All Forum Posts by: Jonathan Bukowiec

@Bryant K. I believe in the ROC area, Wayne county or even as far over as Macedon you can use a USDA loan for qualifying properties 

@Daniel Hawthorne I work with David Mitchell at citizens bank and her is really good for commercial loans. DM me for his office number

Understanding that it is an "as-is" deal, I would make sure that the contract has an inspection period in there that allows you to discover any unforeseen larger issues...like termites. That way if there is you can back out and are only out $1K, if he decides to hold it. 

I'd say it depends on how many deals you plan on doing, only because there are fee's to keep your license. However, the commission you can make on you own deals could very well cover those on a couple deals. True it does give you more control over the MLS/ Bids/ and best of all access to properties, which is a plus! So, I would say yes, and in the meantime I would find a more investor friendly Realtor to help you with your transactions and is comfortable doing the lower bids.

I recommend Venmo, but it's up to you to require them to use that or offer other options. Some people are hesitant to use technology or are just simple not tech savvy enough to do so. But it's an awesome tool! 

Is this still available?

Thanks for sharing, that's awesome!

@Matthew Evan Rabinowitz Yea we are doing a full rehab, so appreciation is not the issue. We were just trying to assess if the first Private note with collateral would affect the ability to cash out refinance. I finally heard back from a local lender and discussed with him, and I have come to the conclusion it will not.

Thanks everyone for the responses!

@Mike Flora Thanks for the response, that was my assumption, I just wanted to make sure.

I am about to buy a house with private loan, and they want to use the house as collateral. Neither of us are sure if this will affect my ability to do a cash out Refi after the six months. If anyone has some insight I'd greatly appreciate it.