All Forum Posts by: Jason Shackleton

hey @Chris Mandle I have a connection that owns a law firm in NYC. She has been setting up entities for real estate investors for the past 15 years. I can connect you if you would like. 

Hey @Manuel Salce I know of a lender that is currently doing portfolio loans. 

hey @Joshua Kolnitys 

Before going the MCA route there are very likely options available for you with rates that are much more attractive that have monthly payments etc.

@Jordan Davis 

I think the above comments have already covered the conventional financing options available to you to purchase a STR. There are also no doc commercial lenders available if the banks give you a hard time with your self employed income etc.

Something that was not brought up was getting a business loan through your currently successful air bnb arbitrage business. Assuming you are not doing this in your personal name (a few options still exist in personal name) you very linkey have business loan options available to you. Access to this capital could be used for additional down payments and allow you to scale faster and acquire more STR rentals. Food for thought.

Hey @BJ Beatty 

It sounds like you already know what types of properties you want to own. The next step will be to pick a market that you want to invest in and do some market research in that area. Once you have selected your market you will want to set up an entity to own your properties in such as an LLC. I know a lawyer that has been helping foreign national real estate investors set up entities to do so for the past 15 years. I would be happy to connect you to her. I also have a financing option connection for foreign National investors. Once you have a pre-approval, know how much you can afford to purchase and have the cash ready to deploy from the right accounts it is time to locate local professionals such as an agent and start looking to buy your first investment property and build wealth through real estate.

Hey @Mark A. 

I know a commercial lender that does deals $5m and above.

@Andrew Reis 

What most investors don't know is that you can also do credit card stacking in your personal name (also known as a ULOC or syndication). This allows you to get a much higher approval amount than just getting 1 card like most people do.

This credit card stacking can also be done in an entity. Lots of investors hold their properties in an LLC for example. This allows one to build business credit for their investment company too, allowing one to borrow even more in the future. Heck with a high enough W2 income one can also get access to a term loan within the business. It really is amazing how much one can leverage their personal credit to get access to a ton of financing.

@Colton Roberts 

Welcome to the community. Two deals already congrats that was fast! Your remodeling experience will serve you well in this business!

All the best

Hey @Carley Wragg

Fellow Ontario real estate investor here! Are you intending to hold this property in an entity such as an LLC? If so I would be carefull. It's very possible you will run into a double taxation issue. I know a lawyer who has been helping foreign nationals invest in the U.S from all parts of the world for over 15 years. She used to live in Canada. I would be happy to connect you to get that entity set up properly.

Hey @Rommel Pascual 

I am sorry to hear about your job loss. However there are non conventional lenders that will look at the performance of the property more than your personal financial picture. The rates are a bit higher but this option can work perfectly for those that want to keep expanding during times of precarious work, self employment or even through job loss.