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All Forum Posts by: Eric Johnson

Eric Johnson has started 20 posts and replied 613 times.

Post: Commercial investing tips

Eric JohnsonPosted
  • Lender
  • Chicago, IL
  • Posts 653
  • Votes 313

Alex, as Charles mentioned. Just because other people do it, doesn't mean you have to. If a building hits your target returns, then to hell what anyone else thinks if it works for you.. 

Identify good assets, buy right, and hold until you want to. There is no limit to how creative you get with your own investment structure. good luck 

Post: What to say to martgage broker when you...

Eric JohnsonPosted
  • Lender
  • Chicago, IL
  • Posts 653
  • Votes 313

If want to go conventional they won't allow that to happen. If that was possible, every buyer would have the seller finance the downpayment and come in with little to no equity. 

You would be able to have the seller carry 90% if you come in with 10%. The seller would have a first position note at a 90% LTV at that point. It's up to negotiation. However, It doesn't work how you are picturing it in your mind.

Post: How To Fund Investment Deals & Deal Desk Networking

Eric JohnsonPosted
  • Lender
  • Chicago, IL
  • Posts 653
  • Votes 313

Hello all,

This is a virtual event for investors of all skill levels. We will be diving into how to finance investment deals & what "bucket" of money you need to choose from in order to do the deals you want to do. Everything from fix and flip, buy and hold, and apartment investing will be discussed. This is more like a guided chat aimed at having members actively participate in the discussion.

for those not actively on BP all the time, here's the link to the meetup: https://www.meetup.com/real-es...     

At the end of each event, you will have the opportunity announce what you are seeking or what you have, & if you would like to partner with anyone else on any deals. It's a chance to make impactful connections that can move your deals forward.

Appreciate it & hope to see you there!!

Michael, a total project / investment summary would be helpful as they know exactly what happened and how their money was used. Including before and after photos also a good idea. Give them a bottom line return number, so they know exactly they made "x"% on their money. When they talk to other people they can say, oh yeah I made a "x"% return working with blah blah.... 

Post: Can’t refinance to do BRRRR

Eric JohnsonPosted
  • Lender
  • Chicago, IL
  • Posts 653
  • Votes 313

Thomas, I'd be happy to offer some insights. You'd need to go asset-based commercial financing here. Shoot me a DM. Happy to help.

Always compare the benefit of the cost. With & without, what does your loan scenario look like, in terms of total savings? Does it match with your exit timeline? For example, doing a rate buy down might be more sense if you have a longer deal horizon planned, because you will be saving money each month, whereas taking a higher rate with no points, might make more sense with a shorter horizon, since you can keep that equity when you sell.

Is this a refi or a purchase? If a refi, then that's another hit for pricing. Purchase deals of like kind take priority of refi deals of like kind. 

Post: Newbie in Grand Rapids, MI - small apartment buildings

Eric JohnsonPosted
  • Lender
  • Chicago, IL
  • Posts 653
  • Votes 313

What purchase price are you looking in? Depending on your strategy, sticking to 4 units may be a good idea since the 5-15 unit range is an awkward asset-class... 

Post: Refinance with the same lender?

Eric JohnsonPosted
  • Lender
  • Chicago, IL
  • Posts 653
  • Votes 313

You can always source additional offers to be sure 

Post: Can’t seem to get a HELOC on my investment property!?

Eric JohnsonPosted
  • Lender
  • Chicago, IL
  • Posts 653
  • Votes 313

Vinnie, I'd search credit union and bank on google maps and just go down the list with their phone numbers. That would be much more efficient for you. Make 5 calls a day if you don't get the option you're looking for. Someone will do it.

Post: Investment Presentation Packet

Eric JohnsonPosted
  • Lender
  • Chicago, IL
  • Posts 653
  • Votes 313

Jason, 

I'd be happy to have a phone call with you as a potential financing partner. I can give you some helpful insights to help you move forward with your deals. Feel free to shoot me a DM/email (in signature).


This packet seems more for a bigger project than a vanilla SFR flip, you can simplify this to make it more concise while saying the same thing..