All Forum Posts by: Jose Ortega

Thanks everyone for the information. This has been helpful!!

Thanks for your response Patrick. $20M+ as in the mortgage notes being over $20M? We are starting a private credit fund which would fund the original loan made to a value add investor. We are going to start with raising 10M for the first go around which is definitely doable as we raise funds for our other side of the business as value add investors all the time. Our main experience lies on the purchasing side where we own about 4,000 units across the southeast. We are just looking for that one smaller bank that would help us get started but we plan on this being a new venture for our company and eventually raise well over 100M.

Just wanted to share that as further background.

Hi all,

I wanted to see if anyone out there has ever borrowed funds using a mortgage note as collateral. I know there are HELOC loans out there but that would be more for a mortgagor. In this case, my company would be lending the funds to a multi-family value add investor and I would like to see if there is any banks or private investors that would lend using the mortgage note my company would have as collateral.

Any information would be greatly appreciated.

Hi all,

I was wondering if anyone in NC has dealt with a tenant crypto mining at their rental property which caused significant increases in utility bills (for furnished rentals with utilities included). Is this a true situation? If so, how did you deal with it or what verbiage did you use in your lease to prevent this?

Any guidance would be greatly appreciated!

Hey everyone! So after buying my third property I have ran into DTI issues. No problem getting a loan to purchase a property because I can use a DSCR loan but in getting a HELOC on one of my properties to use as a down payment. I tried going through BOA and they told me my DTI was too high. I looked into refinancing but that didn't make sense since my payment would go up by a little more than 1000 dollars a month. Any advice on how to proceed in getting some of that equity out would be greatly appreciated!

Thanks for that advice guys! I would also like to know how to go about taking money out against the equity in my properties. What would be the best loan to look for?

I've been juggling the idea of using some of the equity in my homes to buy a couple more properties but don't really know which route to take. Would it make since to buy something I can BRRR, or buy something that's more turnkey in today's market?

Any advice? 

Thanks!

Thanks for the recommendation everyone. But yes I live 3 hours away. I would much rather do everything manually and I will for the most part but would like to get a head start on automation. Getting familiarized with all the tools and how they could help will be useful in the future. 

Hey all. Getting things ready to launch my first STR and wondering what systems you all are using to automate your listings. Also, any helpful tips would be greatly appreciated!

Hey what's up Shane! I actually did attend a meet up two months ago that you hosted in Clouds. Wasn't able to make last month's meet up but hoping to make this months! Would love to hear how that condo turns out for you man. Still trying to decide what I should do since it seems hard to find an ocean view (or front) condo that lenders are giving second home loans on in myrtle. With that and looking to purchase a STR in Raleigh too it's got me all over the place.