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All Forum Posts by: Tory Lockett

Tory Lockett has started 5 posts and replied 14 times.

Post: Foreclosure Attorney Atlanta Ga.

Tory Lockett
Posted
  • Posts 18
  • Votes 5

Hello! Anyone familiar with a foreclosure Attorney in Atlanta Ga? I am in first position lien on an asset in Atlanta. The borrower has missed payments for the last 4 months. I am looking to foreclose to get my money from the loan. Any assistance will highly be appreciated. Tory

Post: Lenders for cash out refinance in Alabama

Tory Lockett
Posted
  • Posts 18
  • Votes 5
Quote from @Khemraj Sarju Jr.:

We have a 30 day seasoning period. Let me know if I can help. 


 What is the best way to contact you? I would like to learn more.

Post: Lenders for cash out refinance in Alabama

Tory Lockett
Posted
  • Posts 18
  • Votes 5
Quote from @Logan Singleton:

Hi @Tory Lockett 

Some HML will allow for a cash-out refinance after three months of ownership but will limit you to 70% LTV on the new value of the building. After 6+ months of ownership, they will grant 75% LTV, but this will come with a more expensive financing rate, so weigh your options on whether the extra 5% is truly worth it. Please let me know if you have any questions.

 Thanks for sharing. This was definitely helpful.

Post: Lenders for cash out refinance in Alabama

Tory Lockett
Posted
  • Posts 18
  • Votes 5

Hello anyone familiar with a lender that does dscr in the state of Alabama? I am looking to do a cash out refi on my rental. Also, can I get a loan with owning the property for only 3 months now?  Any assistance would be greatly appreciated.

Post: Best Credit Card Options for LLC

Tory Lockett
Posted
  • Posts 18
  • Votes 5

If it is business. Chase ink business cash is the best from my experience.

Post: Best Credit Card Options for LLC

Tory Lockett
Posted
  • Posts 18
  • Votes 5

Depends on if it is personal or business credit card.

Post: Mobile Alabama market insight

Tory Lockett
Posted
  • Posts 18
  • Votes 5
Quote from @Nathan Jackson:

I have recently purchased a property in Mobile county that is doing great! I like this and Surrounding markets within 60 miles of the coast. Most of my experience is in Tuscaloosa, AL so if anyone is interested in the Tuscaloosa-Birmingham market I am happy to give my insight. Roll Tide! 


 Hello Nathan. MY name Tory. I am touching bases because I am currently investing in mobile Al. But would like to know more about Tuscaloosa and Birmingham area if you interested in sharing your experience in those area. Any insight will be greatly appreciated. 

Post: Looking for 1-4 units with value add potential!

Tory Lockett
Posted
  • Posts 18
  • Votes 5
Quote from @Josh Bowser:

Hey Tory - what is the exit strategy? Flip? BRRRR?


BRRRR. But I also do flips when I want to enhance my cash reserve.

Post: Looking for 1-4 units with value add potential!

Tory Lockett
Posted
  • Posts 18
  • Votes 5
Quote from @Josh Bowser:

Hey Tory - what is the exit strategy? Flip? BRRRR?


BRRRR

Post: 1st position and 2nd position creative financing

Tory Lockett
Posted
  • Posts 18
  • Votes 5

First position means that lender will get paid first if the house is sold or foreclosed on. Second position you will get whatever is remaining even if its not the full amount.