All Forum Posts by: Timothy Borg
Timothy Borg has started 5 posts and replied 81 times.
Quote from @Eugene Lindsey:
Quote from @Timothy Borg:
Quote from @Eugene Lindsey:
Quote from @Will Gaston:
Quote from @Eugene Lindsey:
Are there any lenders that finance new construction multi family investment rentals? I'm looking for financing in South Carolina for a new construction duplex.
If it's in or around Columbia, I can point you in the right direction. CCNB, First Palmetto, Southern First, etc will probably do it.
Have done 7-8 small MFH near USC
It is in Anderson. One issue that I am running into is that I am not "local" and I don't have any banking relationships already established. Additionally, they want someone with experience. They suggest "partnering" with a builder. I am not sure how this would work.
Eugene,
I am out of state also. I am closing on a few properties in Anderson too. It is definitely a challenge to establish a banking relationship when you don't live in the area.
Where do you live?
Sorry, I am just seeing this. I am in Columbus Ohio.
No, worries. How is your project coming along?
Post: Seeking Duplex/Fourplex Builder Recommendations and Rough Cost Per Sqft
- Posts 83
- Votes 24
I listened to a BiggerPockets podcast at least 1.5 years ago with a lady from LA who knocked down houses and built large 3-4 bedroom 4plexes. The interesting thing was that she built them with modular/prefab construction. The walls came assembled with the plumbing in them from the factory, and then they craned them into place. The building time was much faster! You might look into something like that.
Post: Personal Residence 4plex demand
- Posts 83
- Votes 24
There are not that many 4plexs in the Valley. I own one. It seems like it would be hard to go wrong with one because the financing is so much easier being long term.
Quote from @Eugene Lindsey:
Quote from @Will Gaston:
Quote from @Eugene Lindsey:
Are there any lenders that finance new construction multi family investment rentals? I'm looking for financing in South Carolina for a new construction duplex.
If it's in or around Columbia, I can point you in the right direction. CCNB, First Palmetto, Southern First, etc will probably do it.
Have done 7-8 small MFH near USC
It is in Anderson. One issue that I am running into is that I am not "local" and I don't have any banking relationships already established. Additionally, they want someone with experience. They suggest "partnering" with a builder. I am not sure how this would work.
Eugene,
I am out of state also. I am closing on a few properties in Anderson too. It is definitely a challenge to establish a banking relationship when you don't live in the area.
Where do you live?
Post: Exploring MTR in Phoenix area
- Posts 83
- Votes 24
@Teena Phoolka We converted our one-bedroom Airbnb to a MTR about 10 months ago. It is in a good part of central Phoenix. We have had nurses from Valleywise, Phoenix Children's and St. Joes. It usually seems to rent only a few days out but it has been mostly full.
Post: Should I Keep, Flip or Sell My Property? All advice welcome!
- Posts 83
- Votes 24
@Justine Phillipson I also live in Phoenix and have rentals out-of-state that I have never seen.
Do you think this house is something you want to keep long term? Is it in a good area? Do you expect to attract good tenants? If not sell it and buy something better.
I rehabbed both my out-of-state houses without ever going there. You could do it too. It is hard but not that hard.
Post: Looking for potential real estate partners
- Posts 83
- Votes 24
I would be open to some partnerships. I have a few properties in Greenville.
I would call at least 3 mortgage brokers and ask them. You will probably get 3 different answers.
Post: Questions about Series LLCs
- Posts 83
- Votes 24
There was a podcast episode within the last 6 months all about legal protections that was pretty good. I'm sorry I don't remember the number.
Post: Spreadsheet Buying Subto (Subject To) with the (BOMSTSLO) ™ Method
- Posts 83
- Votes 24
Wow! That is awesome!