All Forum Posts by: Matt Ridenour

 Hi Sean.  My brother lives out there.  I'll try and connects you guys!

Thanks for weighing in everyone.  I'll share your thoughts with him, and hopefully get him into the bigger pockets community.  

Hi everyone.  Asking for my brother who is in a different part of the country than I am.  He purchased an Airbnb and has it up and running.  He used hard money to purchase and renovate.  It's been less than a year and so the mortgage companies won't touch it.  (I should also mention that both he and his wife are self employed.)

My suggestion was a dscr lender, but he is telling me he spoke with a lender regarding that with no success.  I am thinking all dscr lenders have different criteria?  HIs current rate is 9.75% but is adjustable and balloons in 5 years.  I'm hoping he can find a 30 year loan so that he can get out there and grab the next one.  

Does anyone have any thoughts on this?

Oh, one more.  Who is investing in the Danbury CT area?  

Thanks Luis.

It isn't listed for sale. I've had some pretty great success calling (small) banks and speaking with their REO department. I've had my eye on this property for a while, and I'm hoping it's just tied up in red tape. I got my last bank project because I was proactive about calling them. Waited a year for them to cut the tape on it and then they sold it to me for what was owed.

Hi all,

Anyone have a decent number to contact the REO people for Huntington Bank? I have a property in my sights in Michigan.

I looked on their reo website and found only dead ends.

Finally coming back to this thread.  You guys are awesome.  Thanks so much for this.  I'll be working through these responses and will try to update on my actions.  

 Thanks Marcus.  I'll start asking around locally for a tax advisor.  I guess I'm looking for more than tax strategy though.  I'd like to find a business coach that can help me work through highest and best use issues.  Flipping and buy and hold are going great in my market.  Also launching my first Airbnb and I'd really like to find someone that can help me add a zero.

Thanks again for the input.  I'm on the case.

 Thanks David.  Exploring.

HI everyone.  I'm looking for some help finding a wealth coach.  My real estate strategies are paying off well, but the taxes are crazy and I'd like to focus my machine a little, with an eye on legacy wealth.   I am looking for someone who can listen to my ideas and help me refine my approach for optimum financial gain.

Thanks all!

@Dave Foster thanks for the reply.  Long time no talk.  Hope you are well.  I still may try and 1031 that property into something bigger and better.  I'll reach out soon.

Thanks again!