All Forum Posts by: Clovis Mcclain

Also with 14 homes under your belt is there a cash out equity play you can use for down payment on a commercial deal. If not therr has to be a portfolio loan option in there somewhere. 14 homes (depending)  sounds like a super solid asset base ripe for extraction 

If thats your only fear then rest assured. What ive learned thus far is that financing commercial is a lot easier than residential. Sellers having never lived in the property and only bought it for its profit potential are a lot less emotional about the property in question and view it as the business it is. They're also more inclined to seller carry partial or in some cases a great majority of the purchase price. Lenders as well allow a certain percentage of seller carry with commercial deals. Ive heard of investore achieving residential-like down payment amounts out of pocket using seller carry to act as a major portion of the buyers down payment %. Im learning there are plenty of ways to manufacture a commercial deal. Congrats on your current portfolio. Where do you currently own them

Hello all. I just wanted to introduce myself to the group. My name is Clovis Mcclain and im a cdl truck driver by day and a real estate investor/landlord on my own time. My end goal is to replace my J.O.B. income with the passive income afforded through R.E. investing. I to date have employed a buy and hold strategy having aquired 2 doors with a business partner and 7 on my own of which i reside in 1 (triplex) so i guess only 6 cash flowing solo doors. Im looking to upgrade from the condos (2), rowhouses (1),   and three families (2) that ive cut my teeth on and move into the very appealing commercial apartment building arena utilizing the value add strategy. Im definitely open to jv deals, any and all advice, tidbits, breadcrumbs, constructive criticism, questions etc. My ego is well in check unlike my untamed refocused desire to succeed, with integrity of course. Growing up doing carpentry with my uncle for 10 yrs and then seeing those late night infomercials (yeah i know. Lol) is what caused the light bulb to go off, and what led me to pursue this path to financial independence. Those years doing carpentry helps tremendously when im vetting a property as well as the 2 years i spent working with coastal plumbing out of milford ct. Bp is a Godsend for anyone interested in R.E. investing (but of course, if your here reading this then you already know that) im currently about 120 podcast vidoes in with no plans of stopping until im caught up to the current shows. Going through about 5 a day while im driving for work makes it pretty easy. Wish you all the success you can handle in 2020 and beyond. Heres to a prosperous investing Decade!!!!