All Forum Posts by: Bret Halsey

I have a few deals I'm working to get seller financing on but will require a down payment. Ideally I can find a debt partner who's willing to gap lend those funds for a flat rate return, since the deals cash flow very well, and I'd prefer to retain as much equity as possible. For those who have raised funds like this before, what's the best places to look? I'd think people with funds they don't need for 1-5 years and with trust in you and the business would be ideal candidates. 

I have a 12 unit building that I'm in talks with seller on. He's offered it to me on a lease-option agreement, with a "purchase price" of $1.2M, "down payment" of $200k and 5% interest only payments on the $1M debt. Am I correct to assume this is very similar to seller financing however without title transfer since there's underlying debt he doesn't want to trigger due on sale clause? Any other detriments to the lease-option method I should consider or protect myself against? I'd be worried about making improvements on the property without really owning it yet. With regards to a land-contract, could that help me out in this scenario? What's the main differences there?

I have a seller finance deal I’m working and looking for funds for the down payment. 13 units under market value and cash flowing. Ideally want a partner who I can just pay a flat return to consistently and they don’t have to worry about anything. What is the best way to find someone like this?

Looking to purchase a property by assuming the current FHA loan, and securing a second mortgage, ideally up to 95% LTV since it'll be an owner occ. I found this property off market and will not be using a realtor. With regards to the purchase contract, I'm guessing I'll put assumption down as the method of purchase and include a note about seeking a second mortgage as well. I'm considering having a financing contingency for 95% LTV on the second, as well as an inspection contingency for certain items that come up on the walkthrough. Other than that, will I need to have an appraisal contingency if I'm assuming that FHA loan? I'm guessing the lender on the second might want one, but I'm thinking the current FHA loan servicer may just want to qualify me, which I should have no problem with.

Finally, will this assumption count as my 1 FHA eligible loan? Or could I go and in a year purchase another 4fam with another FHA loan without having to refi?

Hey all, I've spent a lot of time analyzing properties as potential BRRR deals, however, I've found a 4 family that I'd be happy just putting a down payment on and letting it cashflow right away with no short term refinancing or sale strategy. Obviously in general I'd expect to put 20% down but I'm wondering if there are options that would be less, like 15% - also does it make sense to seek out a local bank/credit union for better terms? Or are most lenders pretty similar with regards to these traditional products?

Hey all, what loan products are available, besides FHA, to acquire a 2-4 unit building with less than 20% down as an owner occupant? I've talked to a lender about a 10% down conventional product, but ideally would only have to come out of pocket 5%. Also, is it possible to do an FHA cash out refinance on a property I already own and get out 96.5% LTV?

@Don-Carlos Moniz makes sense. What about a line of credit? That may be more in line with his goals, having something to draw on when there's opportunity as opposed to cashing out some equity to pay on right away.

@Don-Carlos Moniz Thanks for the info. Do you have any lenders you know may be interested in this type of financing? What are the questions you'd typically ask to find something that would best suit these needs?

Hey all, I have an investor buddy of mine who owns several dozen properties free and clear. They're located within 2 cities adjacent to each other. He's considering leveraging some of the equity to expand his portfolio. My question is this: what products are out there that would allow him to access that equity without a personal guarantee? These properties cash flow heavily so was thinking about some sort of DSCR or commercial portfolio refinance/line of credit option but would love to hear what might be out there regarding this.

Hey all, I'm curious on the viability of having the seller carry a portion of the sale price so that the down payment and out of pocket costs might be lessened or eliminated. For example, if I buy a property for $100k, and the seller agrees to hold $20k, could I potentially not have to come out of pocket at all? I'd plan to use this strategy on portfolios/commercial deals where there is a high DSCR upside. Is this possible and what kind of lenders should I be speaking to if so?