All Forum Posts by: Royce J.
Royce J. has started 8 posts and replied 67 times.
Post: Urgent, Help, Potential Tenant with Pitball
- Realtor
- Los Angeles, CA
- Posts 73
- Votes 39
Ask your PM to scan all of the leases and email them to you. Also, get your deposits. Then fire your PM.
I purchased a 4plex in Las Vegas and one of the tenants had a Pit-bull. My insurance company made an exterior inspection and cancelled policy after seeing a Pitbull on the patio. I had to get new insurance through State Farm and the premium was $500 more per year.
Good Luck.
Post: How many loans is to many?
- Realtor
- Los Angeles, CA
- Posts 73
- Votes 39
Think outside the box. Can you also consolidate your buildings into one commercial loan.
Post: Facebook ads for Motivated sellers
- Realtor
- Los Angeles, CA
- Posts 73
- Votes 39
Has anyone pulled a list from listsource and uploading it into the FB targeting (First Name, Last Name, Zip, City)? What were your results?
Post: Multifamily vs SFR Yellow Letters
- Realtor
- Los Angeles, CA
- Posts 73
- Votes 39
Post: Can I submit multiple offers at once?
- Realtor
- Los Angeles, CA
- Posts 73
- Votes 39
@Cody Steck Did the multiple offer strategy work for you? Did you send (3) LOI's or (3) 15 page purchase offers? How were they presented?
@Dave Van Horn I heard your podcast today.....Fascinating! Have you submitted 4 or 5 offers on a multifamily property? If so, what were the scenarios? Were they LOI's or full blown offers? What are the most common offers and what did the sellers except?
Post: Midwest Corporate Credit vs Fund And Grow
- Realtor
- Los Angeles, CA
- Posts 73
- Votes 39
I used Midwest Corporate Credit for two rounds of funding.
1st round: I received 4 credit cards averaging 10K each.
2nd round: Six months later I received 3 credit cards averaging 12K each.
Later the banks gave me increases over time. My current limits equal $103K.
None of the cards are on my personal credit. I hope this helps.
Post: What arethe financial requirements to purchase 15+ unit building?
- Realtor
- Los Angeles, CA
- Posts 73
- Votes 39
On apartment building Buy and Holds Privatecashfunding.com can do 10% down with 70% 1st, with 20% seller carry back, CLTV 90%. I'm not sure which states they lend in.
Post: Cross-Collateralizing Existing Units to Buy More Units
- Realtor
- Los Angeles, CA
- Posts 73
- Votes 39
Property #1 LTV 46%
Property #2 LTV 60%
Property #3 LTV 60%
Property #4 LTV 60%
Post: Cross-Collateralizing Existing Units to Buy More Units
- Realtor
- Los Angeles, CA
- Posts 73
- Votes 39
Hello BP lenders, My wife and I are looking to expand our Las Vegas, Nevada rental portfolio and wanted to explore cross-collateralizing our existing properties.Do you know any lenders who are experienced in cross-collateralizing?What do cross-collateralizing terms look like?
Why cross-collateralizing? I have 4 Quads with low 30 year rates.
We are not flippers, we are strictly buy and hold investors.
Post: 48 unit closing on Monday
- Realtor
- Los Angeles, CA
- Posts 73
- Votes 39
Nice! I love the value add deals.