All Forum Posts by: Darci Minshall

@Phuong Le

Yes they do. 80%LTV. 10 year balloon amortized over 20 years. They are very investor friendly.

@Carl Mccrory

Sun Federal Credit Union near me has no seasoning period. I can refi as soon as I am ready. It took over a dozen calls to small local banks to find them. There are small portfolio lenders who can make their own rules but they wont be easy to find!

@Tom S. I didnt know that! Thanks for the heads up- I appreciate it!

@Mian Rizwan I had received similar offers also from BHG. What I really liked was that it's a commercial loan and will not appear on your credit report unless you default. The appeal there being it wouldn't interfere with getting bank financing for buy and hold. I spoke to several reps but ultimately decided to hold off. My plan would have been to reserve enough of the loan money to make a year's worth of payments and use the rest to invest in distressed properties. I plan to look into this again soon but initially got spooked because it seemed too easy. I felt like they wanted to throw a crazy amount of money at me just because I was a pharmacist with great credit. They didn't seem to care what I planned to use it for. I'd be eager to hear if you use them. The reviews online were pretty mixed.

Thank you all for the advice; I do appreciate it! I will be staying with the same agent.

@Natalie Schanne I appreciate your response! It makes me feel better about sticking with my original realtor. Thanks!

My conscience and pocket are not agreeing right now. I'd like to get some input from the BP community. I am going to be wrapping up a flip in a few weeks. The Realtor who worked with me to buy it was amazing in every aspect. He helped me place offers on 2 other properties that didnt pan out before this one. I bought it for $62k so his commission was not impressive. Now that it's fixed up and worth around $150k, I'm struggling with the decision to use him to sell it. My hang up is that he's not local. He works all over but is based out of a town 45 minutes away. I think I would be better served by a local agent to sell it who has local buyers. Especially given the time of year and cool down of the market going into the holidays. I feel guilty though being as he worked so hard and was always a pleasure to work with and for such a small commission. SO... I DO plan to buy my next property with him. Do I explain my reason to him for going with a local agent to sell? Do I just list it with him to avoid possibly ruining the working relationship? I'd like to hear from some agents if possible- would you be offended in this situation? thanks in advance!

I have debated a similar situation myself. When it came down to it, I am opting to hold the property knowing that at any point down the road I can sell it and use the proceeds to further my investments. I knew that I would personally regret letting go of a property that would have solid cash flow. My strategy is going to be to build a rental portfolio first and then entertain flips when the numbers are right for it. My two cents (for what its worth) are build the portfolio first. Best of luck on whichever route you go!

Congratulations, what an amazing success!! I love hearing stories like this; it keeps me motivated!

Hello all! I have been a member for over a month now, but I haven't taken the time to really introduce myself. I now have a video up on my profile but here's a brief intro to myself!

I am a new investor working on my first deal in Fleetwood, PA. I plan to BRRRR my way into a rental portfolio that can replace my Pharmacist salary. I have two young children which are my biggest motivation for getting into real estate investing. I plan on buying in the Berks County area and would love to chat with other investors in the area