All Forum Posts by: Philip Tuazon

@Mack Benson thanks for the reply. I believe my first attempts at a real syndication will be very small deals, with non-accredited investors, so a 506(b) most likely. I guess once I have an actual property in mind that I’m serious about, I will personally discuss it with the number of family and friends who are smaller scale investors. I do aspire to get to the 506(c) deals eventually!

Would a Facebook post saying “who has some money to burn and wants in with me on this $3.2M property?” Even in jest (no link to the property even posted) constitute soliciting money and be illegal? Sorry if a dumb question, but I just posted exactly that and was purely curious if it is frowned on, and it struck me “what if they think I’m serious? What if I am in a crazy way, just a little bit serious? why not ask bigger pockets?” Thanks

@Tom S. Awesome thanks for the deal “deep dive”!

@Chris Mason ahh bingo. 💡Thanks!

@Elise Marquette yep I know it must be professionally appraised to ascertain the value, and what I’m trying to understand is how do I get the lender to offer me a loan based on that appraised value of $150k versus giving me a loan based on the $100k I paid (in which case I would not be able to pull out any capital to reinvest, and likely would not be able to pay back a hard money loan if I had used one to fund the original $100k of purchase and rehab).

Is there a proven track record or investing “resume” I need to have under my belt first for a lender to agree to give me the loan for 70-80% of the $150k or is not unheard of for a new investor to also be given a loan like that? Thanks!

@Todd Rasmussen thanks. That makes total sense. If they give me say an extra $30k over cost, then that’s another $30k they are making interest on correct?

@Todd Rasmussen sorry I mean a loan that gives me say X% of the appraisal value versus X% of the price I paid for the property. My understanding so far from David Greene's book and the podcasts so far is that for a BRRRR to work you must somehow get the refi at appraisal value, assuming it's more than you paid to buy and rehab the property to quite literally get paid for the property and that this is how you have cash in hand for your next deal.

Just trying to figure out how, why, and when a lender would be willing to do this for somebody. Especially someone starting out. Why should they put extra money in my pocket above and beyond the total I paid for even if it is worth more due to the forced appreciation.

Hi, newbie here. Still trying to wrap my head around the refinance part of the BRRRR process. What's in it for a lender to offer me an LTV loan? When are lenders more likely to offer LTV loans, market wise, and based on me the individual? And how and where do I go about finding one or negotiating one? Are these usually "pretty please" case by case basis situations or is this a product that many lenders usually offer? Thanks and sorry if this has been asked.

(For specifics: I’m northern Virginia located, hoping to start with investments in southeastern and southwestern Virginia. If you’ve also got market specific insights I’d also love to hear it.)