All Forum Posts by: TD Wolf

Thank you @Antoine Martel, we already have a couple lined up but was wondering if anyone had personal experience (good or bad) with a particular local lender. 

My partner and I are shopping around for commercial loans for a 5-family we have under contract. Have you worked with a lender/bank/credit union that you recommend? Again, this is for a commercial--not residential--loan. We are looking to finance 75% if possible (though a lot of banks will only finance 70%). Let me know if anything comes to mind.

My partner and I are shopping around for commercial loans for a 5-family we have under contract. Have you worked with a lender/bank/credit union that you recommend? Again, this is for a commercial--not residential--loan. We are looking to finance 75% if possible (though a lot of banks will only finance 70%). Let me know if anything comes to mind.

Where in Nashua @Gal Peretz, I'd love to attend the next one.

I'm in Windham and own property in MA. Looking to expand into this area with MFRs. Meet up would be cool!

We got an offer this week so now I really need to decide what to do. The price they are asking will result in a loss for me so I wonder what, if any, benefits there are to holding vs. selling. Not sure what it will mean from a tax-perspective but I've reached out to my tax specialist to get more info. Can anyone speak to the implications of selling it at a loss (on taxes) vs. renting it for the foreseeable future?

@Carl Hebert: it's in Sebago and very close to Bridgton. That's a little under an hour from Lewiston. Do you happen to know any property managers in my area?

Another thought: will the decision to rent in any way conflict with my agreement with the current listing agent?

@ed  can you say more about why you would refinance in this situation and what you mean by "there are investor friendly sources that should allow you out sooner"? I like your tip about the short-term renters, too, by the way.

It's still too early to say if this deal is a "failure" but I've already identified two things that I would do different: 1) I made the classic mistake of not knowing the market well enough and therefore might have unrealistic expectations about sales price 2) I might be being too impatient. The house still could sell at or above my break even but I'm clearly getting antsy. But on the flip-side, we haven't had any offers so that tells me it's priced too high. My realtor is an expert in this area and says it's very common for properties to sit a while since the pool of buyers is much smaller...

@Ed Emmonsundefined

 @lloyd Stanton That's very interesting, it hadn't occurred to me before. Can you say more about how the lease w/option to purchase works? Are you saying get 3-5% down of the market value of the property?

Also, I don't have a seasoning period to deal with since I own it outright. Can you cash out refinance if you don't have a mortgage?