All Forum Posts by: Caleb Haney

@Lanny Necaise

Hey Lannie, I know it’s been over a year but are your properties still available?

@Steve Frye

Hey Steve, are your units still for sale?

When getting a loan through a bank for a rental property do you use a commercial loan or residential loan? I have used commercial loans because it seems like it would be unethical to use a residential loan but not sure if I am missing something?

I want to shore up a confusion I have been having. I own two properties through a traditional loan 1. already had a renter in it so I have done no work to it yet 2. is a duplex that I am going to be doing some minor work to in the next few weeks. I want to be ready to refinance when the next deal is found. 

My confusion is when you refinance do you get 70% of the equity back, 100% of the equity back, or do you get 70% of the loan back? 

For example: 

Purchase price $100,000

Down Payment $20,000

After improvement value $120,000

If I were wanting to refinance to purchase another house what would I get back from this above example?

I work on a college campus and it is cool/concerning sometimes the amount I hear people talking about wanting to get into real estate investing after college. I know people will always need housing and that it's a small percentage of people who actually ever end up buying, but do you guys think the market could ever be saturated from so many people wanting to invest? 

I have a large privet lender willing to become my bank but I don’t know where to start.

So I am 25 and have closed my first deal 6 months ago and in contract on my first duplex. I am loving it and desire to set my family up for financial success because I am actually a college minister. I desire to continue to buy more investments but I am not swimming in cash. My dad and I have partnered on these deals and are moving forward.

Here is the kicker this large privet lender who is interested is also my dad. He has done very well in his line of work and has retired and has a lot of cash. He has even mentioned he is interested in being my bank, so ever since I herd that I have been trying to research how he can do this to his benefit, and I am also hoping to be able to put low to no money down.

What I am hoping is that some folks would be able to point me in some direction of to what to read or where I can learn, and let me know if this situation is impossible or workable.