All Forum Posts by: Rivers Fike
Rivers Fike has started 0 posts and replied 50 times.
Post: Hard money loan for cashout on ground rent redemption

- Lender
- Posts 52
- Votes 18
Are you looking advice on the ground redemption or the hard money loan?
What kind of yield are you seeing for riskier notes?
Post: Rental properties, how would you approach the listing and showing?

- Lender
- Posts 52
- Votes 18
I would try and find an agent who specializes in leasing residential rentals or a property management company. You could also list it yourself as an alternative.
This being said two showings in the first week isn’t bad. I would want to understand why they didn’t want to lease after the showings.
Post: I really want to purchase a rental, but not sure how I should fund it.

- Lender
- Posts 52
- Votes 18
A conventional loan with a fixed interest rate would be my recommendation for your situation. The HELOC is likely going to have a floating rate that may increase over time making your property cash flow decrease.
Post: Beginning Private Money/Partnerships

- Lender
- Posts 52
- Votes 18
I don’t see much opportunity to get the amount of depreciation you are looking fort through a syndicate.
Have you considered investing in private notes? Not a depreciation play but could get you a good return in your cash.
Alternatively, you could buy a lower cost property and take the depreciation that way if you are more focused on tax optimization.
Post: 2nd Mortgage on Commercial Property

- Lender
- Posts 52
- Votes 18
I would consider utilizing a private lender. I’ve done a few second position loans recently. Feel free to message me directly if you’d like to share more about your deal.
Post: Rent by the room strategy questions

- Lender
- Posts 52
- Votes 18
I own a couple of these in PA. Things to consider are higher turnover and lower rents leading to making it more operationally intense than normal ltr. Also the insurance can be higher depending on the lease type.
With good management in place, I think these can be a good option.
What were the terms of the loan?
Post: Ascension Funding Group

- Lender
- Posts 52
- Votes 18
Have not heard of them.
I would just be careful sending any funds. I don’t charge anything until the closing with all funds being escrowed by the title company/attorney. This puts everyone involved in the transaction at ease.
Post: using 1031 funds to purchase

- Lender
- Posts 52
- Votes 18
@Dave Foster if there is no cash to close. What happens to the funds from the 1031 exchange? Are you saying the you are able to assume a $110k loan and then get a check from the qualified intermediary for $110k with no tax implications?