All Forum Posts by: John S Lewis

Hello All - Doing a renovation of a mixed use property that I'm converting to a duplex. I'm looking for a lender that will refi me based on NOI and cap rate. I will have raised the NOI of the building multiple fold when the project is completed.

Thanks.

Hello - can my wife use her IRA to invest in my LLC? Not as a real estate investment, per se. But more like a note payable? Also, she is still working, but has a 401k. Can she take some of that money and put into a self-directed IRA? Can this be set up as a check book LLC?

Any other recommendations ?

Thank you.

thx @Chris Seveney

Hello All - I bought a mixed use building that I've gotten a use variance for so that I can make it all residential.  There are 2 units.  I'm considering turning it into a condo so that I can sell each unit individually.  Does anyone have any experience in doing this?  I'm trying to gauge how to value the final product.  My choices are leave as legal duplex and rent, or convert to condos.  Any guidance is greatly appreciated.

Thanks.

In South Jersey, I need recommendations for investor friendly parking lot person and/or mason to install a drain along part of my parking lot and remove exisitng lines and restripe in new configuation.

Thanks.

John

@Norm Chrostowski  looks like no one responded.  I stumbled across is info.  Did you ever do anything with him?

Has anyone used this service?  They say they can bring you a buyers list and leads, and this and that, and blah blah blah, lol, and give you a money back guarentee if not happy with the service.  Any real reviews appreciated!

@Andre Taylor thanks.

@Cameron Price - they don't seem to have that option for my corp business card.  :-(

@Alex Bekeza - thanks. I don't have a ballooning note. I was in a deal; it would've been a great buy, fix, rent, refi. The HML at the last minute jacked up the interest rate from 8.99% to 12%, and doubled the points from 2 to 4 for the rehab period. Also, they then required 6 months of interest reserves to bring to the table, not just show them in the bank. So these terms made the deal untenable. I then saw many emails from other big nationwide HML's about stopping the 30 yr fixed product. I was in line for a very good rate at the time, on the 30 year, at the back end. But it went away.

Does anyone know of any lenders still doing 30 year refi loans on rental property with just asset based criteria?

That was my main BRRRR strategy and it know seems like its gone.