. Just got a line of credit last February pre Covid on two of the buildings for 400k from a bank up here in MA. It is a local bank not willing to lend out of state. Trying to diversify our portfolio and get more for the money in florida compared to MA prices.

Any help/connections to lenders in SWFL would be great. Thank you.

I am looking to buy a multifamily property (10-20 unit) in Cape Coral/Fort Meyers area. I was hoping to get a few references for lenders in the area who are investor friendly. Any help would be appreciated. 

Interesting info.. thanks for sharing. Wild year over year change 

I would like to be a part of the meet up next Thursday if there is room. Definitely interested in future meet ups going forward if this doesn't happen. 

Originally posted by @Owen Dashner:

I own and operate a flipping/wholetailing business using a sizeable LOC to fund our purchases. They are great - they provide liquid capital, you don't pay interest unless you have the money out (unlike a mortgage), and they typically do not require all of the underwriting headaches that mortgage loans do. The downside to them is that banks could potentially freeze the line or shut it down if the economy tanks and lending tightens.

We just got approved for a line of credit in February. They required the line have a zero balance for one month within 11 months of drawing any money. Have you heard of this before? They brought this requirement once I asked to raise the line to 400k. 400k is 60% of equity we brought as collateral. Just wondering if the zero balance within 11 months is common.

Hey guys, I'm looking for my first multi family too. I'm thinking out of state down south. @Charlie MacPherson I'm a contractor on the cape. Yarmouth. I want to do flips as well. Ever get any leads down this way for flips?

I've been lurking on the forum boards and listening to podcasts now for a few months. I really enjoy all  the people and knowledge that everyone is sharing.

About me: I am 29 years old. I live in Yarmouthport, MA which is in the middle of beautiful Cape Cod. I have been in the construction industry for 10 years. I work with my father @ his building/remodeling company. My everyday tasks could include anything from building a deck to typing contracts for future jobs. I am involved with all aspects of the company.

I have come to BP because I am looking to network with/learn from successful real estate investors.

Real estate interests:

Flipping 

Spec homes

Rentals

I also have my construction supervisors license.

-Ben Grew