All Forum Posts by: Bob Derwin

The real estate business is about building relationships.  Is there a reason you did not use your primary bank for this loan?  If they would not consider a loan on this condo, I would have taken ALL of my business elsewhere.  You have/had an opertunity to build a relationship with the President of a community bank. 

I know that no financial institution is going to do 100% financing.  I seriously doubt that you will find a stranger to do ir either.  So banks and hard money are out.  This leaves you with a private loan from friends or family.  The only other possibility would be partnering with someone, but if they bring the cash, how would contribute  to the partnership?

I self manage and have retired early.  For me, I would rather manage 8 properties cash flowing 800/mo, than 32 cash flowing 200/mo.

I look for properties in Housing/Real Estate For Sale. I see no FSBO section in my area (Scranton and Poconos in PA).

In my area, most of the low priced fixer uppers on CL seem to already be in the hands of wholesalers.  You may find it to be different in your area. 

I have used holdings, properties, and investments.  I have never had a problem securing commercial/portfolio loan financing.

You may need to do a better job with the Buy and/or Rehab phases of the process.

I've used my last name with words holdings and properties.  i have also used my parts of my daughters names combined to make a single word, and finally my wife's and daughters initials of their first names with the word investments.

I would wait until I have the deed in hand to take any type of action ....

That is going to be Wilkes-Barre city or Hanover Township.  My guy won't work ineeither place.  @Kevin Doyle or @Steve Franco may be able to lend a hand with contractors approved for this area.