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All Forum Posts by: Chris Seveney

Chris Seveney has started 364 posts and replied 18229 times.

Post: The End of Working Without Ownership: New Platform Transforms Labor Into Equity

Chris Seveney
ModeratorPosted
  • Investor
  • Virginia
  • Posts 19,053
  • Votes 16,631
Quote from @Abi Vera:

Hey BP Community,

Tomorrow morning, a global press release drops that's going to change everything for working real estate professionals. I wanted to give you all a heads up before this hits mainstream media.

What's dropping: Hi, I'm Abi a veteran of all sorts and am launching EVERHOLD - the first platform that transforms your daily real estate work into permanent digital equity through blockchain "contribution mining."

Why this matters for BP members:

  • Every deal you source, every client you help, every property analysis you do = blockchain-verified equity tokens
  • No more "just commission" - you build OWNERSHIP through your professional excellence
  • Specifically designed for real estate professionals who do the real work but struggle to build lasting wealth

The timeline:

  • Global press release hits tomorrow
  • Soft launch July 15th (14 days from now)
  • Only 72 founding territory positions available before it moves to bidding/auction model
  • After soft launch = no more ground floor pricing or founder benefits

What makes this legit:

  • Founded by proven Silicon Valley innovator with $1.44B revenue track record
  • Actual blockchain technology (not another "real estate course")
  • Comprehensive legal frameworks and institutional security
  • Platform already built and functional

This isn't about flipping courses or guru programs... it's about finally getting equity for the professional value we create every day.

Quick preview:

https://everhold.app/about

Tomorrow's press release is going to put this on everyone's radar. If you've ever felt like your real estate expertise deserves more than just transaction-based income, this might be worth checking out before the global attention hits.

Thought the BP community should know first.

What do you think? Anyone else tired of building wealth for everyone except yourself?


 sounds like real estate socialism.

Post: Looking for Lender Recommendations (High DTI, Multi-Unit, HELOC)

Chris Seveney
ModeratorPosted
  • Investor
  • Virginia
  • Posts 19,053
  • Votes 16,631
Quote from @Andre Lai:

Hey everyone, hoping to get some lender recommendations or advice based on my current situation. Appreciate any insight or contacts:

  • I own a fully permitted triplex in San Jose (converted from a single-family home less than 1.5 years ago)

  • Current appraised value: $1.45M (Redfin estimate $1.65M)

  • Mortgage balance: $1.01M at 7.5% interest

  • DTI is high (around 88%) due to the mortgage, though I have rental income that helps offset

    If counted, rental income would bring down my DTI to 58%

  • Rental income hasn’t been on two years of tax returns yet

Goals:

  • Ideally looking for a HELOC to consolidate high-interest debt and bridge into my next home purchase (I'll be selling this property in order to buy this next primary)

  • Open to DSCR cash-out refi, but wondering if lenders allow DSCR products when I still live in one unit of the triplex

  • Exploring private lending or creative options if traditional lenders can't work with my DTI

If anyone has lender suggestions, brokers, or has been through a similar scenario, I’d appreciate the help.

Thanks in advance!


 Look to bring in a partner as if its worth 1.45M you are most likely not going to find a 2nd position loan on the property as most go to 60-70% max. If it were me, I would sell this property. 

Post: Using private funds to buy investment property and then doing delayed financing

Chris Seveney
ModeratorPosted
  • Investor
  • Virginia
  • Posts 19,053
  • Votes 16,631
Quote from @Nicholas A.:

I’m trying to buy a $150K investment property from a wholesaler. I plan to use $120K from my parents (not as a gift, but as a private loan) and $30K of my own money. I want to wire the money directly to the title company to avoid it hitting my account. Then, once the property is purchased, I want to get a mortgage (delayed financing) to pull out most of the $150K and repay my parents, keeping the remaining equity in my name.


However, the lender warned that if the $120K shows in my account and is traced to my parents, it could be a problem since gift funds aren’t allowed for investment purchases.

So I’m trying to find out:

Can this be done?

How should the private loan from my parents be structured so it doesn’t disqualify me?

if anybody can assist I would be open to working with them for the loan.

Anyone with experience doing delayed financing for investment properties or using private funds—please weigh in.


 1st you are saying your parents money is a loan - if that is the case then there should be a note and deed of trust/mortgage. IF not then its not a loan. 

