All Forum Posts by: Ignacio Rosenberg

Thanks. So I’ve found out. I’m going to try that. 

The other option suggested by a loan officer friend of mine was to set the rental agreement with my LLC and tenant even though the condo is under my name. I haven't seen that strategy laid out before (I was always under the impression that the house had to be under the LLC). Have you heard of that scenario?

Hello! We're moving next year and since my fiancee and I are in opposite ends of the country we're meeting halfway. With that said I'm considering renting out my current condo for the time being. That would also imply re-deeding it to our REI company. Does anyone have any experience with how this works and, especially, what this entails with the mortgage company? Is that just a matter of changing their mortgage information to the company?

Thanks!

As summer and the seller's market rolls around I'm considering my next move. Since we're still on the private capital learning spree I figured I'd tap into my home's equity. Now I'm debating whether I should sell and keep most (minus commissions) of the equity and rent somewhere else; or if I should get a HELOC out and keep my condo.

Any and all thoughts appreciated.

We’ve been looking at wholesale lists and some opportunities have come up. Now, we’ve never done a wholesale deal so I’m not sure what to expect. How does it differ from a regular purchase? Should I get a realtor as well? 

If anyone could walk me through it I’d be very thankful. 

Hola everyone;

We're looking for a good contractor in Dayton that's used to the fun business we're in. Anyone have any recs?

Thanks!

Thank you!!

We've been looking at getting into the BRRRR game (I mean I'm in Chicago...the brrrr is already here). Looking at the calculator, does it take the rehab amount as part of the hard money loan, or is it assuming it's cash aside from the loan? If I'm borrowing the rehab money from the HML should that go into the purchase cost or into the repair cost in that particular calculator?

Thanks!

Thanks Caleb!

Thanks Kyle!

I guess I don't understand how it being a conventional loan or a hard money loan differs from how the seller sees the purchase. Taking it a step backwards, I don't know how a hard money lender supplies the funds. I meant with "bulk package of money" that a loan from a HML is (if I understand correctly) a loan for a specific amount that also includes rehab.

So basically...does the HML give you a cheque you put into an escrow account and from there you purchase and rehab, in which case the seller would see it as cash? That's basically it.

We're starting to seriously consider BRRR as a strategy, but are very inexperienced with hard money lenders. I'm going around trying to set a couple of meetings to talk to lenders, I think a conversation is always a good starting point.

That being said I was wondering how the seller of a property sees hard money.  Since it seems to differ to a conventional loan, and I understand it to be more of a "bulk" package of money...is the seller under the impression this is a cash offer? How does hard money look  like to them getting the funds, basically?

Thanks!