All Forum Posts by: Alfredo Alfaro

I haven't done any yet but am actively looking to start. Either on my own flip or JV'ing with someone.

Im just looking to see what options are out there. Im also, when talking to the seller, going to ask if they're open to terms. If the seller will seller finance for a few months while I fix and flip then I won't technically need a HML depending on the deal. Just getting a feel is all. Always open to possibilities.

Hello. I am interested and eager to get started. I am in the North Georgia Cobb County area looking to JV for experience and can help with funding. Lets network and we can come to an arrangement and see if we can partner.

The idea was to use HML with some PML to be able to find more deals and to not drain all liquidity and have additional funds available for the unforeseen circumstances that could happen during rehab.

Hello everyone, 

I was wondering if HML "Require" that the 15-20% be "your" funds or if it can be from your partner, if in a partnership, or if it can be from family or a PML. Just asking if the funds strictly have to be your funds and if those funds have to have been in your account for a specified amount of time. I understand that HML should be fairly easy to attain but it seems like some of the requirements that are asked of are somewhat the same as traditional lenders on some of the requirements.

I have funds currently but want to know if alternatives for the 15-20% are available. 

Hello, 

I was wondering if anyone has ever structured a HML where you could get 100% of the purchase price and you would fund the whole rehab?

Is this something a HML might consider? Or no?

I am not saying that they wouldn't charge the points or interest that's still a given but as far as the rest if this is a possible structure. 

Thank you. 

Hello Everyone,

I have spoken to a few Contractors about their pricing and how they structure the payouts and have found a good couple that charge 50% up front to start and then 50% at finishing. 

What kind of setup for the payment structures do you have for the contractors you work with and did you start out that way or did you change the payment structure after using them multiple times? 

I don't want to come off disrespectful to them or their work but also if a rehab is going to be 50k or more, that is a lot to come out of pocket up front and with restrictions of hard money and some lenders they require work to be done before paying out or allowing a draw. 

Just looking for previous experiences or some guidance on how to proceed with contractors please. 

Any information helps. Thank you very much. 

In some video's I've seen some people mention that they could do so and then subto the property. Just wondering if anyone has had experience at all before with it. 

Should you starting out purchase properties under your LLC name or your personal name when purchasing multifamily?

For this posts purposes lets say 3 or more units.

Would it be better to purchase under your personal name and then quitclaim the deed to your LLC?

Which would be easier when it comes time to refinance out some equity when you have the ability to do so? 

Any information is appreciated. Thank you.

Hello, 

I was wondering if anyone has had any experience with creatively funding a deal with the seller refinancing their mortgage. 

If the seller is willing to refinance they would benefit from this by getting money back "capital gains tax free" because it is essentially a loan and not a sale. 

Say the owner has had the property for a couple years and hasn't lived in it for a while and has been renting it this whole time. The equity that has built up into the property he would refinance out and he could "act" as your private money lender in a sense. 

When you finish rehabbing the property you could now finance the property under your LLC or Personal and then quitclaim the property over and buy the property out.

Has anyone ever structured a deal this way or have some experience with something similar? 

Just thinking of creative ways of funding some projects if the opportunity is available. Any information is appreciated. Thank you in advance. 

Hello, 

I was wondering if anyone could explain when a construction or rehab insurance coverage or policy is needed while the house/multifamily is being remodeled/rehabed? 

When would you need it versus when you wouldn't? 

Any information helps. Thank you in advance.