All Forum Posts by: Lanny Necaise

@Roseanne Carter welcome aboard!!! Feel free to reach out to me if you ever need anything. 👍🏻

I was in Nashville this past week and heard some interesting information.  Nashville just topped the charts as the most expensive hotels in the country surpassing New York and California.  I believe short term rentals could be very profitable if you find the right deals.  

@Dion Martorella commercial loans can be used to refinance a property in a LLC. I use a couple local banks and all of my properties are in LLC's.

@Jonathan Luna both properties are currently rented and performing great. He is content holding the note so I am not planning on refinancing for a few years.

@Caleb Haney sorry man, these are no longer available.

Currently have two seller financed properties.  These deals were structured on a 5 year term and 30 yr amortized payment @ 5% interest.  One property I am keeping as a rental and the other I am selling with a Lease Purchase Option.  The lease purchase option provides a nice down payment with better monthly cash flow. 

Did not take much negotiating on these properties.  The landlord was tired of dealing with maintenance and tenants.  I offered him a monthly payment and he did not have to deal with all of the issues that comes with rental properties.  I explained to him that after we agreed upon a term I would refinance the properties and cash him out.  At the closing table his wife couldn't stop thanking me for taking the burden off from their shoulders.  Sweet couple and it was a win win for both parties.  

Find a local investor and provide some value.  Work, listen, learn and repeat.  Look for investor meet ups and surround yourself with those who are doing deals.  

@Aaron Bitner I would suggest you reach out to some hard money lenders and make sure you meet their lending criteria (credit score, available funds, LTV, locations, etc). Some will do a pre-approval so you are in their system but I prefer to wait so they are not pulling credit reports when its not necessary. It looks like we are in the same market and I have used a hard money lender that was able to close on a 4 day notice.

Great potential in the Fountain City area.  Let me know if you are interested   Fix and flip or rental  

ARV = $135K