All Forum Posts by: Brandon Hicks

@Marqus Freeman a lot of people here are mentioning ACH but what they’re getting is an ACH pushed from the tenant. The best rent collection method is where you PULL the ACH from their account. See if your bank has an option for you to do this. I’m set up through mine and have a special key fob token that I use to log in and have access to a different part of their website essentially. It was a game changer for my collections.

@Julio Gonzalez thank you but I’ve been on here for at least a decade already

@Al Barksdale we ended up going with Arvest Bank and it was the 3.95% on a 20 year amortization, 5 year loan and $1000 fee.

Why not just give him a MTM lease for up to 12 months with a stipulation that renegotiation of a new lease is made as part of the sale? I would think that you'd want to keep them in your building. 

@Karen Peck we were expecting to be in the 4.5% range with 25% down so between the lower rate and beating the sellers insurance cost by $600/year we’re pretty excited.

@Karen Peck our terms for comparison sake is a 80% of purchase price at 3.95% on a 5 year lock with a 20 year amortization. The origination fee is $1000

We were pleasantly surprised that most banks only wanted 20% down since we’re used to 25% down up in Northern Indiana where we live.

@Karen Peck we got approved last week so we’re all set. Thanks

This is 110% a General solicitation where you are offering equity. You need a better attorney for starters. I'd recommend finding a way to delete this post as well. 

Good afternoon, I'm looking for a bank or credit union to finance two small commercial properties near Paragould and Jonesboro for a group of out of state investors. We have the standard down payment, good balance sheets/income etc. Just need a local bank willing to work with out of state investors. 

Thanks in advance

I really enjoyed James Randol's book, Confession's of a Real Estate Entrepreneur. Here's the Amazon link

https://www.amazon.com/Confess...