All Forum Posts by: Justin Taffera

James what do you mean by hard money lenders?

Hello all I once again for my 2nd time am turning to BP for some much Needed help. I recently past few months/year have a pretty nice chunk of money saved up. I live in Northeast PA and recently put a bid that was accepted on a beautiful 4 Unit apartment building that is already half rented out. Here comes the Problem I need help with. To purchase this investment property I have to do a commercial loan at 8% I'm fine with that and I have to put down 25% of the price I'm also more then happy with that after all this I would have about 22,000-25,000 to put money into the building and get maximum rents. Problem is I found out this week after paying 550 for the home inspection they can't do the commercial loan because I have a felony that has zero to do with money or anything like I was in a bad accident and my best friend passed away because of it. I'm currently not working witch is why I'm doing the commercial mortgage route but I have the money to put in and extra after for repairs and enough to pay the mortgage for 2 years if I ever needed to do that. If anyone can point me in the right direction or help me out anyway possible please let me know I don't wanna lose my first investment property that is perfect in my eyes! Thanks BP you guys truly Rock on here!!!

Jeremy Pakalka thanks for your reply to my question. That was a few things I have written down already. But it's nice to hear it from someone else that I may be on the right track. Thanks again!

Just recently came into some cash and I am interested in using that cash to invest in RE I've read a few books from BP. I'm meeting with a realtor this Friday to look at a few 4 and 5 unit property's. Just wondering what I should be asking the realtor to see. Most of the property's are about 75% rented out already. Any advice would be fantastic. Thanks again BP