All Forum Posts by: Chris Severin

I've had my eye on some commercial properties with some great returns and fully occupied, but getting that huge down payment is the second biggest hurdle. How do you get your spouse on board with investing, because that's the biggest hurdle I have to face.

I want to use a portion of my life insurance as a down payment on a property. Can anyone who has ever done that shed some light on the subject? What should I be aware of while doing this?

Thanks for the response. Maybe I asked the question in a roundabout way, but your answer cleared things up. Is there a special reason why the asset manager is delaying the process, has there been a some sort of explanation as to not closing on the scheduled date? Also a follow-up question: how difficult was it to get financing (if this applies to your situation)?

Ok so I find a foreclosure deal...what happens next? I've heard that the asset managers can be a huge obstacle in moving forward with the process. Let's say that it takes 2 months to get to the closing table from when you first inquire about the property and everything else is cleared...Will the closing attorneys allow you to put that date on the papers or will they require you to put the actual closing date?

I'm new to the foreclosure process...what is that $11,000 home search fee?

Funny you said that because I saw a 4-plex closer to home that I have been eyeing for quite some time. It's been in disarray for at least 10 years, and the owner is inconsistent with keeping the lawn cut. My biggest obstacle is securing the financing, and this property needs a lot of work. How would I go about making a deal like this happen, assuming the owner is willing to sell?

Newbie trying to get in the investing game...I found a lot that interests me. I met the guy who first purchased it, and he said he was building on it after demolishing the old house. The lot is prime and ready to build on, but it's been about 5 years or so since I last saw that guy and the lot has gotten overgrown several times in that period. I think an 8-plex with 1bed 1bath units would fit in the space. My question is about how much would I expect to pay a builder to do this? I know markets are different, so just a ballpark figure.

I recently discovered that two properties I am interested in are located in a rough neighborhood. I don't know the area very well, as I live in one city and work in another 85 miles away. I do know some people that know the area much better than I, and what I gathered from these independent resources, they all had a common assessment of the area. One mentioned that the property is prime for section 8, but should I even consider that route for just starting out? I still need to line up the financing, but I still want to zero in on types of property.

Yes i am in fact speaking of the hard money loan. Here's another question: what would typical terms be on a hard money loan? I am looking to get 300k for a deal. What could possible payment terms be?

sorry the text editor messed up some of my post.