All Forum Posts by: Greg Downey

@Brie Schmidt, This isn't meant to be argumentative, but informative for the crew here. A commercial loan is not limited to a 5 year balloon product. This is VERY short sided. For a duplex in an LLC, we have multiple lenders on our platform that are offering 30 year fixed rate mortgages. For commercial properties that are non residential, balloon payments are very typical, but are not only limited to 5 year options. I hope this is helpful.

Let us help you harvest the equity in your properties with a cash-out refinance.  We have a lender on the platform that is offering discounted appraisals through 15APR2018.  Hustle and we can get you in, quoted and processing while the offer still stands.  

Ken,

Are you still in need of some help on this or other projects?  I might have some resources that could fit your needs.  Feel free to PM me or email me at [email protected]

@Igor Asnis, would you need any help on the financing side of the transaction?  I'd love to take a look at any deal that you get.

Investment Property Loan Exchange has had some incredible feedback about our cashout-refis that we have been able to get for foreign nationals investing in the U.S.

30 year Fixed rate!!!

65% LTV

rates at or near 7.50% (3/22/2018)

2.5 total points

3-2-1 prepayment

Get in before interest rates jump too high.  Feel free to reach out to me personally or follow the link below and complete our 5 minute questionnaire.

https://iploanexchange.com/ref/YBD%20Properties%20LLC/?campaign=BiggerPocketsProfile

Investment Property Loan Exchange has added another lender with a great fix and flip program to our platform.

Here is what it looks like:

FICO as low as 600!

Loan range- $50,000-$1,000,000

1-4 unit SFR

LTV - up to 90% of acquisition and renovation expenses

Term - 12 months INTEREST ONLY

Rate - 9-12% with as low as 2% origination fee

Underwriting is very simple and can typically close within 14 days.  Lets get your deals funded.  Follow the link below and fill out our 5 minute questionnaire and I'll be in contact with you same day to get the ball rolling.  

We have all types of lending products. Reach out to me personally, I'd love to talk strategy with you and help dial in your portfolio's financing.   

https://iploanexchange.com/ref/YBD%20Properties%20...

All,  thanks for the feedback and @Bryan Blankenship I see how my original post could be interpreted to see that I didn't want to rent to them because of children.  So to clear up for the off chance that somehow someone wanted to chase that into a courtroom, I was simple stating the facts.  This is very much a children friendly home.  

From everyone's feedback I was able to direct my research a bit more accurately. Here is what I found...... HUD regulations have a "Keating Memo" that addresses this issues. Essentially, the basic rule is 2 occupants to a bedroom. It does leave a bit of wiggle room for interpretation based on square footage.

At the end of the day, I decided to walk the property with the potential tenant and she decided that I wasn't a good fit after all.  

Thanks for the information guys!

BP crew,

Quick question regarding Missouri Landlord Tenant law. Is there a limit to how many people can be living in a home per bedroom? I ask because I have an application that I will in all likelihood be denying as they have 6 children (2 adult) that applying to live in my 1600sqft 3/2 SFH. I like to have good reason for denying someone though. I just want to make sure that all of my ducks are in a row.

@Account Closed, marrying a good women is some of the best advice that anyone could get. 

To bump this post as I think it will add some great value to the BP community here is a headstart:

Home improvement stores: Home depot, Lowes, Menards, ACE, Southerlands, Meeks, lumber liquidators etc

Product types: construction supplies (sheetrock, roofing etc), electrical fixtures, vanities, kitchen cabinets, countertops, flooring, landscaping, Prehung doors, windows, appliances, HVAC etc

Who is the best at what?

I don't think that this already exists, but I have noticed that some home improvement stores may offer better products and/or pricing in certain product categories.  ie.  Lowes has the best bathroom fixtures for the price or Menards has the best prehung solid core doors for the money etc.  I have spent my fair share of time in Home depot, but would love to hear from some of you guys that are consistently making your rounds in the Home Improvement Stores to find the best deals.  What products are some of these stores offering consistently at such a value that it is worth driving across town to take advantage?