All Forum Posts by: Billy Brown

If the numbers work, i potentially have JV partners. Or you can wholesale it to buyer and take a small monthly cut from the net proceeds as your "finders fee". I have buyers here chomping for apartments.

@Jay Sechowicz commercial loans are typically 20 or 25 yrs.  The advantage is those loans are based on the asset itself and the Net Operating Income (noi).  As long as you are a solid citizen, they lenders dont' really care about your ability to repay like a traditional mortgage. the other advantage is, as long as its through a entity, when you cross collateralize, you get into a commercial loan and you reset your ability to borrow using fannie and freddie money.

@Gregory A. Stay on BP, Connect locally with like minded investors, Connect with private money and commercial lenders like myself who can help with strategy, know the numbers, and finally PULL THE TRIGGER. 

Also, don't be afraid to partner with people to get your feet wet, either debt or equity partner.  The people here that have taken to the next level collaborate and are winning big.

We can pull out the equity very quickly if you pay all cash. It is on the rents and proforma if you are going to get a construction loan.  One deal i'm working on for a BP member is a 2 step process. get construction loan to rehab the property, steady the rents and then do a cash out refi 6-12 months later.  Not only will the property debt service but he can put $75-100k in his pocket and go shopping again.

I don't see non owner occupied str's as a long term investment strategy. There is a lot of pushback from metro and the hotel industry.  Plus laws of supply and demand say that the more of them there are the less money you can charge for a stay.  The only way it works is for owner occupied.  We currently have a triplex under contract where we will partner with someone to live there and manage the property in exchange for free rent and some profit sharing.  

If you are "bankable" secondary lending is an option as well as BRRR strategy. Partner with a private lender to fund the deal (assuming you buy it under value), wait 6 months and do a cash out refi off the new value. Private lender can be a debt or equity partner.

We can do that as long as the NOI (net operating income) supports the new debt. Many times we can pull out equity after combining the notes. We have a very unique setup at ACS. We can do lending across all 50 states. inbox me or hit up my website to schedule a call if you want me to look at your situation.

You can never get rid of FHA pmi unless you refi. in order to do that you need to improve the value of the property. If it is owner occupied, the value is mostly on the comparable sales and the condition of those sales. Commercial is a whole other story based on NOI.

To Collateralize  a property is putting it up as skin int he game for the bank, usually the bank get's first position if you default. Cross collateralize means they put several assets under one lien and pull out equity so you can go acquire more assets.  ie if you have 4 properties with 40% equity and 4 mortgages, the bank would refinance all 4 up to 75 or 80% of the value and put under one mortgage on a 20 or 25 yr amortization.  We do it all the time with our clients.

We can do commercial loans on investment properties all across the usa. We can even cross collateralize them if the numbers work.