Investor from Saint Albans, Vermont

[Amy Paradis]

Hi BP, I am an investor in the Saint Albans, Vermont area. I am newer to BP and hoping to network more in my area (this is the first chance I've had to introduce myself). I am hoping to connect with others in Vermont, especially in Northern VT. I have a few units in Saint Albans City- one duplex is owner occupied and the other held by my LLC. I am hoping to add another but am running to brick walls in the financing end of things as I am hitting the 20-25% equity in each building but not enough for a HELOC. I am not only interested in meeting folks from the area but hearing about how everyone is financing their units. I am finding that financing for the 3rd building is challenging without 20-25% cash in hand. I would be curious if anyone has found ways around what I'm running up against. Thanks! Amy

[Chris Kelly]

Amy, 

Welcome to bp. I don't think there Is really a way around it unless you have a motivated seller who wants to do something non traditionally. In my Real estate investor club I brought this up and those type of deals just don't happen in VT according to them. Something I have done is work with a partner and split deals that way. Going up to an investor with a deal and showing them the numbers is a easy way to show somebody that you are serious about this business. 

I work up in St. Albans and would love to talk shop if you ever run into any road blocks. 

Chris