All Forum Posts by: Nick Radwin

Nick Radwin has started 2 posts and replied 21 times.

Hello, I’m in the middle of securing my first multi family property. I have the funds, and 700 credit score, but unstable income.

What are the best options to lock in lending for this deal besides getting a co-signer? I’ve heard hard money lending, private lending, and gap lending could be answers to this situation. Are they good answers in your experience?

Or should I suck it up and try high down payment owner finance and say **** lending?

1 Vote

New Orleans, Louisiana

Quote from @Joey Banasihan:

Hey @Nick Radwin, welcome to the coolest strategy on BP! Hahaha kinda kidding but kinda not haha. To answer you questions briefly, most times its not so much a proposal or pitch, its building relationships with these folks. Insurance companies have websites that you simply list your property for free, and if it matches their criteria regarding the people or family being displaced regarding space/need/amentities, etc. they will reach out. Structuring is really going to be whether their timeline, compensation, additional insurance, policies, etc, align with your space.

Other avenues around government or coopprate housing/agencies is researching them, making contact with them, and simply building rapport and trust over a long period of time (12-18months). Consistency of contact, staying top of mind, and building a relationship is what will give you an opportunity to be contacted consistently by them. I recently negotiated with an agency for ending of 2024 for 12 months, and that took 10 months of me building a relationship and staying in contact with them etc.

Hope that helps provide a framework. I started with Furnish Finder to learn the ropes of MTR for a year, then I began moving into agenicies and working that for the past year to hopefully start that new phase in a year.

Thank you so much Joey! I will list on Furnished Finder and start talking to the people at the gov’t agencies

0 Votes

New Orleans, Louisiana

Hi! I'm new to the medium term rental strategy, so I wanted to ask the more experienced members here: how do you go about writing a proposal to insurance companies, government agencies, construction companies (or other orgs) to get them to have their personnel stay at your properties?

Also who do you talk to within those organizations to structure a deal? Lastly how do you structure your deals?

0 Votes

New Orleans, Louisiana