All Forum Posts by: Thomas McPherson

Hi everyone, I am interested in hearing everyone's thoughts on the Platform Pacaso, I have noticed that it can inflate housing prices in some areas due to them being less concerned about paying a low price upfront and more focused on the overall profit they can generate through fractional sales and ongoing services. Interested to hear your thoughts.

Best,
Thomas

0 Votes

Very good. I think the New England coast will continue to outpace many other metro areas in for job & population growth in the next 10+ years. As the world warms this are will become more desirable.

What do you think, Patrick?

2 Votes

Quote from @H. Jack Miller:

Seems a lot can go wrong with this and I wanted to speak with existing investors and see what has gone wrong with this in the past and how have then fixed it.

Here is my short list

Due-on-Sale Clause: Most mortgages have a due-on-sale clause, meaning the lender could demand full repayment of the loan if the property is transferred to someone else without their approval. While it's not common for lenders to enforce this, it's still a risk.
Lender Discomfort: Since the loan stays in the seller's name, if the lender becomes aware of the transfer, they may become uncomfortable with the arrangement, potentially complicating the process.
Seller Risk: The seller is still legally responsible for the mortgage. If the investor fails to make payments, it could damage the seller’s credit, even if they've relinquished control of the property.
Insurance Issues: A change in ownership might affect the property’s insurance policy. If the policy lapses or is canceled due to ownership changes, the property could be left uninsured, exposing both parties to risks.

0 Votes

Quote from @Christina Pisacone:

Hi! I’m here to learn as much info as I can to begin investing in real estate. I’m not in New Haven, I’m in New London County. I’m actually surprised there’s not a southeast CT forum location. I’ll probably be nosing around the forums some, so please bear with me and any silly questions. Thanks all!

Welcome to BP. Please reach out with any questions!

0 Votes

New Haven, Connecticut

Quote from @Patrick McCann:

Maine is a big state, what area of Maine?

Sorry for the late reply, I am in the Portland area. What about you?

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Hi there, my name is Thomas McPherson and I am a RE investor/lender operating in Phoenix and Maine. If you are in the area, I would love to connect and hear from you. Always looking to meet new folks in the space.

Looking forward to connecting,
Thomas

2 Votes

Quote from @Connor Laux:

Hello everyone, my name is Connor Laux and I have always had a passion to compete, learn and be the very best at what I do in my life. Being a former college athlete has always made me dedicated to what drives me each and everyday. Now with that being gone I have found that real estate has given me that eagerness to learn and grow. I have a strong feeling that if I have my hands in on any investment then it will turn out great. Just looking forward to learning more as the time goes on here in bigger pockets and in the Lincoln, NE area.

Hey Connor, welcome to the group! What kind of projects interest you most?

0 Votes

Lincoln, Nebraska

Quote from @Julian Chomicki:

Quote from @Thomas McPherson:

Quote from @Julian Chomicki:

Hey everyone, excited to be here!

I'm a seasoned finance profeesional with over 7 years working in Corp Dev & IR roles in Argentina. I recently quit my job to dedicate full time to RE investing.

Given the macro instability Latin American economies faced for decades, people with savings are constantly looking out for opportunities to invest in the US, specially in RE.

So, a few months ago I partenered with a RE developer from my country and we are now focused on getting multifamily deals in Florida.

Looking forward to connecting with all of you and adding value where I can! If you’d like to connect or chat, feel free to reach out.

Best!

Julian.

Welcome Julian! Are you only looking in Miami for deals?

Best,

Thomas

We are open to apportunities throughout southesatern US!

Okay. We operate primarily in the Southwestern US and New England area. If we see any opportunities in Miami I will think of you!

0 Votes

Miami, Florida

There are many options, Rabia. You can get money from family and friends, you can get the seller to provide financing, often called "Seller Financing" or a "Seller Carry" or you can get a lender to lend you close to all of the money needed (I see loans at and above 90% of purchase cost + 100% of improvements).

Additionally, there may be grant money or other funding programs available to you.

Finally, if you get involved with a local real estate group you can likely find other investors that might want to participate in the deal with you. They will want a a piece of the profit AND it could be very worth it on your first project. They can help you navigate the whole process so you can learn.

2 Votes

All Forum Posts by: Thomas McPherson

Thomas McPherson has started 10 posts and replied 58 times.

Post: Breaking the Ice

Post: Thoughts on Pacaso (Co-Ownership Real Estate) and it's Market Effects?

Post: Looking to Connect with Investors in AZ/New England Area

Post: What can go wrong with Subject to Investing

Post: Totally new to this

Post: Looking to Connect with Investors in AZ/New England Area

Post: Looking to Connect with Investors in AZ/New England Area

Post: New Member of Bigger Pockets- Connor Laux

Post: Hello from Argentina!

Post: using debt to invest in real estate