All Forum Posts by: Michele B.

Why not HELOC instead of cash out refi?

What do you have as a down payment, what is the total you need the loan for? WHat LTV to you think you will get? What is the term you need to make it work financially.

Using an LLC you will need 25% plus closing costs. Then you need to find a lender. IF you know what it is you want to purchase then ask for a non-conventional or a commercial loan for that amount.

IF you buy without LLC you can usually get a lot better interest rate and longer terms with no balloons on it.

IF you have further questions just tag me. 

Commercial can go from 5-35% down.  35% down on commercial is normal depending on what it is. I have seen it go to 50%.

 At the top it says TOOLS that is where they are for me.  Let me know if that doesn't work.

I would ask the owners to do seller to you it would be basically the same thing as renting and they know you pay. SO they can agree to payments and maybe a premium.  Tell them to do a land contract. That means you have to pay interest. But if the numbers work for you then its great.  If you buy the house you do not have to rehab it right away .....

Good Luck!

Have any other questions  tag me and i will respond. 

why pay use the one here on bp?

You could do a couple of things.

1. Borrow the down payment from a friend

2. Find an angel investor or an equity partner

3. Wholesale the property to a someone to make a property.

IF you have any question please tag me and I will respond

I agree if you are getting nothing for your money for a long time it is not using your money to get your time value of money....If you invest 10k now what is it worth in 18 months? It should be around 10578.00 that is at 5% interest on your money. So if you don't use that money for something other than this project you will be losing over 867.00. I know that isn't a lot of money but I would like it if I had it. 

80% LTV between 6-8 % interest, and 2.5-5 points is what I see.