All Forum Posts by: Kyle Novak

What was your LTV then? What do you consider over leveraged?

The great thing about “private” lenders is the terms are completely between the two of you. Currently most of my private loans are fully amortized 10-15 years. You just have to find a good enough deal to cash flow with those numbers. Or plan to refinance the property with a bank once it’s stabilized! Anyone can be a private lender, friends and family are the easy ones to ask first, after that it takes a bit more skill. 

@Dale Vance why are you against buying in canton? 

@CJ M. I’m also local to the canton area and currently have 8 doors. Would love to meet up and network. Pm me if interested

There is a weekly meeting in canton south, every Wednesday at 6pm at McCall’s on Faircrest rd off of Rt 800. 

I found a off market triplex that I’ve had a verbal negotiation with the seller and would like to make a written offer. My question is how do I structure this and what terminology should be in this offer? Can I just write it like a normal paragraph. Could someone post a template or give me some direction on how to write up an off market offer with no agents or lawyers involved, thanks!

I would use some private money lenders who pay for the whole purchase price, then either ask for 5k in repairs or put the remaining repairs on a low interest credit card and pay off quickly. 

what time? 

@Michael Le so how would you pay that huge balloon without selling the property? 

Thanks for all the comments!