All Forum Posts by: Eric Johnson

As others have mentioned commercial DCR loans are the best bet in this situation. You will have no problem with scaling.

Warren, you'll have to ask a local lender, however 95% LTV conventional deals are done frequently. As long as you have your income docs lined up. Make some calls to some local guys that you have in mind.

Michael blanks SDA or just build your own 

I believe the people deserved better care & attention to the institution they seemingly by taxes towards. It's a tough situation, however, if the gov't enacted emergency policies to aid families in hardship, people would have a lot easier time meeting the necessary monthly expenses.

This overall situation has been a case study in the re-evaluation of the tax dollars we pay. If we don't receive it in time of need, then you can ask what is the overall point if the majority of the populace is shunned at a time when actual governance/leadership needs to step-in and assist where necessary. 

It's not the tenant's fault & it's not the landlord's fault. Are there people gaming the system? Yes, on both sides & there always will be, that's not the point.

@Cody L. I mean, everything works. There are plenty of intelligent SMS systems that you can personalize 10 different templates etc. 

The only thing you should do is what you can consistently do. If you can't consistently make calls, don't do it. If you like consistently SMS messaging, then do that. That's all it boils down to. 

They want to know you can close. Beef up your offer with some sort of official financing offer or some type of reassurance that if you go under contract on this deal, you have a much higher chance of closing than your offer competition.

Yes you can ask a lender to do acquisition + construction. That's a common product. Also, 203k already includes financed construction funds.

I like to hear the realities of investing. I am kinda tired with all these investors with a coaching/mentor platform that sugarcoat investing, for the sole purpose of growing their own pipeline.

Investing is a tedious a long-game process... and I feel like not a lot of people truly understand the dynamics of a deal. I guess the main concept is just oversimplification. 

I would say the equity isn't a problem, you are still seeing increased rents from doing the remodel, so even if you aren't getting 1.50-2.00x the return on your construction costs, it's ok as long as the property's income statement looks good and is throwing the COC return you want.

Learn effective property management and improve your skills in investing is the main goal with a first purchase. 

Actually, I would say the only rule is TRY not to lose money. That's it.

Are you searching for conventional or asset based? Are you using personal income to qualify for this refinance ?