All Forum Posts by: Pat Leri

I'm trying to find an equivalent of Accept.Inc (which is lending to individuals) for Asset-based loans (which is lending to LLC's).

I want to finance my next deal with an asset-based loan but a closing time of 45 days will hamper my chance of winning the deal overall.

Accept.Inc is giving you the opportunity to make a cash offer to the buyer and organize the loan afterward. But they do this only for loans to individuals.

Anyone knows an equivalent to this for an asset-based loan? Or any other idea to make a cash offer not wanting to put out personal cash in the first place?

I will be coming to the event but hoping to be an "experienced" investor in some years from now and able to share my experience. Still starting out :-)

Hi, @Jason Shackleton and @Ned Carey thanks so much for your explanations. Yes, it's clear now.

I'm buying a house with all cash I have to reduce the price (to have the biggest possible gap between the purchase price and ARV), then I'm planning to do the cash-out refinance to purchase another property and use the income from the first to pay of the mortgage of the second. Then I would refinance house number two at some point and take that cash out to purchase a third and pay it off from the cash flow of the 2nd. That's what the BRRRR is all about, right?

Does anything speak against ALL cash in into ONE property for the first deal?

So help me in the last part of BRRR.

Understand BUY

Understand REHAB

Understand RENT

Don't understand completely CASH OUT REFINANCE.

I'm trying to understand: Do I actually get cash in my hand which belongs to me and can keep OR do I get cash I need to pay back like a loan. Or both of it.

What exactly is the difference between 'refinance' and 'cash out refinance'.

In my case I buy the first property with cash. I don't finance (I do this to push the price down to get close to the 70% rule). After I REHAB, RENT I'd like to have cash again (since all is gone in the first house) to buy a second house.

Additional to cash for a down payment I need a loan (since the cash might not be enough). By right I can get a loan based on my income. Why do I need the house as a security?

I might be in a total wrong path here.

@Ivan Alvarado I do Airbnb since 10 years. The think what a Management can do what you can't do should be selling your rooms.

If they don't apply dynamic pricing, additional marketing campaigns,... to get your vacant nights booked than the main benefit of a management company for Airbnb is not there.

See their listings, are they booked out on Airbnb/VRBO or are they open. That gives you a direction.

See in Airbnb if you can see a host which acts like management company  (Host name is not a private name but a company). That's a good way to start to find active ones in your area.

30% is a lot. It's on the top end. Airbnb takes another 5%

A management company has to offset your loss due to vacancy. If you have both cost it's reducing your cashflow big time.

Hi, I'm about to make my first offer on a house.

What I have analyzed so far

(It will be an Airbnb type rental)

- cashflow (for sure)

- prices of comparable properties in the neighborhood

- amount of property tax

- amount of insurance

- amount of utility cost

- zoning

- location, neighborhood

- reading reviews of nearby airbnbs

- neighbour properties and their future plans

- rules for said property around STR

WHAT DO I MISS????

If I make an offer do I need to put money in escrow immediately? Or do I have some more time to investigate more in detail, just to confirm.

@Cody Lewis

Hi Cody, could I talk to you directly? Im about to invest in Charleston and would want to talk to someone who knows the market.

@John Felix Perez

Like your story, congratulations!

@Cody Lewis

@Ryder Cotton

Only with STR it makes financially sense. With long-term the income is a 1/3rd which will not cashflow.

Yes you are right the city might come over me. But honestly what I have seen so far they are grandfathering past rights in.

Meaning all Airbnb which existed before they made the rules all can legally continue.

It's Charleston. And the location is walking distance to downtown.

What's your background?