All Forum Posts by: Account Closed

Hi all!! This chain is amazing! Upstate and Westchester, NY investor here.

Are there any women's investor groups that people are part of and would recommend?

Cheers 🥂🥂

@Bryan Beal you go back to your normal life, I'm gonna keep social distancing thanks.

Wow, thank you all for the replies! Really meaningful discussion, thank you again. I think the reality is hard for folks to face but I agree that we really have no idea how long it's going to take for things to stablize, and that the skyrocketing unemployment, pumping trillions into the economy, bottom oil prices, etc., have deep ramifications. Some of them are clearly already here, a halt on lending was unthinkable just a month or two ago.

I know you're supposed to be greedy when others are fearful, but I think we're going to wait for the dust to settle a bit before we look for our next property. See how prices look come Fall, Winter 2021.

Our cash reserves come from our full time W2 jobs currently. We had been putting a lot of money into a fixer upper. Repairs are now only on an emergency basis, so we will see how much we can start building up the non-W2 reserve.

Provided we don't lose our W2 jobs, we currently have at least a six month reserve.

I'm sure most folks have seen that JPMorgan Chase is tightening mortgage borrowing standards. What does the economic outlook mean for hard money lenders, and for portfolio lenders?

I know it's not conventional lending like what JPMC is tied to, but how will the outlook change your lending? Are you tightening restrictions, worried about overleveraged investors in your current portfolio? Conversely, are you excited about the opportunities that will arise from a downturn and seeking to expand your portfolio?

Really interested to know what actual hard money lenders are thinking, or folks who have worked with one in recent weeks. Lot of speculation about what lending is going to look like in the near future, would like to hear your take and game plan.

How does financing work with a SLLC, would the lender look at the parent + all child LLCs as a whole, or simply look at the respective child LLC? We like the idea of the SLLC from an asset protection standpoint but wondering what experiences folks have had with getting financing using a SLLC.

Establishing a Series LLC in Texas. Who did you use to file and transfer deeds? I have found a few potential firms, but curious to hear about other people's experiences.

@Tim Herman, @Theresa Harris fair enough. The contract makes it clear, I definitely have my answer.

Yes, they did provide this @Lexi Teifke. Always something in the 11th hour before a close, we're going to push for a credit.

Yes, fortunately the contract is very clear on this @Tim Herman. Is it best then to put the onerous on the seller for either the credit, or getting them back from the tenants? In the interest of time, I was debating just re-collecting them from the tenants post-close.