All Forum Posts by: Bryan Watson

Hey I know its not on topic but your spreadsheet looks awesome, very aesthetically pleasing and clear. is it downloadable somewhere?

One next step thing I would recommend is having a GC and/or accessor walk through the site to give you a better idea on if those numbers are legit for what you are targeting. Hope it goes well if you make moves on it

I am trying to help a friend out. They have 2 mortgages on their property (150k primary from property purchase and 220k secondary for rehabs) with the home now valued at 435k-465k. They are looking to pay off that second mortgage with a private lender terms being an equity pull with a $230k loan with 18mo balloon. 

I understand the value of the home being greater than the mortgages makes the risk not so bad, but what I feel a bit confused on is do private lenders ever do these second mortgage payoff deals or does it only depend on interest rates etc. ?

I feel like I dont totally understand the structure/benefit of the terms on either end, so any knowledge of what would make this attractive on either side of the deal would be appreciated. I am sure it comes down to interest rates but I am curious if there is more to it that I dont see.  Thanks

just seeing this now here is link to upcoming meeting

https://www.biggerpockets.com/forums/521/topics/68...

 Hey Steve check out the local meetup, meets once a month and you can usually find it on the search page, Raylan Willis is usually the host if that helps you find it in the search, lots of good people at that one and I always learn good info there. Best of luck on your path

@Matthew Irish-Jones are you saying buy in cash because its been competitive lately ?

@Kyle Jiron  that makes perfect sense, that was a very good break down and im definitely saving that paragraph as a simple blueprint.  

I appreciate the follow up and the insight, thanks.

@Kyle Jiron Just curious on your message above for action plan / investing plan ,  your phrasing made that sound like more of a solid thing or were you just referring to generalities ?

For example i have general plans but have ran numbers on a few prospective properties I did know if you  had a helpful resource for more specific ways to plan on either end