All Forum Posts by: Kon Zel

I stand corrected @Dmitriy Fomichenko.  Thank you for the insight.

Haven't used it for real estate yet, but have been on the lending club platform for several years now as an investor.  Generally good experience, and I continue to fund loans on there.

I'll wait for the CPA's and lawyers to chime in, but in my eyes that seems perfectly kosher and you could collect the fees as yourself (not SDIRA). You would be the sponsor on the deal, while youre SDIRA LLC would be an investor.

Let's see what others say.

Not sure what you're looking for exactly, but NPL notes (or RPL notes for that matter) are often sold for a discount to the face value.  

Other than notes, liens are another avenue.

What was it that it wouldn't do?

Delayed financing is an option, but you're limited to the lower of 75% LTV or your purchase price with all closing costs. You can start the process the day you close with cash or hard money on the place.

To use an example, lets say you bought a place appraised at 100k for 65k cash and put 10k into it.  Your max loan amount would be 65k (plus closing costs).  

Only other option is to find a portfolio lender that doesn't have those seasoning requirements.  They exist out there, just have to keep looking.

What's your issue with putting your name on the loan?  From my perspective it seems like you only have to gain, as your partner can supply the needed capital.  

By being on the note, both you and your partner will share responsibility for it being paid. 

For my out of state properties, I rarely see the current lease, yet alone sign it.  Only time I see it is when I'm purchasing the property or when I'm refinacing and need it to show my lenders.

 You say that, but I'm in the exact same camp and am still finding deals.  Currently UC for a 4 unit and a 2 unit.  

Just need to dig a little harder in areas like NJ, NY, CA, etc.  

I think most investors eventually move toward MFH as the scalability is much easier.  I'm in the same camp and find myself pivoting much more more towards the MF space.  Looking to add some 2-10 units properties as well as syndication in the next 12 months.