All Forum Posts by: Christopher Canning

@Troy Gandee that would be great.  thanks.

@Parker Stiles - thanks for the heads up.  I'll check it out.

@John Knisely - Ha!  I like your style.

@John Knisely - thanks.  That's a good call.  I was hoping to be able to find a freely available source online, but if the easiest way is to just reach out to a local agent, I'll do it.

I'm looking to implement the BRRRR strategy on my first deal (SFH), but before I get in too far, I wanted to have a short list of local banks here in the Charleston, SC area lined up that could do a cash out refi for an LLC with a 15 or 30 year fixed rate.

The couple of banks I spoke to said that they could only do a commercial loan that would be amortized over 20 years with a 3 or 5 year balloon payment if the LLC was a full owner or a partial owner of the property. I'm willing to cosign the note with the LLC until the LLC has an established track record, but I want the LLC to actually own the property.

How is everyone else doing a cash our refi with their business and what banks are you using?

Thanks,

Chris

I'm looking to bounce SFH sale prices against rents. I've found plenty of sources for home sale prices that I can easily get in a downloadable format (csv) but I can't seem to find a downloadable database of rents vs zip code/neighborhood. I see that city-data as well as truila have heat maps, but I can't find a way to download the information and I'm not sure what database they are using to generate the maps. Any help would be appreciated.

Thanks,

Chris

I'm a beginner cash buyer, with no deals under my belt, and looking to connect and work with established wholesalers in my area to pursue my buy and hold goals, but why would any established wholesaler want to work with a beginner who maybe a bit gun shy on their first deal?   From their perspective I would think it would be more trouble than its worth.  I don't want to waste my time looking at bunch of deals that have already been passed up by other more experienced investors.

What can/should I do to prepare to work with a wholesaler to get on their A-list and prove to them that I maybe a bit gun shy, but I am serious.

@Dylan Tettemer  Sounds good.  Let me know.

@Russ Scheider that would be great.  I've definitely seen your posts around BP and some of your marketing around N. Charleston.  I'd be happy to share more with you with regards to what exactly I'm looking for.  

@Kevin Douglas - I've partnered up with a family member who also has cash and we've formed an LLC. However we are definitely looking to work with with wholesalers in the greater Charleston area to find off market properties, as we have found building an efficient marketing funnel is much easier said than done. That said, since my partner and I are still relatively new to the game, we be open to teaming with someone else if we can still meet goals, and we can learn something as well.