All Forum Posts by: Chris Seveney
Chris Seveney has started 370 posts and replied 18588 times.
Post: Can this be done?
- Investor
- Virginia
- Posts 19,439
- Votes 17,115
Quote from @Matt Settle:
Hello! I’m new to real estate investing. I’m trying to devour every podcast, YouTube video, and website I can access. I’m trying to learn to create my own real estate investment business. I work full-time as a paramedic and make decent money. However, the thought of going into debt to start this adventure has caused my wife to not see my dream. Can this business be started from raw with nothing? If so where do I even start?
You will need cash or debt, its either one of the other.
Post: Land sale , capital gains question
- Investor
- Virginia
- Posts 19,439
- Votes 17,115
Definitely speak to a 1031 specialist as there is a lot that comes into factor / play including timing
Post: Raising Money: Remote Sale or Appointment Setter
- Investor
- Virginia
- Posts 19,439
- Votes 17,115
If you have any experience in private lending most of us are always looking for people to bring in more loans
Post: What Do You Do When a Borrower Goes Silent?
- Investor
- Virginia
- Posts 19,439
- Votes 17,115
get an attorney and file foreclosure suit against them. If you have a personal guaranty also get a deficiency judgment against them as well. Private lending is a business not a how nice a person can I be contest
Post: What to do with rental equity
- Investor
- Virginia
- Posts 19,439
- Votes 17,115
If you are low on reserve funds buying another asset is an awful idea. Either increase the rent or sell it and pocket some cash. Really depends on your overall situation, ability to manage your expenses and how stable is your income
Post: Turning a Note Into Cash – How It Works
- Investor
- Virginia
- Posts 19,439
- Votes 17,115
Post: What does your capital cost?
- Investor
- Virginia
- Posts 19,439
- Votes 17,115
Post: What’s the Minimum Amount Where a 1031 Exchange Makes Sense?
- Investor
- Virginia
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- Votes 17,115
This is all great information. I was curious as looking into options to offer those looking to do 1031 exchange and waas curious at what point its worthwhile - which the response is what I expected.
Post: How can I structure this into an owner finance deal
- Investor
- Virginia
- Posts 19,439
- Votes 17,115
Quote from @Antwan Davis:
Sellers Owes: $319,500
Monthly Payment: $2300
Zip: 30656
Currently lives in Florida and doesn't want to have to continue to pay two mortgages.
Any recommendation on how I create an opportunity from this scenario?
does not look like tihs is a deal. what makes you encouraged by it?
Post: Private Money or Traditional Lending?
- Investor
- Virginia
- Posts 19,439
- Votes 17,115
Quote from @Brandon Lee:
I’ve noticed more investors leaning on private money in today’s climate while others still prefer traditional loans.
If you had to choose one for your next deal, would you go with private or traditional — and why?
DSCR rates are close to traditional rates. I would still use traditional for my ten mortgages but if there is no recourse then i would pay the 50bps to go do DSCR. Most have a PG but i am typically conservative on LTV so not as worrisome as I look long term holds.
So to answer the question, it depends