All Forum Posts by: Alex Ng

I plan to purchase a property with an executory contract. I found a seller who is motivated to sell his property at a pretty steep discount.

My plan is to put the property in escrow on an executory contract/land contract with the condition that the title will transfer once the seller receives his funds. I will have POA and will conduct a 80% cash out refi, which the loan proceeds will then be paid to the seller and the title would then finally be transferred to me.

Can this strategy work? Can I refinance on a property that is not technically in my own name yet? How should I go best about this? Thanks

Are there any lenders or ways to finance the entry fee for subject to deals? This would allow an investor to scale their portfolio with creative financing. I do have a 10 unit portfolio that is subject to but would require 100k entry fee. I'm looking to see if there is some way to finance that 100k and how the terms would look for that? how do people scale their subject to deals

I've been looking to dive into the section 8 niche. Im looking to build a cashflow foundation. The issues I have is the chances of a problematic tenant. Would diligently screening them limit the risks of tenants damaging the property? Another thing i heard is the houses are older so once they move out, I'd have to spend 10-15k to rent to new tenants and all the cashflow I've made before goes away. Could an experienced s8 investor shed some light? Can I personally message someone.

 The loan insurance is in case we dont/cant pay back. He claims its directly paid to the company, called GLOW INSURANCE SERVICES.

The Title says it all. Currently met lender  who offers extremely good terms. 7% int only split over 2 years. He didn't ask for any upfront fees but does require payment for loan insurance. The loan insurance company seems legit. The loan consultant i met online referred me to this lender had a valid NMLS. I was wondering if loan insurance is a norm when borrowing private money? Want to know if I am walking into a scam

 Would you deter va loans too? What if I bought at a discount so there is some built in equity.

 what if i can purchase property at a discount so theres some built in equity? And I choose locations where people would want to stay.

is it risky to use a va loan then?

Hi, I'm looking to scale my portfolio. I was thinking of purchasing small multifam 2-4 units with DSCR and using personal loans to cover the 20-25% DP. I choose multifam because they have higher cash flow. I ran some numbers on a few markets and I find I can cash flow 500+ with my 100% LTV method. Is this worth pursuing? I am aware 100% LTV could risk overleveraging. I was wondering if there were risk mitigation strategies I could employ. I plan to save the rental income for reserves, screen tenants properly, buy in C+ to B class properties.

 Messaged you!

Hi I currently got under contract for a hybrid deal in 44120. I wanted to know about the area. Is it good for airbnb? I did see properties for lower priced. Would love to talk to some experienced investors in cleveland and pick their brains!