All Forum Posts by: David Britt

 Yes, it would, you're exactly right.  That's how we ended up with Lima One in this case.  Every lender has requirements and rules by which you must play.  This year, Lima One worked best.  Next year?  Watch this space.

I worked with them and their Rental 30 loan over the summer of 2022.  Took 3 deals to close with them, but none of it was their fault.  Deal one, backed out after the inspection.  Deal two, title found some funny business and I backed out. Deal three, no problem.  You don't lock in a rate, so rates will fluctuate while you're under contract.  If you know that going in, it won't be a surprise.  My rate actually dropped right before closing.  Banks present particular hurdles.  Lima one, for the most part, bypasses bank hurdles, but does present unique hurdles of their own.  Pick your poison, so to speak.  I like Lima One and will use them again.  They were on top of things, very helpful and very responsive to my questions.

Can anything be done/changed after the purchase to allow for two leases?  

 Thanks for that.  Something to investigate!

 A national hard money lender.  It is a 30 year fixed.  Would you, (or they), have any way of finding out to whom I rent or how?  Can they see the leases?

Two structures on one lot.  Structure one is a typical 2 story house.  Structure two is a 2 story building with an apartment above a garage.  The obvious plan is to rent to two separate parties on two separate leases, but the lender is telling me all renters for this property must be under one lease.  Why does the lender insist on one lease and how can i get around it?

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 How did the pay out go?

Considering Lending Club Bank's Tailored Business Checking.   Online reviews from actual users are hard to find.  Would love to hear your thoughts if you have first, second, or even third hand experiences to share. 

 Anyone have the good, bad and ugly on investment one llc?