All Forum Posts by: Daniel Foster

@Darryl Dahlen

Thanks Darryl.  I am looking to get into the commercial space with a building in the $200,000 to $300,000 range.  I am looking for advice at what I might be able to get locally in terms of rates, terms, down payment . . .

@Rob Milliken

Thanks Rob.  Thanks for the referral on Machias.  I am not looking for Hard Money Lenders at this time, as I am not comfortable borrowing at the rates that they would likely offer.

Thanks for the info.

I have lived and invested in Memphis, Tn for the last few years, but relocated to the Portland, Me area this past summer.  I have done quite a bit of looking over the last few months and I "think" I have settled on commercial properties here in Southern Maine.  I am looking for some recommendations on banks to go to for commercial financing and any details anyone would like to share in terms of terms and rates.  I have a couple of properties picked out and am in the midst of my due diligence.  Any thoughts, guidance and ideas would be very much appreciated.

Thanks!

@Jennifer Drew

There are still some banks that will do a high ltv HELOC on a primary residence. I had a 100% with Key Bank on my house in Memphis before I moved last summer and I know they still offer them as of a couple months ago. I would just google high ltv HELOC and see what you get for results.

I know I am late to the part on this post, but has anyone had any additional success in getting a HELOC on an investment property after they have acquired more than 4 properties?

Thanks,

Dan

Does anyone have any experience utilizing the Shelby County tax sale?  Ever purchased anything?

Thanks @douglas skipworth. 

One of my rental properties in Memphis Tennessee is in need of a new roof. Is there anyone who has a roofer that they would recommend? It is in 38119 and a 1,600sq foot single level home. Thanks! 

@Rhondalette W.

Its actually gone very well.  The tenant signed a 1 year lease in the summer of 14 and a two year lease in the summer of 15.  The interior of the house needs some updating to get a new renter, so keeping the current tenant is ideal.  They have also never been late on a payment, which is great!

@Marco G.

You should be able to get somewhere in that area.  I just refinanced an investment property for just under 4.5%.  Take a look at bankrate.com for a list of lenders with their posted rates.  The only issue will be getting a cash out refinance if you have more than 4 mortgages . . .

Thanks @Jerry Padilla I just found out about this option from a lender I reached out.  Thanks for the heads up.

Thanks @Justin R.  It looks like my options are a little more limited than I had hoped.