All Forum Posts by: Cody Burke

@Andrew Postell thanks andrew. On your relationship with your lenders. Would they structure a pm loan like this as a down payment for a commercial loan through a bank and pay the loan at balloon term?

@Chris Seveney thanks for your response. I’ve flipped a couple houses and now getting into self storage. Also wanting to learn more on the funding with private money side.

@Ronald Rohde sorry for late response. I have a business partner. This deal didn’t work but we have another under contract. Would love to work with someone in future for private money on purchase.

@Hannah Leiker Sorry for the late response. We didn’t end up purchasing that one. The seller ended up not wanting to sell. But we did find another one and under contract. We found it by networking on a deal that didn’t work out.

@Alex Breshears thank you for your response. We have a property under contract and are wanting to scale faster by closing on other deals.

Thoughts on $150000 loan @6-9% interest amortized for 15 years with ballon in 5 years for a down payment on a self storage complex? Or would you find pm to finance the entire purchase and refi after a year?

@Charles Carillo the owner doesn’t want conventional finance. Im not sure why since 400 is so close to 550 asking price.

@Jared Rine thanks for your insight. It’s in Arkansas. I’ll let you know how it ends up.

@Nathan Grabau thanks for your response. I’m trying to get wrap my head around this. It currently appraised for 580k. But the owner won’t accept a full offer. He wants to finance 150 of that.

@Nathan Grabau so my loan for the down payment would be 15% down of loan with 5 year arm amortized at 25 years. Your thoughts on using that as down payment for the 400k?