All Forum Posts by: April Chim

I am looking to invest in 5-20 multi units in the northern Dallas Fort-Worth area. Has anyone found /done multi-unit investing in that area through commercial broker deal? PM if you have any recommendations. Thank you. 

Great question-I am on same boat. Looking forward to seeing responses. 

How about having tenant direct deposit into your business account..

It is not necessary to do right away. It can be done later. In fact having an LLC to purchase the property can complicate the purchase/loan process. You should contact an attorney that specializes in asset protection.

@Jeff Kehl I talking about commercial loan. Did you go thru portfolio lender or a traditional direct lender?

@Salvatore Lentini 

Even if it's a value add, banks are saying they have clauses to prevent secondary lender. Do you mean to have private lender agreement backed by personal guaranteed and money transferred to my account prior to deal contract/loan?

There are a lot of talk about investing in RE with little or no money of your own but I asked a few lenders and they tell me that most lenders do not allow you to take on a second loan on a commercial deal because they are afraid you stretch yourself too thin.  So my question is how can you get additional financing to help with pay the downpayment that the bank requires if the bank doesn't allow it? How can you make the deal work if don't have enough capital to cover the downpayment if you are going at it alone?

Anyone has suggestions on how to find good wholesalers in my area that has been in the wholesaling business for a while?

Following- I was considering the same thing myself and wondering how to do syndication