All Forum Posts by: Bryan Tilos

Originally posted by @Khenkis K.:

@Bryan Tilos Have you ever considered soft money? Their interest rates are usually in the 6%-9% range and typically consist of some sort of step-up 30 yr. This places you at a slightly lower rate than HML along with a 30 yr term you're looking for, structured of course.

I have not considered soft money. I'll have to check it out, thanks!

So, I've been locked in with a hard-money lender for a couple of years now. I purchased a couple of properties with them and they funded my deals 70% LTV. Great relationship yet I am thinking of refinancing my rentals into a 30-year loan with a 4-6%. Reason being is a) lower interest, and b) cash flow.

I refinanced one of my properties to a 15-yr (6%), which was great but after thinking about, I should have refinanced to a 30-year. What is the best way to do this?

Can I refinance with another hard-money lender? Or will it have to be with a bank (commercial side)? I know most banks that deal with investment properties they like to lock you in at 15-years but haven't heard of 30-yr.

Thoughts? TIA!

So, I've been locked in with a hard-money lender for a couple of years now. I purchased a couple of properties with them and they funded my deals 70% LTV. Great relationship yet I am thinking of refinancing my rentals into a 30-year loan with a 4-6%. Reason being is a) lower interest, and b) cash flow.

I refinanced one of my properties to a 15-yr (6%), which was great but after thinking about, I should have refinanced to a 30-year. What is the best way to do this? 

Can I refinance with another hard-money lender? Or will it have to be with a bank (commercial side)? I know most banks that deal with investment properties they like to lock you in at 15-years but haven't heard of 30-yr.

Thoughts? TIA!

In my experience, I've used Old Republic Title Company at 5627 N Classen Blvd, #101. They're accustomed doing transactions with local investors, and know the process really well. They're also familiar with double closing. My two cents...

Great question, Josh! I'm a Realtor and I set expectations with my investors. My recommendation is to invite the Realtor to coffee/lunch and let them know what your goals are. Typically if I see 30 houses a week with very little offers, I'm gonna start flagging this as a waste of time. It's important that you do your due diligence as an investor and find out what properties you want to look at it. This way, both parties are benefiting each other's time. Hope this helps :)! Let me know how I can help you or clarify any Realtor info.

Awesome! My hometown is Bremerton and I'm living here in Oklahoma. Welcome to BP! Looking forward to connecting. I'd like to purchase a property in WA in the near future!

Hi Lou,

I've closed at Old Republic Title Company on 5627 N Classen Blvd. They are super investor friendly and A LOT of wholesale deals have come through here. Pam and Beretha are awesome!

Patrick Britton -- you said it: consistency. I timeblock 2 hrs out of my day to tap into my SOI (Sphere of Influence) and so far, I've been getting awesome get referrals and two listings appointments in the last month! Check out 7 Levels of Communication by Michael Maher. It's awesome. Man, you're on point about being comfortable. Whatever works for you, focus on that and get really good at it :).

My Top 3: 1) Think and Grow Rich by Napoleon Hill 2) How to Win Friends and Influence People by Dale Carnegie 3) The One Thing by Gary Keller These three are my "pillars" as an Realtor. After all, it's all about building relationships :).

Welcome to BP! I started real estate investing 6 months ago, and decided to become an agent along the way. One advice I'd give is to plug into your local REIA (Real Estate Investing Associations). I learned a lot and networked with like-minded people. The associations you meet at this meetup can give you a better perspective on investing and help you. Looking forward to seeing you on the BP forum!