All Forum Posts by: Bonnie Staples

@Ray Harrell - Hi Ray, Most commercial lenders will want 20-25% down.  However to help with that we primary Syndicate deals - which in simple terms means we do group purchases -- There are rules around that but they are very doable - And it helps you leverage all the resources available.  Example one of our purchases the down payment was $1.2 million - and I promise we do not have that laying around.  So we syndicated the deal and closed the deal with 16 other investors. This might be something for you to consider. 

@Mike Dymski - Mike I agree Old Capital is amazing and James is my go to guy.  He is amazing and very responsive --- I'm pretty sure he is from another planet - as it seems he never sleeps!!  

@Mike Dymski - I agree I actually work with Old Capital on most of our acquisitions and that relationship is extremely valuable thru all the processes -- While you are listening to Old Capital podcast - check out #33 you will hear our story - I hope you will find some helpful nuggets of information!!

Hi Kaz, Tenants still have rights in these states and landlords must always fulfill their obligation to provide safe housing, but these top 8 states give landlords more tools to use to rectify problematic tenant relationships. Each State has different reasons they are chosen as "Landlord Friendly". You may find some helpful insight on http://www.landlordstation.com/blog/top-landlord-friendly-states/

Hi Mark,

A consideration is that the seller pays a commission on the purchase price and many of your closing cost are base on the same - so be sure to compare which way is your best option. 

I hope you find this as helpful!!

Bonnie

Hi Brian, We always ask the Broker the "whisper" price - Although the sales price may be listed as TBD - The seller will usually have a targeted "whisper" price. 

Then if your price is far, yet you feel you still would want property and that you've done a great analysis - then I would approach broker to let him know you like the deal - yet are unable to make the whisper price work,  explain that you do not want to insult the seller or the broker ( as you are building these relationships) The selling Broker may give you some words of wisdom to win the deal, as they have undisclosed info.

When you make your offer always include your resume and maybe your story on why you want this property and why you are a good fit. Perhaps your PFS " Personal Financial Statement - and proof of funds or liquidity, are also helpful.

GO GET'EM 

Every step made works together for a profitable learning experience!!! 

Happy Investing!!

Hi Abraham, We suggest you have discussions with lender very early -,even prior to indentifing a property -your relationship is critical to your offer. Also I strongly suggest using a mortgage broker like Old Capital, as they Can save you lots of time and money plus make sure you have all forms and facts together properly, to insure a smooth closing!! Best to you!!

Top Landlord Friendly States

Prior to investing in any other state we always suggest 1st step is to make sure State is Landlord Friendly. You can find on google. I hope you find this helpful!!