All Forum Posts by: Tom Murphy

Either hard money or a private investor Odie.

We were within two days from closing on a portfolio of stable rental homes in WVA with ShareStates when they stopped lending two weeks ago.  We had the appraisal, the underwriting, etc.  Now, we're trying to find anyone who's still lending for a stable portfolio of rentals.  Any ideas?

Good info all.

Roman - sorry it took me so long to respond. It's been a busy day. LTV when I made the loan (Jan 2019) was roughly 93%. The owners are making good headway stabilizing the properties with a current inplace CAP rate of 10.9% with further plans to continue upgrading several of the units. I hope this helps.

I’m in with the owners at 14% and I know they’d like to find someone to refi my position at a lower rate.  My investment currently is $328,600 and they’re paying me interest monthly.

The owners would like to stay in for a few more years post refi.

I can email you the property details and financials

Looking for advice on how to get in front of private money lenders who would be willing to take my 1st position in a portfolio of six SFHs and one duplex in Charleston, WVA.  My acquisition loan is at a high interest rate and the owners (and I) are wanting to refinance to a lower rate.  All properties are stabilized with long term renters, most all of which have leases through January 2021.  Monthly gross rent is $4660.00 with net $3347.00 (reflects deducting taxes, insurance, utilities and management).

Is there an outlet where private lenders typically look for portfolio investments?  Thank you.

Thank you Jim

Thank you Michael

Michael - thank you for your reply and advice.

Bjorn - thank you for your reply.  Since I'm the landlord paying these rates, I was looking more so at rates that other landlords are paying for these types of services for their rentals.