All Forum Posts by: David Grabiner

Most of my tenants come from either zillow (or the websites zillow posts to) or networking and talking to people. It is amazing how many people are looking or know people looking for a place to live. So I tell everyone what I do and ask them if they know anyone who is looking for a place to live or looking to sell a property. 

@Robert Smith Hi, great to see you on here so fast. In your situation you probably can easily get a traditional mortgage from any bank around. It will have a 30 amortization and around 5% interest rate but they will require a 25% down payment. I suggest that you keep learning, keep asking questions, talk to lenders, look at properties (gcar.net/home will give you all the homes that are listed on the MLS in the area), analyze the properties, and all the while keep saving up more money for a down payment.

Let me know when you would be in Chattanooga I would be happy to meet up and talk. I am a local investor and I also manage around 150 units in the area. 

I'm not sure why all these posts keep getting removed but if anyone is looking for a good wholesaler in Chattanooga I would look up @William Allen 

I would also recommend @Jimmy Moncrief he is a great local lender. 

I would say Nashville has more to do in the city.  Chattanooga has a limited city life but amazing outdoor activities. It does seem that many people from Nashville are investing in Chattanooga so it is probably the better area to invest. 

I have a direct connection to a private lender if you are interested. 

Well that is good to know that it may be available in the future. I just got a unsecured line of credit and opened a deposit account with a local lender, so hopefully in the future I will be able to leverage that relationship in to higher LTV lending.

@Benjamin Riehle Are banks now doing conventional refinances at 80% LTV? I thought the limit was 75% LTV? If so I would be interested in getting the info of the bank. I currently have a BRRR project going on as well. Purchased at the end of april for 111K, rehab and finance cost 17K, it rented without marketing before we even finished the rehab for 1450 per month. Expected ARV to be at least 175K. All the banks I contacted said 75% LTV.

My father and I are 50/50 partners in all our properties, although it wasn't because of the high cost of properties.  It was because I was investing from the Democratic Republic of Congo. It has gone great so far, so we plan on investing together for another 3 years then decide if we want to part ways at that time. 

@Alexander Forrester I'm curious how this deal worked out? What did your investors end up accepting to do the deal?