All Forum Posts by: John Kim
John Kim has started 2 posts and replied 15 times.
Post: Sherman Bridge Lending User Beware!!
- Flipper
- The Colony, TX
- Posts 15
- Votes 25
Why would it take a negative forum post by @Jimmy Chin to get someone to address his concerns?
It seems he was trying to reach someone very aggressively but was ignored.
What position do you hold for Sherman Bridge?
What I don't want is to have my questions unanswered by my lender.
If I need to speak to a loan officer instead of a customer service rep, what response time should I expect?
Thanks for your reply.
Post: Who's purchase agreement do you use when buying thru a realtor?
- Flipper
- The Colony, TX
- Posts 15
- Votes 25
Thanks for clarifying for everyone!
Post: Who's purchase agreement do you use when buying thru a realtor?
- Flipper
- The Colony, TX
- Posts 15
- Votes 25
Hey thanks for answering my question in a positive, encouraging way!
Appreciate your input!
Post: Who's purchase agreement do you use when buying thru a realtor?
- Flipper
- The Colony, TX
- Posts 15
- Votes 25
Hey thanks guys for your responses.
The escape clauses are the provisions you guys are talking about. I suppose I used the wrong word. We all know we are looking for protection using provisions. I fully intend to buy properties I submit offers for. I don't intend to waste anyone's time. I'm afraid you have the wrong impression based on the incorrect verbiage I used.
Thanks everyone for your responses!
Post: Who's purchase agreement do you use when buying thru a realtor?
- Flipper
- The Colony, TX
- Posts 15
- Votes 25
I want to use my purchase agreement since it has my escape clauses. A realtor I'm talking to about some foreclosures is stating that I must use hers in Texas . Is there any way I can use mine or am I stuck using hers?
Post: Sherman Bridge Lending User Beware!!
- Flipper
- The Colony, TX
- Posts 15
- Votes 25
that's unfortunate Emmanuel. I just spoke to them yesterday at a mixer in Dallas. I was thinking about going with them. Has anyone else had a bad experience with Sherman Bridge Lending?
Post: How do you keep buying rental property when you run out of down payment money
- Flipper
- The Colony, TX
- Posts 15
- Votes 25
Originally posted by @Wilson Churchill:
I've never had a down payment before. So far, I have paid "cash" for each home and later refinanced to get more cash back than what I put into it.
Hi @Wilson Churchill,
This sounds interesting. Care to elaborate how you accomplish this?
Post: How do you keep buying rental property when you run out of down payment money
- Flipper
- The Colony, TX
- Posts 15
- Votes 25
Thanks everyone for your quick replies! I appreciate the conservative approaches and I sincerely appreciate your responses. I am a bit older and am looking for creative approaches so I also thank those who have and continue to post creative ways to get past my problem as I am wanting to accumulate rentals before I retire. Thank you all! Please keep the ideas coming if you have any!!
Post: How do you keep buying rental property when you run out of down payment money
- Flipper
- The Colony, TX
- Posts 15
- Votes 25
Originally posted by @Randy E.:
I trust and believe that others can create investor homeownership out of creativity and wile, but I only know of cash and credit (based on collateral.) For me, I saved and saved and saved until I could purchase another ... and another. At a certain point, when you have enough equity in your properties, you should be able to take out a portfolio loan to help buy additional properties. But even then, unless you have unlimited access to cash or credit, you'll hit a period where you don't have the wherewithal to purchase more properties. At some point most of us have to exercise patience.
The portfolio lending option sounds good. I'll look into that as well! Thank you!
Post: How do you keep buying rental property when you run out of down payment money
- Flipper
- The Colony, TX
- Posts 15
- Votes 25
Originally posted by @Eric Hrlbock:
If you find deals that are good enough someone will always help you w financing. Or there's always wholesaling it to someone else or partnerships. I am in the same situation right now. I bought three rentals in 16 months and I'm in contract for 2 more. I put admenents in the contract that I can wholesale,assign or partner w someone else just incase I couldn't buy it myself.
Of course! Wholesaling is a viable option! I knew about this but needed someone to put it out there for me, thanks!