All Forum Posts by: Charles Carillo

@Ashley Allen

We have been utilizing VAs in our business for 10+ years. You can use websites like UpWork.com to find VAs to outsource these and other tasks to. Start off with a couple outsourced tasks and then keep adding to them.

@Kevin Page

@Alexis Irizarry

I am located in Florida and years back; my wife and I setup our asset protection structure. The problem I found when looking for an asset protection attorney was that many of them just provide LLCs; LLCs are essential in any asset protection plan but as the name states, limited. DM me and I can explain what we did and who we used.

@Matt Morales

1. I would have your attorney review the mortgage before doing anything. Usually, Quit Claiming a property with a due on sale clause will not create an issue but I have read about loans being called because of this. Remember, that you need to add the LLC name to the insurance policy (which the bank (usually) pays).

Yes, you can refinance properties owned by LLCs; it is done all of the time. The issue might be that the rate/terms are not as good as a residential loan refinance for a property where you live and own in your name.

2. You can get 30-year term loans on 1-4 unit investment properties owned by LLCs. Yes, the rates will not be as competitive as compared to owning in your own name and you living there. I would search out some better local lenders or other nationwide lenders that focus on 1-4 unit investment properties. 

@Brian Kempler

There are wholesalers all over. You can find them by contacting home buying companies, through wholesale social media groups and responding to social media posts that are advertising properties requiring work. Local meetups are also another great source of finding wholesalers.

@Owen Thornton

If you are "raising debt" from people (private lenders) that you are finding; you are able to structure it anyway you want. You decide the rates, terms, fees etc. You do not have to mention anything about documented income, credit scores etc. if you do not want to. You are taking a normal person and turning them into a lender. I am not sure how this is riskier than say the stock market; if they have a 1st position mortgage against the property, it seems very safe to me unless there is no equity. If it was not safe, you would not have banks all over the country offering loans with 70%, 80% and 90% LTVs. 

Where do you find these potential lenders? Find people with retirement funds and educate them on private lending.

@Steven Barr

Seller financing deals are not deals that are normally advertised. It usually requires the investor to go straight to owner and build rapport with the seller. 100% LTV in this hot market, in addition to the fact that you are new investors, is going to make it even more difficult to find willing owners to provide financing. Not saying it is impossible, but there are probably many other experienced investors that will buy the same property and happily put down 10%-20%. Property owners today are consistently being mailed and called to sell their properties.

@Fahadbin Alam

Visit your local Real Estate meetups and you will find private lenders there or other investors that have private lender relationships. After you have done some deals; you can start talking to high-net-worth individuals about lending you money for your deals. When you "create" your own lender(s), this is where you will benefit from lower rates and minimal fees.

@Hunt Jalen

There are very few seller financing deals that are advertised; and if they are, they are scooped up right away; especially in this market. Most investors who have purchased seller financed properties; find the property (direct to owner), build rapport with the seller and then enter into seller financing. Many owners aren't aware of the benefits of seller financing.

@Billy Perez

It really depends on the HML you are working with. I have seen it both ways; a loan to property only cost or a loan to cover the purchase and rehab. I would ask the HML who you are speaking with what they offer. Once you have built a relationship with them; you should be able to negotiate better rates and terms.

@Erik Nordgaard

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