All Forum Posts by: Wave Taylor
Wave Taylor has started 38 posts and replied 74 times.
Post: Funding for multi unit property
- Baltimore, MD
- Posts 75
- Votes 11
Andy thanks for the advice . I will look into that . What is the going rate that Mortage Brokers charge for their services ?
Post: Funding for multi unit property
- Baltimore, MD
- Posts 75
- Votes 11
Good points Andy.
Post: Funding for multi unit property
- Baltimore, MD
- Posts 75
- Votes 11
I applied for a loan with a local credit union about 2 months ago, I explained my intentions and they seemed to be good with it. I submitted all of the necessary documents and have not heard too much, in terms of application status. I have checked with them a few times and they just tell me that they will get back to me. Is this typical? Does it usually take this long? The have all of my financials. Should I look somewhere else/ Trying to finance my first deal which will be a multi unit by and hold.
Post: Financing my first deal
- Baltimore, MD
- Posts 75
- Votes 11
Have not checked out the larger banks. I have heard that smaller banks and credit unions are easier to work with.
Post: Financing my first deal
- Baltimore, MD
- Posts 75
- Votes 11
Working with a local credit union. The offer is as follows:
They will finance 75% of the purchase cost. Then they will finance 75% of ARV, for rehab, as long as the two totals do not ecceed the ARV price. Terms are 15 years with a 25year amortization. How does this sound? Just looking for advice.
Post: 48 unit closing on Monday
- Baltimore, MD
- Posts 75
- Votes 11
Congrats. Wish you much success!!!
Post: 48 unit closing on Monday
- Baltimore, MD
- Posts 75
- Votes 11
Congrats #!
Does any one know where I can get a standard script to use once I get a few leads from my direct mailing?
Good stuff here. I need to take that initiative.
Post: Newbie looking to get into multi-family investment using BRRR
- Baltimore, MD
- Posts 75
- Votes 11
Good advice Paul.