All Forum Posts by: Paul Thompson

I'm looking at single family & 1-4 unit properties. BRRR'd 3 properties last year using a line of credit. Wanting to double what I did last year so looking at some additional financing options

Looking to network with any private money lenders in the OKC market. Analyzing a few deals this week. Waiting to refinance a project we just completed but still a weeks out on pulling that money back out.

Thanks

@Andrew Postell Yes purchase cash, fix up and then refinance on the back end.

@Andrew Postell Not looking to go conventional loan since I’m looking to bring on over 10 properties over the next year or so

@Andrew Postell Yes it’s a small local bank portfolio loan. Using this bank since there is no “seasoning” period to refinance. Have also developed a good relationship with bank over last few months.

Just refinanced my first BRRR property. Loan is amortized over 20yrs with a variable interest rate and term is 5 years. What are my options if interest rates shoot up making my monthly payments larger? I don’t want to be in a situation moving forward where all my cash flow is wiped out due to higher interest rates. Thanks

Appreciate everyone’s input. Barrett definitely shoot me the info when you can. Thanks

Spoke with a bank that doesn't require any "seasoning" before refinancing, however the mortgage would be amortized over 15yrs. Is this typical? This obviously would require higher monthly payments that would eat into my monthly cash flow calculations. Do I need to shop around more or is this standard? Thanks

Thanks everyone for you help

For example if I need to put $100K down on a property and I bring $50K and I get a private money lender for the other $50k what strategy should I use to pay the $50k back to lender?