All Forum Posts by: Account Closed

Yep, fractional ownership is what Rick is trying to do. A fractional mortgage is one deed of trust securing multiple promissory notes in the same lien position so lenders can "pool" their money to make one loan.

I'll go as low as 10 but that is a personal decision. 20 will make it very tough to find deals even value plays.

I won't go below 10. Ever. I don't seem to have trouble finding deals - just very selective.

I can help, too. I'm a commercial corespondent lender specializing in multifamily.

I have. It's just a lease option on a multifamily. I also just posted a 90 min replay of an Apartment Investing teleclass that talks about that on my blog. Just click the link in my sig to watch it.

Typically these are done with private money. Conventional lenders won't do it unless you're a TIC and then you need commercial lenders.

Need more info about the project and desired financing before I can answer.

No conventional stated residential loans left for investors.

Portfolio lenders are an option but the property must cash flow. The portfolio lenders will look at your tax returns but underwrite the deal more like a commercial loan where the cash flow of the property really is the guide.

To use as financing or to buy?

We broker private fractional mortgages here in our market so it can be and is being done.

Yep, I'm a broker and I advocate not using one in this situation as you will typically pay double origination.

Sure, portfolio lenders will accept a package from me but they will not give me wholesale rates and zero origination unless I have negotiated a master loan commitment with them. (I have done that before but it usually requires a substantial volume commitment.)

Some "other" brokers will take your deal to a portfolio lender and charge double and think that's Ok because they are providing a service but you can do it easily and much more cheaply on your own.

Just my .02 because I invest to make money not give it away,

Sure - PM me and I'll send it to you.

Someone may go for it. If it were me, I would want a portion of the cash flow as well. i would also want to know how I was going to get paid back - refi? Sale? You're on the right track.