All Forum Posts by: Steven St.Pierre

Hi Bernie

Have you checked with Camden, the last i knew they offered a 20 year fixed or a 25 year variable.

Well done! I asked, because you would be surprised at how many Vets that do not use this benefit! I'm glad you are doing well with you REI business. Keep going and be fearless like we Marines are. I wish you well, SEMPER FI!

Congrats! As a Marine Veteran of Desert Storm I thank you for your service! I have one question for you tho. Why didn't you use your VA loan? You could have bought those properties no money down at a 3.5 to 3.8% rate,with no money out of pocket and lower monthly payments with no pmi.

Hi Jon

I use Steve Lamontagne with ouellette and associates in Lewiston, I have been with them for a while now with great results.

Raj,

What states do you provide loans in?

Steve

Annette,

The answer to this all depends on your exit strategy, in other words what are you looking to do with this property? 

The easiest way to acquire a non insurable property is a private lender or hard money.

If you are doing a fix and flip then that is all you will need.

If you are doing a fix and hold to rent then after your are done fixing it up, refinance with either a conventional loan or with a portfolio lender ( I would suggest a portfolio lender if you are going to turn it into a rental. It is easier to qualify for and the interest rate is still pretty reasonable, about 5 to 5.5% as of last week.)

If you have fallen in love with this property and want to make it your primary residence, then definitely refinance with a conventional loan after you have fixed it up.  Or you could go with the 203k loan to begin with for a primary residence.

If you have any questions or need the name of a hard money lender or portfolio lender let me know!

Steve

@Annette A. glad the Lawyer worked out well for you, he is a great attorney and a very nice person! Hope the search for a CPA goes well. Let me know if your need anything else.

@Brandon Hall your website looks great but I like to have my team members close enough that if I need to see them face to face it only takes me a short time to get there. Its a personal choice of convenience.  

Hi Annette,

This is who I use if you want to take a look. http://www.oacpas.net/

Hi Sam,

Great to see you join BP, great place to network and learn about REI.

Shawn Bell in Lewiston, rated one if not the best in Maine. LLC will run about $500