All Forum Posts by: Christopher Hunter

Quote from @Chris Caldwell:

There are some wholesale lenders that offer a HELOAN (fixed rate second mortgage) up to 90% LTV on an investment property.

Lenders will require 6 months of ownership prior to getting the HELOAN. 

 Chris could you please share what lenders are doing these high ltv HELOANS thank you.

Quote from @Stacy Raskin:

I work with lenders that do HELOCs and fixed 2nd mortgages on investment properties. 

Care to share?

Quote from @Will Fraser:

This is exceedingly difficult because the asset is often not owned EVEN AFTER THE SALE!  Weirdest thing!  Depending on your state's definition of the "Right of Redemption", the foreclosed-upon person has the right to redeem the property after the sale (in Oklahoma that is up to 30 days after the sale, and in other states it is up to a year!!).  

There are a number of lenders in my market that will loan on this -- all of them are commercial lenders and the loan products usually have a higher origination fee (surely to compensate for all of the chaos they go through on these loans).

If you are certain that this is a good strategy for you (I'd encourage you to read the chapter on Sheriff's Sales in Zillow Talk) then a hard-money lender, a commercial lender, or a private money partner would be the best contact to have.

Good luck in the life!

Hey Will

I was hoping you might be able to connect me with some of these lenders that work with Sheriff sales if possible. I'm in the same situation looking to put 50% down if that helps at all taking some of the risk.

Quote from @Remington Lyman:

Quote from @Lelith Walker:

I am more for cash flow than appreciation.  Indiana, Ohio, and Texas is where I would like to focus.

 The cash flow in Ohio is great!

 Wish someone could show me where. I keep. hearing Ohio constantly, haven't found anything to buy yet besides a ductaped rehabbed portfolio. 

After months of rejected funding, finally got a 250k HELOC. I've been looking for weeks, there's literally nothing out there cashflowing enough to pay Loan, HELOC, management, and all other rental expenses.

I fear it may be too late to enter the game at this point. If anyone has a legit portfolio or other cashflowing homes that aren't rehabbed, ductaped 30k projects, I'm ready.

Quote from @Steven Foster Wilson:

Quote from @Christopher Hunter:

Greetings family 

After months of fighting tooth and nail and so many dead ends. I found a Credit Union who funded a 250k HELOC on a NOO property in Cali at 75LTV...these things are like Unicorn relics in this current market.

I have several SFH rentals but never ventured into anything else. Im really looking for a solid deal on a double digit unit multifamily that cashflows after paying my HELOC, Loan, and associated expenses.

It almost appears as if the deals dried along with the funding, right when I got funding...finally. appreciate any and all help with properties, brokers, advice, etc. Also shopping in the Chicago and ILLinois area, however open to out of state.

 I recommend the major cities in Ohio:
-Columbus, great for appreciation, pp is a bit higher around $220k for multifamily

-Cincinnati, has a mix of cash flow and appreciation, average multifamily around $180k

-Cleveland, has alot of cashflow potential, average multiform around $140k

There are other smaller markets like Dayton, Akron, and and Newark, which we are starting to see these areas boom due to huge investors and corporations like Intel choosing to set up shop in these kind of areas.

Looking for cashflow? Look into Cleveland, its got good cashflow potential with appreciation happening as well.

Looking for appreciation come to Columbus, there are still 1% deals, but the more attractive part is the population growth and other economic drivers!

Let me know if you want to talk more about those areas or if you have interest in them. 

 Would love to get more information when you have the chance, or speak to you or someone on your team.

Quote from @Edgar Barbosa:

Hello @Christopher Hunter, if i may ask, what attracts you to the Chicago (IL) Market? 

I'm stationed in Great Lakes as a drill instructor in the Navy, so I prefer to get eyes on my investment properties. If I was moving major volume, I probably wouldn't care, but when my next big move consumes all my funding, I just want to have a better warm and fuzzy with the deal I'm buying. Also Illinois seems to have the most supply of all brick multifamily units which I think is a plus. Mostly in the lower income housing districts, but if the cap/NOI is good, I'm ready. Does it cash flow, is their potential to grow the rents, is the market there up and coming, if so and the price is right....I want it.

Quote from @Chris Winslow:

Hi @christopher hunter, connect with @john warren for investments in the Chicago area, awesome realtor and investor

 Do you need a realtor or a broker dealing with large multifamily units? I keep seeing different advice on here about not going with a real estate agent on multifamily properties because brokers aren't going to split commision?

Greetings family 

After months of fighting tooth and nail and so many dead ends. I found a Credit Union who funded a 250k HELOC on a NOO property in Cali at 75LTV...these things are like Unicorn relics in this current market.

I have several SFH rentals but never ventured into anything else. Im really looking for a solid deal on a double digit unit multifamily that cashflows after paying my HELOC, Loan, and associated expenses.

It almost appears as if the deals dried along with the funding, right when I got funding...finally. appreciate any and all help with properties, brokers, advice, etc. Also shopping in the Chicago and ILLinois area, however open to out of state.

Thank you so much Patricia. Yes I see the free money is drying up fast, but I've got about 300k equity to leverage, enough to hopefully get my foot in the door and crack this thing open. Worst case scenario I continue scaling up at a turtles pace.