All Forum Posts by: Brandon Johnson

@Amy Verges

@A.K. Ahuja

Check out this post I just made to cover NESARA.  I searched BP and could not find where this is being discussed on the site yet.  If you decide to dig in, I believe you will get very excited about what is happening now.

https://www.biggerpockets.com/forums/888/topics/849570-nesara-gesara-financial-reset-greatness-incoming

@A.K. Ahuja Greatness is on the way and my advice would be to request a forbearance from the mortgagee and to just hang tight a little while longer as NESARA and GESARA are incoming.  For more info check out these two Youtube channels for all their posts on NESARA as both are covering it extensively.  

Santa Surfing Beach Broadcast

Pimpy's Investment Chat

This is Trump's Transition to Greatness!

@Amy Verges knows property management

@Julian R. I know you will be satisfied using Kelly for sure!  Good luck on the acquisition!

@Josh Heinen yes you absolutely can do what it is you are asking.  You just have to find the right bank who will allow it.  This is exactly how I got my start because I had no money and was determined to figure out how to get into this with other people's money including seller financing.  I posted about it several years ago and broke down in some detail how I made it happen and some of how it was structured.  I have come to find out since then that there are numerous small portfolio lending banks in my city that are happy to allow a 25% or even 20% seller financed 2nd mortgage to cover your 20% down portion, all happened at the same closing.

https://www.biggerpockets.com/forums/50/topics/188852-how-to-structure-my-creative-finance-to-purchase-a-duplex?page=1#p1275590

@Jason Duet sorry he is out of the carpentry business and only doing home inspections which is unfortunate

@Jason Duet Kelly Olivier with Olivier's Home Inspection services is who I trust most after having experiences with many local inspectors.  He is a 20 year trim carpenter who really knows houses.  His motto is "I inspect it as if I'm buying it" 

@Cameron Ysidron I sent you a PM, but the best approach is to look for the community banks that only have one, or a small handful of branches. Those are typically the portfolio lenders willing to get creative with you.  In fact I was on the phone with my banker yesterday presenting a uniquely creative real estate deal involving a paid off Tesla as collateral and he outright told me that this type of deal is why we go to community banks because Chase or Capital One would laugh me right out the door with it.  But it is a good deal and it is fun to me to see what kind of you deal you can craft that works for the lender and keeps most or all of my own money in my pocket.  I'm about to need some bigger pockets!!  

@Cameron Ysidron my first thought is you are dealing with the wrong bank. The lending executives at the smallest local community banks are going to be able to be a lot more flexible and help you come up with a creative solution. I presume you are currently pursuing a 30 year fixed Fannie/Freddie backed loan. You will need an LLC, a commercial banker and the willingness to go for 20 year amortization with a balloon term and also be paying a little higher interest rates. If you can live with all that then there are ways to get this deal done. Just gotta get creative and figure out what the lender and seller are willing to put forward to get the deal done, but you probably need to start with a new lender.

A repair allowance is one possibility, so don't volunteer to the next lender that the place is rent ready.  Every place can use a little upgrade!  :)

Also, everything you mentioned in your 2nd paragraph is possible with a portfolio lender.  

As far as owner financing, once he sells you the property, he no longer owns it in a trust.  He can finance your "down payment" in the form of a 2nd mortgage as long as he and/or his trust partners are willing to accept a portion of their proceeds in the form of monthly payments after the sale.  Bank loans you 80%, seller loans you 20%, you keep all your cash and everyone wins!  That is how I bought my first two rental property deals from fellow investors.  

@Luke Millet I second what @Eric Caire said.  If you just want to start something in Denham Springs that would probably be popular, but if you decide not to reinvent the wheel there are several sizable and reputable monthly real estate meetups already happening in the Baton Rouge area that you can find on Meetup.com.  I would recommend you check those out too even if only to see how they conduct the meetings.

Good luck!

https://www.meetup.com/the-ring/