All Forum Posts by: Micah K.

I currently own 2 quads. One is in traditional financing and the other is in private money. I need to get the one in private financing in long term financing. My banker will re finance it out with no cash out at 8% 15 yr ammort on a 3yr call or He will refinance both quads and a sfh that is a REO @ 5.5% 20 yr ammort on a 5 yr call. Here is the catch, i have to buy the sfh with little to no eqitity. He is allowing me to Cash out a significant ammount with the second option. My terms on the quad already in long term financing is 6.75% 15 yr ammort on a 3 yr call. i am already 1.5 yrs in. The debt services is about the same on both options. the projected rental income on the sfh is about 300 per month net. tell me what you think.

thank guys for your wonderful input.

I have a meeting set up with private lender. any advise on what to do to win this guy over? Do i need to have a presentation? business plan? or just answer his questions.
help?

Hey everyone. My name is Micah and i am new to the real estate investment world. I have done my research, but still lack some direction. I have had two deals fall through and one in the works that looks pretty solid. I am in the process of trying to land a private money lender, this is suppose to make my life much easier. I plan on doing both buy /rent/ sell and fix/sell. advise is all ways welcome!