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All Forum Posts by: NaDean Bowles

NaDean Bowles has started 8 posts and replied 134 times.

Post: South St. Louis City Duplex for sale

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

Why are the rents so far below market?  What condition is the building in?

Post: Hard money lending for BRRRR

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

As a loan broker  I can tell you that you will not get a loan on your own residence.  It's a legality no commercial lender can sidestep.  

There is a fair amount of private money that is available for loans as well as hard money.  Sometimes you make payments during a rehab but you always consider those costs when making your offer.  Typically these are interest only payments.  Sometimes those costs can be rolled into the loan as well.  Sometimes your loan will be a percentage of the profits at the end of the project when you're selling it instead.  There are multiple avenues, something to work for everyone.  I hope that helps.  

Post: How to obtain a 30 yr fixed mortgage under an LLC

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

@Drew Kessler, bumping the previous post.

Post: How to obtain a 30 yr fixed mortgage under an LLC

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

If you use a private money lender that finances for 30 years and loans to LLC's, then yes. Yes, they exist.

Post: Self employed and unable to get loan

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

@Jordan Lester, you can also get a 'no doc' hard money loan where they don't look at your tax returns.  Or since you have the experience you may not need impressive tax returns to seal the deal.  Private and hard money lenders either are or have typically been investors themselves so they know how it is.  

Post: Commercial financing question

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

@Michael Vallee, please forgive me.  I've been trying to reply to this one post for a couple of days but it wouldn't take.  

Is that building in a good area?  An up and coming area?  Perhaps it has been the eyesore of the block?  The property will be worth more once it's filled with tenants.  I think it would be worth paying for an appraisal, attending it yourself, and having frank discussions with the appraiser to get their opinion.   

Post: Legality of a Loan Brokerage Name

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

Thank you all for your input!

Post: Commercial financing question

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

@Michael Vallee, I wouldn't have any trouble getting that loan financed as a broker if no red flags popped up.

Post: How to execute BRRRR remotely? Looking for help getting started.

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

@Lucas Mills got it and replied.  Around 2-4CST.

Post: How to execute BRRRR remotely? Looking for help getting started.

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

@Lucas Mills, I believe we should talk.  I've looked into so much of this and have done some of it.  I tried messaging you but I got a 'BP is updating right now' page.  Call me when you can and we'll discuss it.  My number is in my profile.  I  have a friend in Springfield too that tried investing there.  She also says it's just not the market.  

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