All Forum Posts by: Jimmy Moncrief

not sure if i understand your question?

@Karen Pratt seems to me like you simply need to find another bank!

I lend to them all the time!

I only buy multifamily and I'm a commercial lender so hopefully I can help! :-)

There are a ton of different ways to structure it.  

The standard deal is 5/20.  Meaning 5-year balloon and a 20-year amortization.  At some banks the loan matures after 5-years but at others the loan simply floats.

Note, you can get a lower rate if you are willing to do a 1/20 or a 3/20 deal.

80% LTV is required. However, if you have another property you could pledge that one as well...

Did that help?

@Allison Leung THANKS!  I didn't know this feature existed! 

@Luke Holcomb I do a lot of construction lending in Chattanooga - let me know if you need any details on that...

@David DuCille what do you think about Queens? 

agreed - just make sure your K-1 reflects all this...

@Jonathan Twombly where in the southeast do you invest?

lol

duplexes and best school districts don't always go together...

I buy them however, just for long-term..

Let me know what types of problems you are wanting solved with books and i can give you some specific recommendations.

Automatic Landlording - by Mike Butler is solid..