All Forum Posts by: Michael Bush

Ill listen to your pitch when ready..

Chris - $850,000

Under contract - 6 lots / 5 homes 1500sf
permanent foundations - long term tenants 
all remodeled with very nice finishes
high 8 cap
1.79 DSC Ratio
Value add opportunity: Adding the extra home on lot 6 will make this good property a great one!
Each lot is individually pinned.

Turned down 15 times and counting. Of those 15 only 3 looked at the MLS and my proforma. All said it looked great but..I'm now cold calling from the web.
Commercial loan officers what am I missing? Any suggestions?

I have a contract on a 6 lots / 5 manufactured homes. Proforma is great, high 8 cap, 1.79 dsc ratio. All remodeled with luxury finish on permanent foundations.

I have been turned down 15 times and counting with the area banks. I’m now cold calling from the web. So frustrating.....

TenantCloud has been great for me.  

Let me know when you find one. My last deal tanked cause I couldn’t get funding. Although it was a commercial loan over a million. Oh well.Good Luck.

I messaged you. Thanks

I have an apartment complex in Spruce Pine. I have another under contract in my hometown of Black Mountain.

NC is competitive.

Turned down my CASH offer because it seemed "fishy". I had no contingencies except for home inspection. They went with the guy getting a VA loan. oh well. I really wanted that property. That's why I offered CASH!!!!

Nashville > LA/Cali > Denver > Indianpolis > Blk Mnt NC

I prefer East TN and Western NC...Don't move here its horrible;-)