All Forum Posts by: Account Closed

@Ben Guttman thank you sir

@Ben Guttman hello! Will this company fund Virginia deals? I also have another 3 unit deal I’m interested in. The seller is selling 3 rental units in a package deal with 2 being currently occupied.

I plan of placing an offer on a duplex with two 3bed 2 bath units this week. Asking was 270k and I’m offering 200k. Sounds crazy but nothing is crazy with good real estate deals from what I’ve read. The property has been available over 7 months with one unit currently occupied. I wanted to apply with a reputable company before I let all these companies unnecessarily run my credit. 

I’m curious to know which hard money lender you worked with. I’m looking into acquiring a multi unit. I have access to credit and have a decent credit score as well. 

Can someone assist me with the best hard money lenders? I know this is a very general question. I'm based out of Maryland and Hampton Roads VA. My credit score is good and I have a grip on my finances. I also have two rentals that i house hacked along with a primary residence. My goal is to acquire multiple rentals and use the brrr method in the process.

How is everyone converting  the credit to cash??

@Whitney Hutten

Wow. First, thank you for responding! The current listing price is 117k and has been available over 3 months. I believe that we can offer 105k and get the deal done. I have about 30k saved. In my mind, I’m weighing using a hard money lender and refi. I’m still trying to gain understanding on the subject. I’m so open for people to give me more critique and knowledge. I don’t know if I should use my personal money to acquire or search for hard money lender. One of my rentals is around the corner from this property. I purchased it in NOV 2017 at 125k and some of the rehabs are selling for 140-145k currently. Also, the other rental has some appreciation I could possibly use for a heloc?? Thank you for the wife advice. I’ve been talking with her constantly. I’ve helped her get her credit score in the 7s by adding her to my oldest cc’s. She does have a large student loan payment that we are attacking aggressively, but I’m not sure how we could do it. Sorry about the length.

Good Morning from Maryland. I would like some assistance for my current situation. Currently, I have two rental properties that I was able to house hack and lease to long term tenants in VA. I got married and moved to MD and just recently purchased a townhouse here. (So expensive in MD) I'm looking to finance a deal in VA for a townhouse listed with a current tenant. I have a contact at Townebank that informed me they offer 85% LTV (15%). The home is more than likely listed for less than appraisal. Would it make sense to put down 15% (let's use 100k as an easy example) and then refinance the property in order to recoup the investment and invest in another prop? Please educate me if possible. I've been reading and aspire to move forward. God bless those battling in this pandemic!