All Forum Posts by: Richard Bull

Thank you for the feedback @Clint Moore @Kyle Smith and @Jack Barkow  I understand that the answer is probably going to be no, but I want to keep trying and finding solutions to things like this. I just have to tweak my approach and continue to ask the right questions. Thanks a lot for you this! Hopefully I can be of help to you guys in the future also!

Hi! Thanks for reading this and helping. Can anyone recommend a local bank that you may have a relationship who I can work with me for a conventional loan on a duplex. With 25% down, the loan amount is only about $38,000, and the cash flow is pretty good. 

I have not been able to find a local lender that will provide loans under $50k. I am hoping that there may some opportunities with local banks. I am from Out Of State, thus, asking for advice or referrals from my friends at BP! 

Thanks again! - Richard

Can we make this happen on Tuesday, March 13 at 5:30pm in Valencia?

sounds good, I am up for it! Next week, the week of March 5th works for me. Can we nail down a date? How about March 8th? morning, evening?  

Hi @Brian Singer let me know if you are working on any future flips in the area. Thanks!

@Samuel Gostnell thanks for the helpful information. Did you finally close on a place in JT? I am exploring the area to set up an AirBnB rental. 

Hi everyone! I am interested in a meet up, let's do this. I live in Santa Clarita also. 

@Jay Hinrichs thank you for your great feedback and expertise as usual. Local banks will most likely be off the table for me since I am from California. 

@Harjeet Bhatti thank you, I will have to make a the decision if it is better to keep more cash for the next deal and not make as much positive cash flow with a 15% down + MI (may not be worth it). It will all depend on the specific deal - case by case.

Thank you @Brent Coombs @Jay Hinrichs @Harjeet Bhatti  for confirming this info! 

Thanks @Brent Coombs Just looking for ways to stretch that dollar while rates continue to be low and save my cash for when the correction comes. Will look into the 15% option. 

I am trying to stretch my buying power by ideally using conventional loans for rental properties with 10% down (if this exists). Thus looking for a situation where I can move away from PMI once there is more than 20% equity in the home. From all the loan brokers and banks that I have spoken to, I have only been able to purchase my previous properties with 20% down -- a requirement for investment properties. I primarily invest in Indiana and Mississippi.

Wondering if there are any alternatives or any area where I am not looking and should be. 

Separately, if there any small banks and loan officers from that anyone can refer to me in these two markets, I would very much appreciate it. 

Thank you!