All Forum Posts by: Andrea Sleek

 Thanks Pippa! I just private messaged you my info.

Hi Devin - do you have a DSCR loan that will allow less than 20% down? That's the hardest thing I'm finding.

I received an email from them today as well after seeing a post on an investor group site.

Says BBB Accredited Business but BBB site doesn't have them listed at all.

Looking to work with a Private Money lender on a triplex in Michigan ASAP. Ideally putting minimal down and close in my LLC's name.

Does anyone have a good experience with a PM lender that they can share or will recommend? 

So many scammers out there it's hard to believe any of them.

Thanks Rene! Please keep us in the loop as to how it shakes out with them & good luck!

Has anyone had experience with Lender One LLC out of Shaker Heights Ohio?

There isn't anything on the BBB about them.

Rates and terms seem really good - swift process,  just leery about a company I've not used or heard of before.

Thanks for any input if anyone has any.

I property manage 100's of single family homes and one of my property owners asked about the system so I purchased it (on a discount through E-Bay I believe). There was some helpful information, however it gives you no real direction as to who to contact and speak with at these government agencies to market your properties. I was hoping there would be more useful assistance. He suggests you "go through the yellow pages" and look under certain categories.  I actually did some internet searches and was never able to get anyone to call me back as I targeted Vetrans agencies.

Basically in a nut shell you are a long term Air B&B. so you will need to provide furnishings and likely rotate roommates in and out of the property - which the "agency" will help you with.

I was disappointed but if anyone out there had better luck getting in touch with the "agencies" that are in need of this type of housing I'd love to know who they contacted and how it went.

Investment Info:

Single-family residence buy & hold investment in Livonia.

Purchase price: $152,000
Cash invested: $4,000

Perfect property for long term rental. Finished basement with extra bath, game room , family room and bar. Good schools. Solid brick construction. Great cash flow!

What made you interested in investing in this type of deal?

I primarily buy single family homes although I'm currently looking into a duplex as my next project.

How did you find this deal and how did you negotiate it?

Actually found it on the MLS.

How did you finance this deal?

30 year Bank loan then re-financed with a 15 year after only a few years and actually cut my monthly payment as well.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I'm a Realtor so I was the first to walk in the door the minute it hit the market and made an offer before the 2nd showing even happened that day.

I waited too long to buy a ticket as I was nervous the Sheraton wouldn't be open by then and now BP CON is SOLD OUT. If anyone has a ticket but cannot attend let me know. I'll happily buy it as I'm on the Waitlist with BP. Already have my flight booked so really hoping to be able to attend. Andrea Sleek