All Forum Posts by: Devin Peterson

Hi all, I'm a newer investor. I haven't found many properties that match my criteria, and I am looking into private lending as I have some capital. I'm trying to educate myself in the best way possible to learn more to see if this is a potential avenue for me. I would love to draw on the experience and expertise of other private lenders, know what to look out for, where to start (thinking smaller loans), and be savvy about this fluctuating market and the potential for refinance not to go the way some investors anticipate. I'd appreciate any info you have. I would love to start this conversation. I'm all ears!

I have a quad-plex under contract that is stabilized. I have 20% down payment ready but I do not have any more conventional loans left. I am looking for a DSCR option or possibly a bridge loan. I have great credit and income. Any suggestions or referrals would be great.

Thanks!! 

Hello everyone!

I'm currently doing research for local lenders in the Akron, Ohio area. Does anyone have any recommendations? This would be for an investment property. Thank you for your help!

-Ana 

Let me start out by saying, when I say out of state I mean within a 4 hour drive of where I currently am (ma) not across the country.

I’ve been following and reading a bit for the last few months and finally decided to make an account as I’m getting more serious about the idea of buying my first property. 
I’ve found some properties in neighboring states (with a management co) that aren’t in the greatest areas, but the numbers look good. Is this a bad way to start out? I can try to find something nicer and closer to me, but my thought is I can spend more money and a higher down payment and not as much cash flow vs buying 1/2 properties and spend less money down and have more cash flow. Does this ever make sense and work out? 
Think would go with a conventional loan vs a dscr loan. 

Hey everyone how do I roughly calculate my properties value before I go the bank inquiring about a DSCR cash out ReFi? I know the bank advertises 75% LTV but is it just a comp valuation? How do I factor in the cashflow income the property produces? Thanks

A partner and I would like to purchase a residential multi-family property this year. Most likely this would be a duplex or triplex. In the areas that we are looking at, the property purchase price would be under 200K. We plan to form an LLC where we have a 50/50 split of the entity. I did not realize that if you wish to purchase a property using an LLC, that you would have to get commercial financing. I'm finding that most commercial lenders are only offering 10-year terms. I think I have the basic understanding that if we were to purchase in our own names, we could get a conventional 30-year. If we were to make the purchase using an LLC, then we would have to find a commercial lender. I like the idea of purchasing through an LLC for the added protection, but it seems like the financials don't make sense on a commercial loan. Are there commercial lenders out there with better terms and rates? I'd love to find a commercial lender with a 30-year term, but it seems like that is hard to find. I keep circling back to the idea that the only option that would work financially is a conventional loan, but I don't like the idea that I would have no protection. What are my options to make this work and pursue a property?

I have two properties, 5 apartments in Covina Ca and 8 in upland Ca, that I have free and clear that I would like to pull money out and purchase additional apartments. looking for a few mortgage brokers to give me some idea of how much money I call pull out and terms of loans.