All Forum Posts by: Pamela Gombe

Thank you that is a good suggestion. I will start looking at smaller regional banks. 

Originally posted by @Walid M.:

Hi Pamela.  I would recommend you work with smaller local/regional banks and establish relationships with them.  As time goes by and you work on bigger deals, they will likely be able to scale up with you until your deal size hits $10 Million (Not a hard number, each bank will differ).  If you go beyond that, sometimes you can get multiple banks to participate, or you will then have the track record to work with the larger banks.

Hello I am looking into getting started with CRE, the asset classes I am interested in are Industrial (e.g., warehouses, data centers, manufacturing buildings, or self-storage) and Special purpose (e.g.medical offices, pharmacy, hotel lodging, or health care). I sat down with an agent from Marcus and Millichamp to discuss how much we had for down payment 125K with that they recommended properties 416k-625k probably would be a single tenant, a 3000 sq ft building with a cap rate of 6%-8%. I am only familiar with purchasing with for a residential properties 4 units or less. I have been reading through as many CRE posts on BP, listening to podcasts and videos. I am learning CRE is mainly about relationships paired with creative financing. My questions are 1) which commercial lenders would you suggest for me to start working with 2) are these numbers I was quoted pretty standard Thank you for any feedback

Hello I am looking into getting started with CRE, the asset classes I am interested in are Industrial (e.g., warehouses, data centers, manufacturing buildings, or self-storage) and Special purpose (e.g.medical offices, pharmacy, hotel lodging, or health care). I sat down with an agent from Marcus and Millichamp to discuss how much we had for down payment 125K with that they recommended properties 416k-625k probably would be a single tenant, a 3000 sq ft building with a cap rate of 6%-8%. I am only familiar with purchasing with for a residential properties 4 units or less. I have been reading through as many CRE posts on BP, listening to podcasts and videos. I am learning CRE is mainly about relationships paired with creative financing. My questions are 1) which commercial lenders would you suggest for me to start working with 2) are these numbers I was quoted pretty standard Thank you for any feedback

Originally posted by @Carlos Licon:

I am currently looking at a Fourplex to house hack, I am planning to live in one unit and rent the others. Therefore, I plan on using an owner-occupied FHA Loan. However, I was speaking to some lenders and they are saying that I could only put 3.5% down on a Single Family or Duplex. That if the property is 3 or 4 units I need to put 25% down. Can anybody please verify this information?

I currently live in Albuquerque NM, and does anybody know a good lender?

Hello 

I ran into this Particular situation when I had already put in an offer for a triplex and the lender that I was working with said they did not do triplexes anymore.

Thank goodness for bigger pockets because I was able to get a referral to another lender and they’ve been really helpful.

So basically it’s all depends on the lender,

Look up  Elise Marquette  here on BiggerPockets she  really been amazing.

She listens to your goals and give you so much resources to help you.

Good luck! 

Originally posted by @Erica Larence-Penna:

@Pamela Gombe that is odd.  Reach out to @Elise Marquette she may be able to help!

 Hello Erica,

Thank you for the referral Elise has been great, so helpful and patient with us trying to purchase our multifamily.

@Alvin Sylvain

Thank you Alvin already started working with another lender.

Everything was going well until we got Into contract today.

These are really interesting times we are in currently.

Hello

I hope everyone is having a good day!

I am newbie to bigger pockets and excited to get into real estate investment.

My husband and myself currently reside in California but wanted to start investing in real estate in New Orleans.

We had found a multi family(triplex) home in New Orleans, and today the lender Loan Depot that had preapproved us told us that we have to find a new lender because as of last week they are not doing mortgages for multifamily homes on single family homes.

Has anyone experienced this?

It seems fishy but I wanted to check before calling HUD if anyone had heard of this.