2nd - you cannot refinance 150k, a lender will typically lend up to 75% on a refinance so they would give you $112k which would not pay off mom and dad - so answer is most likely no you cannot refinance. 

Post: RAD Diversified SCAM ALERT!!!

Chris Seveney
ModeratorPosted
  • Investor
  • Virginia
  • Posts 19,053
  • Votes 16,631
Quote from @Jacob Thorpe:

That doesn't sound very rad at all! 

Big REITs and youtube scammers are stealing peoples money, you could have invested with me on a partnership basis or another investor here and had more success and control. Oh well. Another poster gave 100k to a real estate youtuber and lost it all. Sometimes in life you get exactly what you pay for.  I read posts like these and it upsets me. Seeing people trust in these big talkers, but some are still asleep on the real deal - boots on the ground guys like myself and others who have amazing deals and need capital. 

I think there is an endowment effect where you purchase into a REIT or into a stock and you believe to own something personal, then when reality takes it all from you.. posts like these are made. People are abused. For some reason people lower the trust, when they see a massive institution or syndication. But someone you can meet, shake their hand, get your name on title... is met with more suspicion. Amazing.

Work with investors, developers, real syndicators not "content creators"! You can securitize with a fellow investor who actually knows his/her market for short term deployments and see a higher return, have tc take care of disbursement of funds, and securitize with JV title in common.. litany of other ways to securitize, to form, etc etc. Who wants to really make some money!?? Or just have this endowment effect which is meaningless and if it every pays you will take forever! blah! flip it and get your hands dirty! VALUE ADD BABY!!

Agree 100% - if you look at the majority of people getting roasted here on BP due to failed syndications - most are content creators/marketers and not real estate experts. 

Post: California AB 130 & SB 681. The Crazies Are at it Again.

Chris Seveney
ModeratorPosted
  • Investor
  • Virginia
  • Posts 19,053
  • Votes 16,631
Quote from @Jeff S.:
Quote from @Chris Seveney:
Quote from @Jeff S.:

California SB 681 was intended to deal with problems surrounding zombie mortgages. It was poorly written and, if passed, would make all junior liens unenforceable in the state.

While a number of industry groups were working with the sponsor to rewrite the bill, the author instead pulled a fast one and buried three pages from it into AB 130, a 215-page budget trailer bill which has nothing to do with real estate.

These three pages, which must be removed, are an attack on lending in CA and will effectively make all junior liens unenforceable. This bill will cause damages for all borrowers in California including those who cannot refinance their low 1st mortgage and need to get a 2nd mortgage from the equity in their homes, HELOC, and many other borrowers in general. Likewise, this bill will send shockwaves of harm through the entire mortgage industry in California. We all have a dog in this fight and must deliver immediate opposition to all our corresponding representatives.

The California Mortgage Association (CMA) outlined key points to include in a message to your representatives:

  1. If the provisions of AB 130 involving subordinate liens are passed, it will make enforcing a junior lien completely impossible.

  2. If subordinate liens cannot be foreclosed upon in California, lenders will stop making junior liens and extending second-position lines of credit. In today’s housing market, with many people locked into 3% loans, this will make tapping into one’s home equity virtually impossible.

  3. Private trust deed investors, many on a fixed income, will find the 2nd liens that they invested in, unenforceable virtually overnight.

  4. Bill allows for retroactive setting aside of foreclosures sales from years ago, which is destabilizing to the real estate market.

You can watch Mr. Mike Belote, a lobbyist for the CMA and the United Trustees Association on June 25, 2025 zealously advocating for us here.

Conventional and private lenders alike have much to lose here, as well as our borrowers. Please take a few minutes to write your representative to add some sanity to AB 130.


  can you provide a reference within this bill? I see this section about zombie foreclosures but where would ALL junior liens be unenforceable - if a lender has the servicer following CFPB guidelines, a loan would still be valid...

