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Updated over 7 years ago, 05/05/2017
Looking for some help - Seasoned Investor
Good afternoon. I'm not sure if anybody else has these issues but I will lay it out there for you.
I own 9 rental properties in good areas that are cashflowing well, however I am currently struggling to buy more than 1 or 2 a year. As you may be well aware, properties in decent areas in Charlotte are not sub-$100K. All of my purchases are $200K+ and most recently was $300K+. I tend to look for multi-family homes and they are relatively rare here, but whenever I do find an awesome deal, my money is always tied up in the previous renovation waiting for the 6 month seasoning period to re-finance.
Here is what I am looking for:
- A GREAT investor friendly realtor to partner with. Every single one I've worked with to date just sends me MLS listing, I find property, and he/she gets a nice fat paycheck. It would be nice if I found a realtor that knew of off-market deals, auctions, had connections, and would help me in taking my business to the next level.
- A GREAT bank that is not tied to fannie mae/freddie mac guidelines and can do alternative type loans. I read in another article about bridge financing where I can use equity in one of my homes to purchase another property. I have hundreds of thousands in dead equity so being able to use this option would be great for me. I'm willing to refinance to the bank or whatever it takes to set up this relationship.
- GREAT people to connect with. My wife and friends get bored about me talking real estate, so it's nice to know others who are just as passionate as I am.
Thanks!