All Forum Posts by: Melissa McGuire

Hi Max

I could be wrong about this but I think that once you hit 5 units its considered a commercial property.  This would make a difference in the kind of loans available to you. You said your rate was 4.75$ There are programs available threw commercial lenders at 3.85%. They have to be for 5 units and up and the loan has to be 1 million or better. That being said you could add another property to this one if it went over 1 million and do a blanket loan.  Im just coming up with this off the top of my head. I hope it helps.Good Luck

Melissa McGuire

I still can't believe I've been given this oppertunity.  ALL THAT BEING SAID I'm not able to close the deal. Either they don't hit the million dollar mark or theres something I don't know what I'm so frustrated and confused I''m at the end of my rope. I refuse to throw in the towel but I cant for the life of me figure out what the heck I'm doing wrong. Can someone Please give me a little guidance here. Some one throw me a bone of wisdom.  I don't want to disappoint the great man who gave me this oppertunity and yet I've been at this for several months and NOTHING. What should I be doing different,

Thank You 

Sincerelu

Melissa McGuire

Hi Troy,

Im sorry Im really new at all this and dont know what a DM is but my email address is

[email protected] Hope to hear from you soon

Sincerely

Melissa McGuire

Have you thought about buying a duplex living in one and renting out the other one. That way someone would be helping pay off the mortgage. And when the time is right move out to a different duplex and do it all over again. That way you'd be building you RE portfolio slowly but surely. I don't know it's just a thought.

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Hi Im going to be flat out honest here I don't know sqwat about this stuff, that being said i have looked all over the BP site and ive notice alot of duplexs some 4 plex too. If you guys bought one of these you could live in one or two of them and rent the others out. It's not uncommon to see 3 dupleses offered off market or by a seller who wants to retirer or whatever. Price very often for such an offering are many times the same as what you'd pay for a single family home. And with this kind of rental if one tenant leaves it not such a hit as it would be in a SFH. Small multifamily are the way to go I believe. I hope this helped. good luck

Melissa

Oh ok is that my "in box" or is there some other place I don't know about. WOW THIS SITE IS ASSUME!!!!! What don't they offer? Thank You for the info. its much appreciated.

The tax bill for sure would be a good start. But sometimes they aren't super current. But If you went to the clerk recorders office and pull the file on those pages will be everyone who has owned that property or has a lien on it and who in herited it and when. You can start the skip trace but until you have the name of who owns it on paper you might be skip tracing a nephew who saw an opportunity to make a little extra cash after their relative pasted. Stranger things have happened.  Good luck

Can you please send further info thank you

Melissa McGuire

Dear Mike,

Thank You for responding to my question.  I have been following the good advice given and things are working out great.  Ive read alot of really go post on many different subjects, add my 2 cents where I could, and learned alot. Please dont laugh but what is PM anyway? Ive seen it a bunch and dont know what it means.

Sincerely

Melissa McGuire

Hi I never got anything back about this offering. Is it still available

Melissa