All Forum Posts by: Adam Romano

@Nathan Wierzgac thanks Nathan, I will keep them in mind down the road.

Hi - I am closing on my first rental property. It is a buy and hold single family home that will be rented out to tenants. Is there a specific type of coverage I need to have or any specifics that need to be in my coverage? Thanks just making sure I check all the boxes here.

Hi! My partner and I are trying to close on our first off market deal and were planning on using a private investor for the down payment. However, our mortgage lender will not approve us using someone else's money, in gift or borrowed form, for the down payment. This is not a traditional bank, it is a lender who works strictly with investors and we were unaware of this oversight. We are looking for answers on how we navigate through this, where we can use the private investors' money for the down payment. Is that even possible? Would we have to establish a separate LLC, making them a partner? Thanks, and any feedback is appreciated.

Hi! My partner and I are trying to close on our first off market deal and were planning on using a private investor for the down payment. However, our mortgage lender will not approve us using someone else's money, in gift or borrowed form, for the down payment. This is not a traditional bank, it is a lender who works strictly with investors and we were unaware of this oversight. We are looking for answers on how we navigate through this, where we can use the private investors' money for the down payment. Is that even possible? Would we have to establish a separate LLC, making them a partner? Thanks, and any feedback is appreciated.

My partner and I are finalizing an off market deal and getting ready to go to an attorney to write up the terms of the contract. As far as contingencies go, what should we be wanting to add/ask the seller regarding any contingencies. I understand this might be generalized, this is our first off market deal, so looking for advice/help.

Thank you!

Thanks for the feedback Allen!

Hi - 

My partner and I recently came across a rental property where we would use private money to come up with the down payment as the property will be financed via a traditional mortgage. My partner and I have an LLC and our private money investor came back to us asking for equity in the deal. They are originally not part of our LLC. We are looking for feedback on how to properly execute this deal with the private investor where he has ownership in the deal? Do we create another LLC with the investor as an owner too? Have a real estate attorney right up an agreement? Thanks in advance for the help!

@Chris London @Danny Kaminsky @Katherine Serrell I have been following along on this conversation. It seems like you each have a good understanding of Durham. I am local investor in the triangle and was curious to hear what everyone's thoughts were on investing in N.Durham and NE Durham? Do you see that area becoming a good area over time? Anywhere 10-20 minutes from downtown. 

Looking forward to attending! Will be bringing a few others as well!

See you there!