All Forum Posts by: Nigel Guisinger

Sounds like you need to find one of two things. Either you need to find a seller carry where you use some of your cash and you have them carry the remainder. Or, you find a small local bank. Write a business plan.  Place the money in deposit at that local bank and borrow based on the plan and the deposits. They will look at the global portfolio.  You have the ability and tools to succeed. Just look for a different funding option. Your local bank needs you just like you need them. 

Buy in an LLC and use a local bank that holds loans in house

I invest both in Oregon and out of state. The laws here in Oregon have changed strongly in the last 2 years. It has made flow flow difficult in many of the major cities here. There are other markets that will get a cash on cash return thatis much more difficult to do here with the new laws. That unless you plan on making a large down. 

Do it. You should reward yourself and have thought this through. Yes you could invest for more returns but the entire reason for investing is to create wealth and to do what you want to do with that wealth. Frequent lay we all stash cash and parlay our real estate and never get to enjoy it. So do it as long as it doesn’t hinder your long term goals. 

All offers are subject to requested information and acceptance of the finding a of those documents. I would write up an offer worst case scenario and tell them that it has to be a low offer because you assume everything needs to be repaired or replaced. Make them prove otherwise.  

To me there are a few things to consider. If you are a full time flipper and cover this you are setting a standard for all future flips. Depending on where that line is will really determine what I would do personally. If the line is in an area that I had tricks on or material stored and if the line is shallow I’d probably take care of it because I want to make sure what I do it down right. If the line is somewhere that the new owner drove over it’s on them. If you look at a collapsed pipe you can tell What the cause is in many cases. A sewer scope is a few hundred bucks and can tell you if it’s due to vertical load, horizontal load or root intrusion. If it was cause by you pay for it and move on. If it wasn’t offer a fair solution because doing what is right always pays off in the long run. 

We all started somewhere. Some were blessed to be born into real estate. Some had great mentors that gave decades of advice and helped steer away from bad choices and helped encourage good choices. Some came from zero and clawed their way to success. Other have worked hard and failed and got an education on what not to do. This community is fantastic because it is a source for more knowledge. This is a place to measure up balance sheets and peacock, it’s a place to genuinely help or ask for help. That’s what’s so great about this place. Those that can give advice and experience can and those with questions can ask. 
personally I’ve Self made millions and am glad to help with free assistance. There was a great statement made at the Bigger pockets conference in Nashville and it’s super true. “Once you get to the top of the mountain Look around but then take a moment and throw down some rope to help the next guy.”  I’m no better than anyone else but I’m here willing to both throw down my rope and help pull others up to make their journey easier. We all had assistance one way or another. 

What you are thinking about is standard financing. Use commercial lending. You can hold as many loans as you can qualify for. The rates aren’t as low but the upside is huge. I’ve used Commercial lending for both large and small deals. 

Thinking I was being nice by not enforcing the contract to the letter of contract. I wouldn’t enforce the late fee because they had a sad song and dance. As a result rent was always late. The guy damaged the property when he brought in roommates that weren’t on the contract and so I had to deal with that too. Overall I lost every dime of profit from that year when he moved out but it made me a better investor long term. Now I use third party management. 

Darin M.  I used Veristone. I have used them before and they were willing to lend on this deal because we’ve done work together in the past. I did have a backs up of LendingOne and another local source.