All Forum Posts by: Chris Purcell

@Jay Hinrichs I apologize i thought I read someone mentioning a bridge loan instead of a refi, maybe I read it wrong 

Hard money and refi are already too many points as-is IMO

@Jacob Murphy so with Lima essentially you're paying points 3x

- once on the hard money

- once on the bridge 

- once on the refi

Has to kill the numbers in your deal

You get the appraisal done before the loan, so if your numbers are off you basically donated $500 to an appraisal company.

Or if the appraiser doesn't know what he/she is doing and prices are way off

Also - SEC regulated?  Who told you that?

@Christopher Broussard NOPE

Guy flakes first time around and now you want to be his business partner?

Buy it on your own 

@David Faulkner Solid analysis!  I actually did it with 12% equity, just need to find a lender who will work with you.

@Chris Nunes @Logan Allec I'm wrong my bad.  You can't get a 5% conventional on a multi.  Here's my advice:

- grab the multi family with FHA and rent ROOMS and try to get a single family later with 5% conventional as primary

- if you can't do that ditch the multi family all together and get a single family with 5% down now and then another one later

@Chris Nunes No there's no requirement.  Just find a lender who will work with you on getting another primary loan after you've had one for awhile.  Some lenders are willing to do it, some aren't 

Why would you even admit that mistake?  As an investor that info is useless to me anyways 

@Debra N. what are you even saying

What is the purchase price?

If the comp numbers are right and your investors are interested, what would you care about some appraisal