All Forum Posts by: Chris Youssi

Try U S Bank A national lender just got a quote yesterday sub 4.5% National lender publicly traded company credit must be stellar!

Best wishes moving forward!

“‘If you can’?” said Jesus. “Everything is possible for one who believes.”

Jordan congrats on your decision to move forward in this amazing business - all things real estate! I started out buying C mainly D props nearly 40 years ago - sold them all shortly after ( 7 years later ) our daughter was born - got my license at age 25 sold part time when she was born left working for local utility then went full time as a Realtor. Year 2000 did my first Development built close to 100 rentals sold them thru the correction that helped me survive then used my equity to completely rebuild our company. Now we own 5 companies ( 2 are rental companies ) and are very diversified in all things real estate. Out of all 5 companies far and away love the rentals the best EZ to manage buy sell repeat. Anyway . . .  IMHO get with a local mentor as in intern the summer you graduate. Ideally the ones I would recommend would be property management company - real estate company  - Residential / multi family developer.Any of those can help you on your way. Books to read in order of importance iMHO Bible try to read daily and Richest man in Babylon - read it every year ( I get you have the audio but IMHO hard copy forces you to slow down and apply what you have learned  - a 19 year young man I am mentoring just gave me a 7 page single spaced book report on the book / it was my only condition on helping him ) for the last 15 years - my bride finally bought me an old school hard copy that I treasure. I am excited and happy for you - best wishes moving forward! Stay focused!!!!!

Bukka was wondering how things worked out for you in your CC  ventures.

Last year 11 months ago I was sold on Community banks / credit unions. Interesting what an 11 month difference makes as I just secured a 5 year commercial rate with a national lender for 4.41% no junk fees no prepayment etc...  Keep searching be patient you know the drill!

Best wishes

Congrats Robert and welcome to the game. If you have not heard we have a monthly meetup at Sams on riverside first Monday of every month @ 6 pm - just ask for Bigger Pockets group. I would love to have you join us this month. Good for you for jumping in and getting started. No such thing as the perfect deal just deals seeking perfection IMHO. PM if I can help or you want to meetup for lunch sometime , again congrats love this biz!

>>>> Love SFH have 32+ working on 4 at the moment with another short sale awaiting lender approval.I have owned attached and am in fact building some in our market. Prefer SFH far and away for the following reasons:

Easier to rent / more responsible tenant - built in buyer - lower maintenance issues ( tenants typically take care of incidentals )  - larger appreciation  - easier to sell - larger cash flow - low vacancy rates ( 1.2 % average over the last 3 years ) - easier to overall manage 

All my units are in Winnebago County with the following averages appraised value $88,000 / cash flow $312 m / LTV 67.2% / 5+ and 13+ remaining amortizations ( originally 7 and 15 full termed ) monthly expenses $54 m 2018 47 m 2017 so technically net cash flow would be $258 2018 and $265 2017. We purchase and rehab everything and fix it to the 9's to avoid unexpected capital expenditures. Total out of pocket all props $60K ( not counting holding while we rehab ) for rehabs. We purchase everything "cash" which is a LOC issued by my lender - put our own funds in for rehab then refi get vast majority of funds returned. Rockvegas great place to live and invest IMHO.

Best wishes moving forward!

Richest man in Babylon - best business book you will ever read IMHO.

Simple concepts we all need to be reminded of as we go thru life. I read it every year and have for 15+ years have lost track given out nearly 50.

Ask Real estate agent to give you referrals,  or google for information.

Why mortgage broker? I would recommend a local community bank - typically much more flexibility and easier to finance. In my experience mortgage brokers charge numerous junk fees and rates are not competitive. Talk to 3 different lenders and make an informed decision. Ideal Community bank assets bases under 1Billion. Best wishes moving forward.