All Forum Posts by: Rich Emery

Hello All,

I recently purchased some land in Northern Kentucky with great city views of Cincinnati.  It's in a solid, up and coming neighborhood with lots of development nearby.  I've completed a geotechnical surveys to ensure the lot is indeed buildable, which it is.

My idea is to subdivide the land (the lot is 120' wide) into 3-4 parcels and market as single family homes.  It is not possible to build multifamily per city regulations.

I'm speaking with a couple builders to guide me along this process, as I'd like to keep a couple of the lots to build single family homes that I'd like to hold onto as high end rentals.

I'm sure there's a million ways to work this....I'm looking for recommendations as to whether I should make plans with an architect and builder and sell the individual, subdivided lots with those plans and builder attached to the deal?  Or sell subdivided lots that are blank slates?  

I'm uncertain as to what would work best from a marketing standpoint.  If I were looking looking to build, my personality type would like plans already in place for building...but I'm not everybody...

Looking forward to hearing the community's thoughts!

Hello,

I've got land under contract in Newport KY.  City views of Cincinnati, 120 wide x 100 deep lot, 3-4 homes, townhouse style.  Getting geotechnical studies done currently to see if it's a viable build and see if I want to follow through with the purchase.

Community question - are there hard money lenders out there that do construction type loans?  I
know, banks do this...I just find hard money so much more straightforward and to the point with deals.

OR

Are there any BP members out there looking to partner on a sizeable project like this?

I'd ideally like to buy and hold these properties for the long term.

Hello all, 

I’m looking for a private lender and or partner on a sizeable new build of 4 homes in Newport, Ky.  Please reach out if you are one or have good connections!

Thanks!

Rich

Hello!

I have a number of homes in my name and one investment property with a private money loan that's in my LLC where my LLC is debtor.

If I’m looking to purchase a home with fha financing, do I need to disclose my private loan note?

Hello All,

BP #671 got me super inspired to get into residential assisted living (RAL).  I'm a registered nurse that has a handful of rental properties on the side currently.   I've been actively seeking for ways to dive deeper into real estate while utilizing my healthcare/business background.  This seems like the perfect fit for me.  I paid for the RALAcademy online course - It was great and well worth the time and money for me.   After taking this course and reading other posts about RAL on BP forums, I feel very well equipped for this.

I'm currently feeling a bit stuck at this point in terms of  getting the business plan together, getting property approved, finding tenants, etc etc.  

RALAcademy does have options to take the next steps.  It seems like it could really streamlines the process.  That's great...but the cost is quite high...like high enough to drain me of most of my liquid cash.  At this point, I don't know if that would be a wise move for me.  Again, great course, I highly recommend - just getting pretty spendy if I were to purchase the next step with their company.

I wanted to see if there's anybody out there that's willing to network or connect me with potential financiers for undertaking RAL projects?

I'm in a unique spot as I'm very flexible to make moves (single, no wife/kids at the moment).  I've been a travel ICU RN and am kind of home-less (figuratively).  Family in the Midwest, Santa Fe/Albuquerque is current location.  Would prefer to start this endeavor in the Southwest, but I am fairly open minded at this point.

Any and all suggestions are welcome.  

Is there a website out there for sellers who are strictly interested in selling real estate via owner financing?   

Just curious if there's something out there specifically tailored to this other than trying to narrow my searches on zillow, redfin, etc with keywords that include the terms 'seller finance.

Hello all,

I'm learning the power of private lending and wanted to see if anybody knows of private lenders or hard money lenders (same thing?) in the Santa Fe / Albuquerque area?  Feel free to send me names and/or advice for this!

Thanks!

Rich

Fantastic, will do. Thank you!

I searched the forums and found this as a topic in the past....however, it appears that this list of companies that will do a HELOC on an investment property has changed quite a bit and the previous posts are outdated.

Here's the situation - I have around $250K equity in a 4plex in Cincinnati, the building is worth $450k. My rate is sub 4%, so I don't want to do a cash out refi. Ideally, I'd love a HELOC on this property, but I'm having trouble finding a bank that will do this thus far. Seems like many banks are tightening their belts and aren't offering programs like this. I spent a few hours on the phone with local banks and credit unions and haven't found any luck just yet.

Does anybody know of a bank or credit union that would consider this??  

I'm curious if anybody is aware of loan/mortgage programs available for nurses/healthcare professionals?

I'm a registered nurse on my way to growing my real estate portfolio.  I read that Florida has a "hometown heroes" program that has a lot of incentives for nurses to purchase real estate.  That got my gears turning and I'd love to take advantage of a programs like this.  

At this point, I'm a travel nurse and am very open minded as to where I'd like to invest/live.  So, really, two questions - are there any banks/brokers people know about that have good incentives for nurses to invest in real estate?  Are there any states/local governments that provide assistance or favorable deals on real estate purchases?