All Forum Posts by: Erin Elam
Erin Elam has started 44 posts and replied 336 times.
Post: Cash out refilender recommendations
- Little Elm, TX
- Posts 356
- Votes 47
Originally posted by @Brian Meyer:
Hey Mike, shoot me a message and I can give you a contact that we've worked with to do 3 deals under our LLC. They also do refinancing under LLC that we plan to use this year.
Hi Brian,
Does your lender have a 6 month or 1 year seasoning requirement?
Thank you
Post: Confusion on funding for the BRRRR Method
- Little Elm, TX
- Posts 356
- Votes 47
Post: Confusion on funding for the BRRRR Method
- Little Elm, TX
- Posts 356
- Votes 47
Originally posted by @Lee Ripma:
Hi Lee,
Sorry if you've already answered, but I just want to clarify: the only reason someone should want to refi on LTC basis is if the bank requires it - is that true? As mentioned, it seems that with an HML, I would want all the money out so i could totally pay off the HML and use the additional funds towards the purchase of my next BRRRR purchase - is this how this works?
Post: Confusion on funding for the BRRRR Method
- Little Elm, TX
- Posts 356
- Votes 47
Originally posted by @Ryan Keenan:
Originally posted by @Lee Ripma:
Some make you wait 6 or 12 months to refi based on value. As I said before the holy grail is those who will lend on value without keeping capital in the deal. I have yet to find a lender who will actually do this but I’d love to.
Stupid question, but half to ask. What's the difference between LTC anf LTV? Are commercial lenders the only banks that deal with LTC?
Thank you for this question!!!
Post: Huntsville Alabama Path of Progress
- Little Elm, TX
- Posts 356
- Votes 47
Great thread! Which of these areas are the best for cash flow? Which of these areas have the strong tenant base?
Thanks to everyone providing this insightful information!!
Post: North Alabama Investment Properties
- Little Elm, TX
- Posts 356
- Votes 47
Originally posted by @Rhonda Blue:
Hi Rhonda,
Are there any realtors you would refer in the Huntsville area for LTR? Which areas do you consider B or C+? I look forward to hearing from you.
Post: Realtor referral needed - Huntsville
- Little Elm, TX
- Posts 356
- Votes 47
Good morning BP,
My husband and I are looking for an investor friendly agent to help us locate rental property in the Huntsville, Alabama area. We'd like at least 3 to 4 options, is there a realtor you've had great experiences with?
We'd love to hear how they helped you and details of your experience (zip code of property, type of property, purchase price, current rent, vacancy experience since you've owned the property, type of tenant).
We look forward to hearing from you!
Post: Ohio Hard Money Lenders
- Little Elm, TX
- Posts 356
- Votes 47
Hi BP,
My husband and I are looking to purchase our first rental in the Euclid area. I came across Secured Investment Lending - does anyone have any experience with this company?
Or any experience with any other HML for OH properties? Looking for detailed experiences if possible ( i.e. % of purchase and rehab, loan on cost or value, origination fee?, Points?, closing time, ease of communication, draw fees, etc).
Positive and negative experiences are welcome (we want to know who to avoid as well).
Looking forward to the Intel.
Post: IIP Property Management in Cleveland< Ohio
- Little Elm, TX
- Posts 356
- Votes 47
Any more recent experiences with IIP?
Post: Looking to Refi Dupelx - Need Lender Suggestions
- Little Elm, TX
- Posts 356
- Votes 47
Originally posted by @Sean Quinlan:
question on refinance????? if you refinance to get equity out and re invest wont the loan amount due each month go up and take away from the cash flow on the original property you refinance???
Did you ever get an answer on this Sean?