b) The following conduct constitutes an unlawful practice in connection with a subordinate mortgage:(1) The mortgage servicer did not provide the borrower with any written communication regarding the loan secured by the mortgage for at least three years.(2) The mortgage servicer failed to provide a transfer of loan servicing notice to the borrower when required to provide that notice by law, including, but not limited to, the federal Real Estate Settlement Procedures Act, as amended (12 U.S.C. Sec. 2601 et seq.), and investor or guarantor requirements.(3) The mortgage servicer failed to provide a transfer of loan ownership notice to the borrower when required to provide that notice by law, including, but not limited to, the federal Truth in Lending Act, as amended (15 U.S.C. 1601, et seq.), and investor or guarantor requirements.(4) The mortgage servicer conducted or threatened to conduct a foreclosure sale after providing a form to the borrower indicating that the debt had been written off or discharged, including, but not limited to, an Internal Revenue Service Form 1099.(5) The mortgage servicer conducted or threatened to conduct a foreclosure sale after the applicable statute of limitations expired.(6) The mortgage servicer failed to provide a periodic account statement to the borrower when required to provide that statement by law, including, but not limited to, the federal Truth in Lending Act, as amended (15 U.S.C. 1601, et seq.), and investor or guarantor requirements.

Too late. As I was writing my response to you, Chris, I received this email from the CMA a few minutes ago. It addresses your question:

"Despite the hard work of our lobbyist, Mike Belote, General Counsel, Robert Finlay, Elizabeth Knight’s entire Legislative Committee, the extensive outreach program for industry assistance, and the support of many legislators, the California Legislature just passed AB 130. When the Governor inevitably signs the bill it will become effective immediately, as early as Tuesday, July 1st. Section 2 of AB 130 will significantly change the origination, servicing, and enforcement of subordinate liens in California. Specifically:

  • AB 130 will render subordinate liens essentially unenforceable if any of the following has occurred during the life of the loan on ALL residential properties (including 1-4, 5+ (apartments) and mixed used) whether or not the loan was originated as a consumer loan or as a business purpose loan (this also includes lines of credit):
  • Failure to communicate with the borrower for a period of 3 years;
  • Failure to send any required monthly mortgage statement;
  • Failure to send an ownership or servicing transfer notice; or
  • Sent the borrower a “form” indicating that loan had been written off (including a 1099).
  • Before foreclosing on any subordinate lien, the loan servicer must certify, under penalty of perjury, that none of the above events have occurred ever, by any servicer of the loan. It would be doubtful that a loan servicer would risk going to jail to certify acts that happened on another servicer’s watch, even if they believe everything was done properly."

This statute applies to all subordinate mortgages. (See your section “b)” above). No sane servicer would sign the required certificate. I’m curious what happens if we service our own loans. Does this apply to the foreclosure trustee?

I have to agree with @Patrick Roberts. I can’t believe there won’t be a TRO against this almost immediately. Seems crazy.

Hope everyone collects a PG.


 California is not the only state doing this, many are - they are going after zombie loans where lenders wrote off the loans 15 years ago and are now coming back after the owners for the balance. We bought some zombie loans 3-4 years ago and stopped buying them for this reason. 

Post: Private lenders- what LTV do you find appealing?

Chris Seveney
ModeratorPosted
  • Investor
  • Virginia
  • Posts 19,053
  • Votes 16,631
Quote from @John Salcedo:

For the private lenders, what is your ideal loan structure/ LTV?

Does it change if you are in a first or second position?     

changes drastically based on lien position - typically 1st no more than 70-75% and 60% in 2nd.

Post: California AB 130 & SB 681. The Crazies Are at it Again.

Chris Seveney
ModeratorPosted
  • Investor
  • Virginia
  • Posts 19,053
  • Votes 16,631
Quote from @Jeff S.:

California SB 681 was intended to deal with problems surrounding zombie mortgages. It was poorly written and, if passed, would make all junior liens unenforceable in the state.

While a number of industry groups were working with the sponsor to rewrite the bill, the author instead pulled a fast one and buried three pages from it into AB 130, a 215-page budget trailer bill which has nothing to do with real estate.

These three pages, which must be removed, are an attack on lending in CA and will effectively make all junior liens unenforceable. This bill will cause damages for all borrowers in California including those who cannot refinance their low 1st mortgage and need to get a 2nd mortgage from the equity in their homes, HELOC, and many other borrowers in general. Likewise, this bill will send shockwaves of harm through the entire mortgage industry in California. We all have a dog in this fight and must deliver immediate opposition to all our corresponding representatives.

The California Mortgage Association (CMA) outlined key points to include in a message to your representatives:

  1. If the provisions of AB 130 involving subordinate liens are passed, it will make enforcing a junior lien completely impossible.

  2. If subordinate liens cannot be foreclosed upon in California, lenders will stop making junior liens and extending second-position lines of credit. In today’s housing market, with many people locked into 3% loans, this will make tapping into one’s home equity virtually impossible.

