All Forum Posts by: BJ Everson

@Remington Lyman & @Zeke Liston Do you mind sharing with me as well?

@Steven J. Umaña agreed. They can get re-syndicated for another 15yr stream of LIHTC (10 yr credits, 15 yr compliance)

@Steven J. Umaña I work for an insurance company where I AM a portfolio of LIHTC assets. Really good industry of RE and has a good social drive (affordable housing) and strong supply needs. We invest in both the 9 & 4%. 

@Peter Fennig both the comments before mine are great advice.

Can go fully private financing to get around bank credit score requirements.

Bring in a credit partner like Kenneth mentioned and will need to have the loan in their name but then you can put the deed in the LLC you're both a part of with the agreed upon split.

Finally, you can add a Guarantor to the loan for a guarantor fee structure. I've seen this on apartment deals in the past, but you can bring it to the SFH world as well. Message me if you'd like to talk further.

@Devin Bost is there any work needed on the Plex? Or just a flat out purchase and hold? Who’s name is on the mortgage?

Does your private lender want to be part of the property for the long term or just looking for a short term play? Setting it as another loan is fine, I would just have it amortized over 20-30 yrs to keep the payment low. And you’ll need to do the math if the rents can cover mortgage, private loan and still a return for yourself.

If there is work to be done then I would make it a loan and look to refi after the work and pay off your friend with the upward refi.

If your private lender wants the long term then I’d go 50/50 sharing in the exp and income of the plex. Your 50 is deal sourcing, financing and running the rental while the private lender just provided down payment.

@Forrest Shaw $350k base would be a start. You could attempt a lower amount ($200-225k) just off campus and try to get student rentals but might be a gamble.

@Arianne Craig Jolla What state are you in? Depending, I have a HML to refer you to.

@Anthony DeMichael Where are you located? I have a HML that will do 100% purchase + rehab costs. Message me directly.

@Evan Polaski you are in my state and I have a HML that will if you're interested also. Let me know.

@Jimmy Lieu Interested in why you selected Columbus and what type of investing you are looking to do (renovate and hold as rental, flip, etc). I have hard money lender or conventional lenders to recommend all depending on what you are looking to do. Please message me and I'd be happy to help. 

@Raul Velazquez Jr I've been successful with FB Marketplace. If you want retail, go to Appliance Mart on East Main St and tell the you're looking for appliances for a rental and they'll know what you're looking for. All in good working order, but has scratch/dent in places that you normally wouldnt see anyway depending on kitchen layout.