All Forum Posts by: Mark Langdon

Find someone who is doing what you want to do and partner up with them on a multifamily. After that you can see if that is where you want to go. I did the typical path of Fix & Flips to Small Multifamily to Apartments. If I knew in the beginning what I know now; I would have jumped right to apartments. Happy to discuss !

Do the right thing and get it done. It may not be a problem or it could be a big problem. Its not expensive to do and will come up when you sell. 

I always just look up every bank/credit union and just start calling. Its not easy to find an HELOC on an investment property but they exist.

Best thing I always say is to partner up with someone who does what you want to do on a deal. You will learn how it gets done and see if that is where you want to go. Happy to discuss

Being accountability is a great way to show your serious to others and they also push you along and keep you honest so you feel guilty if you don't follow through. Just keep going !!!!

Better to find 1 apartment building vs. all of the duplex's with a property manager. You can get lending much easier on an apartment building as long as its occupied and cash flows.

Its about the velocity of money. Sell and 1031 it once you find your next investment that you want to pursue. 

Got to go with a bridge loan. That is made for this situation. Bridge loans are not so easy now but worth looking into. 

I used HELOC's to give me financial freedom from fix and flips to small rentals and now apartments. Best use of the HELOC would be based on what you like to invest in. I have multiple HELOC's and they allowed me to expand my portfolio tremendously. The rate is not the best but if you can make the numbers work; who cares. Its not easy to get HELOC's on investment properties so use your 2nd home one to propel you to where you want to go. Only you can decide that.

I love credit unions as they usually don't charge a pre-payment penalty so you can sell at any time. I used one for a 28 unit apartment in Louisville and they were very easy to deal with. Now that's after I called just about everyone out there as the posts are correct that they don't like absentee owners who are not local but I just kept calling and found this one. I try every deal to use one as the terms are usually very good but its not easy to find one.