All Forum Posts by: Dain Hungelmann

Hello Bob, I'll PM you

@Jesse LeBlanc If by states you mean the lower 48, then yes, I am.

add me too pleade

[email protected]

thank you

I would still be putting the 20% down in the lenders eyes and the loan would still be 80% LTV. He would be paying off the second, non recorder mortgage at closing, which would come back to me to buy more properties.

Has anyone heard of this before? I've heard it can be done

@Brock Y. I don't think the lender would like the seller giving me a 25k credit.

I have half of funds for hard $

I'm an out of town investor coming to the area to look at 40+ unit apartment /condo that I currently have an LOI on and looking for a possible JV or equity partnership. All units are separate deeded I've flipped many houses and have rentals in other markets 20= years in the construction field.I would move down for the construction.

66% rented with below market rents.  So, $ coming from day 1.   20k a month  

-purchase 1.2m

-estimated rehab 700k -  roof, siding, new interiors

-All units are separate deeded

-multiple exit strategies; rehab & hold or more practical , sell the units off  70-80k each

-currently bringing in 20k a month

-renters can be our first buyers.

-each unit is 1500+ sf. some with fireplaces

- looking for recommendations for contractors ( with experience on bigger projects) and bonded as such , agents, landscapers.

-Accredited  $ investors

Offers wanted soon and owner wants POF with offer. I just tied up most of my $ in another project but

Since units are separately deeded you could buy half, 10, 15....

I'm open, and as the the saying goes, half of something is better than all if nothing..

PM me if your interest for more info.

Thanks for reading

I'm buying a multi  unit in Milwaukee for 85k  Valued at 110k.  Seller is willing to give back the 25k at closing ( my 20% down) but I'm trying to figure out the best/legal way to do it.  Lender will allow it for a 7-9% rate. Don't want to do that then refi for a better rate . I've been told i can do it if there's a second mortgage in place. So I was thinking about having them signing a second mortgage , non recorded, and he can pay it at closing.  Can I put it in my name or do i have to put in someone else's name?

They will also bid up the "new" guy so you actually get a bad deal. Make sure you have your cut off limit and STICK to it.  I've seen it happen to the best of them.

Good Luck

No prob not enough time. Well i see this post is from awhile ago. Just for reference sake, In Juneau when i got my flood insurance( I'm not to close to the water but live by a huge piece of ice on top of the mountain,) they just looked up what flood zone i was in and was able to write the policy@ @2100 a year.  My EC Cost me  $800 and my policy went down to $1100 

Hope that helps you in the future.

Would this happen to be in Clinton ?