All Forum Posts by: Dana Regan

I am looking into private funding for my investment, and I have found interest rates by individuals as low as 5% interest only, to 9%.  Of course, the 5% looks great- what do I need to know? Is there any risk in working with an individual lender?

TIA

I have just won a bid for a rental home for $385,000.  I have a lot of cash, but believe getting private funding until I can refi is a good strategy.  There are minimal repairs required so can rent it withing a week of purchase. Here are my questions:

- How much cash should I use? I could feasibly do 70%- but should I?

- How do I evaluate private lenders? Any recommendations?

- How long of a duration of loan should I take? I can refi in Feb, what is normal time range?

Thank you for advice

I found a great property on homepath that is coming soon. I contacted the broker and was able to see the property.  No idea when it is coming on the market- what are some tips to help make and win the offer?  Can I bid before it is listed? it is an investment property- am I at a disadvantage to owner-occupied offer?

Thanks for any insights and advice

So, as I purchase, I do so in my LLC, so it is a business loan. My other properties are in the LLC, as well, with a positive cash flow established. Lets say I want to purchase a property for $200,000, how much do the lenders usually require down versus funding? While I know it will rent quickly, of course I cannot have a renter lined up when I go for funding. Any thoughts?

Thank you all for your help!

I have been a landlord for a few years, but as a side job. As such, getting refinance loans was no problem because of my full time employment.  I am now a consultant, and because I don't have a full year with proven income, my lenders are not able/ willing to work with me.  How have others overcome this?

Thank you!

Woo Hoo!  I got them - thank you!  On to  my next steps!!!  Thank you!

I own a few rentals, but now have capital to buy more. I am aware of vacant properties that I am interested in, but cannot find the owners.  Any recommended approaches?  i know this is a basic question and appreciate any help.