  3. Private trust deed investors, many on a fixed income, will find the 2nd liens that they invested in, unenforceable virtually overnight.

  4. Bill allows for retroactive setting aside of foreclosures sales from years ago, which is destabilizing to the real estate market.

You can watch Mr. Mike Belote, a lobbyist for the CMA and the United Trustees Association on June 25, 2025 zealously advocating for us here.

Conventional and private lenders alike have much to lose here, as well as our borrowers. Please take a few minutes to write your representative to add some sanity to AB 130.


  can you provide a reference within this bill? I see this section about zombie foreclosures but where would ALL junior liens be unenforceable - if a lender has the servicer following CFPB guidelines, a loan would still be valid...

b) The following conduct constitutes an unlawful practice in connection with a subordinate mortgage:(1) The mortgage servicer did not provide the borrower with any written communication regarding the loan secured by the mortgage for at least three years.(2) The mortgage servicer failed to provide a transfer of loan servicing notice to the borrower when required to provide that notice by law, including, but not limited to, the federal Real Estate Settlement Procedures Act, as amended (12 U.S.C. Sec. 2601 et seq.), and investor or guarantor requirements.(3) The mortgage servicer failed to provide a transfer of loan ownership notice to the borrower when required to provide that notice by law, including, but not limited to, the federal Truth in Lending Act, as amended (15 U.S.C. 1601, et seq.), and investor or guarantor requirements.(4) The mortgage servicer conducted or threatened to conduct a foreclosure sale after providing a form to the borrower indicating that the debt had been written off or discharged, including, but not limited to, an Internal Revenue Service Form 1099.(5) The mortgage servicer conducted or threatened to conduct a foreclosure sale after the applicable statute of limitations expired.(6) The mortgage servicer failed to provide a periodic account statement to the borrower when required to provide that statement by law, including, but not limited to, the federal Truth in Lending Act, as amended (15 U.S.C. 1601, et seq.), and investor or guarantor requirements.

Post: Building A Team

Chris Seveney
ModeratorPosted
  • Investor
  • Virginia
  • Posts 19,053
  • Votes 16,631
Quote from @Grace Tapfuma:

Hello All,

I have recently come acquired some money. A good chunk- I want to invest it so I am just wondering- what sort of a team do I need to build and have beside me to get started into real estate investing?

Lets start with:
1. What is it you want to invest in? 
2. What is your experience in that?

Post: Finding private investors

Chris Seveney
ModeratorPosted
  • Investor
  • Virginia
  • Posts 19,053
  • Votes 16,631
Quote from @Matthew Cline:

I bought my first property in October last year and fixed it up/ increased rent and value and it’s going great. Now my goal is to scale and buy many more, but struggling with fundraising to be able to scale. If anyone has tips and tricks for finding private investors please share them with me. 
thanks!


Look up RTL lenders as well as DSCR lenders. You still need 25% down typically but it does not go against your DTI.

Post: Flips, Full Remodels, & Fire/Water Restorations — Contractor Looking to Connect

Chris Seveney
ModeratorPosted
  • Investor
  • Virginia
  • Posts 19,053
  • Votes 16,631
Quote from @Brian Recinos:

Hey everyone — I’m Brian Recinos, owner of Evolution Drywall and Remodeling, based in the Treasure Valley and licensed in both Idaho and Oregon. I’ve been in the construction and restoration industry since 2018, working on flips, full gut remodels, and large-scale fire/water rebuilds.

My crew of 4–6 includes specialists in drywall, carpentry, flooring, and general construction. We’ve partnered with a number of disaster mitigation companies here in Idaho, handled large commercial projects like dorm restorations at BSU, and taken on out-of-state work like hurricane recovery in Florida and Georgia — including building out a second-story barndominium suite in Georgia. We’re now expanding into Texas for restoration work.

We don’t handle plumbing or electrical in-house, but I work with trusted subs — or I’m happy to coordinate with whoever you already use.

My goal here is simple: I’d love to connect with real estate investors looking for a trustworthy, experienced team to help manage and complete their flips. We take pride in keeping jobs on track, on time, and clean — and we’re open to travel with a little lead time.

Happy to answer questions or share more about what we do. Looking forward to connecting!

– Brian
📍 Boise, ID


 Welcome to  BP. If still doing work in FL we have properties in Ocala and Jacksonville that need full rehab as well as looking to build something in remote area of klamath falls.