All Forum Posts by: Billy Brown

Welcome. This is a great place to learn. i would also get involved in your local REA meetup group.

Nearly all my business is from that group, mainly referrals.

@Martin Gaspar This happens quite a bit when working with lenders who aren't investors.  I'd be happy to help guide you and introduce you to who i recommend.

@Ricardo Funk Hernandez There are many ways to do this.  Levi T is right, there are foundation actions you need to do just to get to the point where you need an attorney.  Before you start, ask yourself if the headache of going through this is actually what you want.  If it is, then move forward.   Several times I've created a game plan so complicated to create "freedom" it actually created more stress and a job and i had to stop.  

@Account Closed it's all in the numbers.  what is looks like and where its at (within reason) doesn't matter.  The questions to ask are: am i looking for significant cash flow or equity (rarely do you get both)

@Jason Vanterpool i'd love tho help.  I have commercial lending connections i could share.

@JT Yourinson yes, chimerical lenders will allow down payment funds to come from helocs so long as the global cash flow makes sense.  i'd be happy to help you.

The HML is broker through love the relationship and if you are good in their system, then it really does come down to the deal. So if you buy right, you can rest assured you can make another offer. If you don't have a current go to lender quarterback, i'd be happy to help. Also, if you are buying and holding, i have private money that is looking for that exact same scenario, forced equity plus a little cash flow. It would be a joint venture/partnership.

@Julie JenkinsDepends on the property. 1-4 units you have a choice if its owner occupied or non owner occupied. over 5 units you are in commercial lending world and those are pretty much the same. The difference you will get is in how full the buckets are at the bank you bank at. If you are part of REIN here in Nashville, Yogi Dougher's group Alternative Capital Solutions, and where i now office out of, came up with a fun way to bypass the bank and help speed up the lending process for commercial lending. But you are looking at 75-80% LTV and a 20 or 25 yr AM with a 5 or 7 yr balloon. Reach out if you need help. I'm a sponsor of REIN and lender.

This is the fun part!  What we do with our clients is refinance the portfolio and put the loans into 1 commercial note using our banking partners across the usa (Cross Collateralize). Sometimes we can cash out (that "debt" money tax free remember). Then we can go shopping! See my youtube videos on next steps and how to buy an apartment building. Also, this puts all the debt on the entity and off your personal credit.  The net income still passes through to you, all the expenses are on the entity.  Does that help? Congrats on the success.  If you want help with this taking to the next level and buying larger assets, let me know.   

I'd love to connect with both of you. we may be able to help each other out sending referrals.