All Forum Posts by: Edward Moore

@Pedro Amador DM me and I will give you my answer based on what I have seen.

@Jonathan Greene I did, and to be honest that is what is driving me to ask more questions. It was great to hear all of that and I feel like I have a pretty good handle on it. This may just be analysis paralysis starting to set in. 

@Craig Parsons I'll do a deeper dive into his stuff and see what I can find. Is it squad up or squat up? I always thought he was saying squat up, and it made no sense haha. 

Thanks guys, I appreciate the feedback. 

Has anyone gone through Pace Morby's creative financing course? Or any other course in this field? I feel like I have a good grip as to how the seller financing works. Not as clear on sub-2.. But I am fearful that I may make a mistake putting the deal together with the seller without going through some formal training or working with a mentor/partner. Will an attorney "catch" any potential pitfalls I may make? Is it a bad idea to try to work with the sellers realtor if I cant find any off market properties?

If you have gone through the course and are a student, was/is it worth it? 

Thanks!

I use Mark Perlberg. He's local, and works mostly with real estate investors. You can PM me for his info. 

I recently quite my full time W2 to focus on the flips we had. Now, the money is good and I need to find a place to put the money to avoid taxes. Along with using their depreciation for taxes. I really want to get into the vacation/ short term rental market in FL and the Carolinas. Obviously conventional loans are out. Other than owner financing or assuming the mortgage. What financing options if any, are available? I have read a little about Non-QM loans. But not sure if that applies. I am reaching out here first before I start cold calling lenders. 

Thank you!

Hey all,

I am having good luck finding deals, but I am starting to run into cash flow issues in-between deals. There is a lot of information out there on where to find money to fund them (friends, family, or private money) And I think that if I have a good structure in place to present to them, I know the right people to ask. My question is, what is the best/ fairest way to structure that deal for it to work for both sides? Is it interest only payments? Equity? Percent of the deal? What do you use? 

Thanks

@Caroline Gerardo No, we cannot show bank statements for the required amount of time.

I should have also mentioned that this is a portfolio of 40 single family homes. Not one single property.

The numbers do look good as far as cash flow.

And no, we do not have any equity to pull out of another property at this time. 

@Moshik Zemach The seller would not be guaranteeing the loan. 

I think I worded my question incorrectly. We are looking for a lender to be in first position, with the owner carrying part of the down payment or even the whole 20-25% the lender would need. The owner will be in second position. 

Thank both of you for your responses. 

@Caroline Gerardo No, we cannot qualify from what I understand. But, we will keep looking. 

Hey all,

Does anyone know of any lenders in the Charlotte area who allow the seller to be in second position on a loan for a rental property? To use as collateral for the down payment. 

Thank you!