All Forum Posts by: Dustin Faeth

Unemployment has been steadily on the rise for the past several months and just hit 4.3% recently which is the highest it's been in a couple years. Most of the "new jobs" being reported are government jobs which skews the numbers even more, and most of the other jobs added are part time jobs people are being forced to take just to pay the bills so we are not in a good place at all economically in this country. Consumer credit card debt is at an all time high and families are struggling to stay afloat. Harris is going to continue us down this terrible path if she gets elected and it's not going to be good. 

It's not a good thing....the last thing we need is more government spending and handouts which is going to increase inflation. Terrible policies like this and government overspending is what put us in the bad position we're in right now as a country 

She's just trying to buy votes and none of this would come to fruition if she got elected. What has the current administration done over the past 4 years to improve things in this country? Absolutely nothing.....so why would it suddenly change if she got elected. It won't....it's all just BS to try to gain votes 

Thanks @Dominic Pizzi....sending you a message now

Hey All!

One of my main private lenders who has been funding deals for me over the past 10+ years doing short term loans on flips and investment properties, recently came to me and asked if I had any longer term lending opportunities where he could park his cash in 1st lien position at a reasonable interest rate, after he pulled his money out of the stock market and some other investments lately.

I have used the BRRRR strategy for years now, and as most of you using this strategy have probably realized in recent months, the refi numbers aren't as pretty as they used to be now that the Fed has increased rates so much in a short period of time, and DSCR lenders and traditional banks have tightened up their lending terms and criteria as well.

I have always paid my private lender 12% interest on all the short term loans he's done for me over the years, but we recently agreed on some terms for a longer term mortgage/note for rental properties that I am needing to refinance (instead of me going to a DSCR lender or traditional bank to refi). The terms we landed on were 75% LTV, 7% interest rate, 30yr amortization, making monthly P&I payments to him, with a 5yr balloon payment due. That got me thinking that their may be an appetite from other private lenders out there who might be interested in working with me in a similar capacity.

I have several other rental properties that I have recently fully rehabbed and signed a tenant lease with, that I now need to refinance, so please send me a private message if you might be interested in being a private lender to refinance me out of my current high interest short term loan, into a longer term note with similar terms as I outlined above, and I would be happy to discuss.

Thanks!

Dustin

Hey All!

One of my main private lenders who has been funding deals for me over the past 10+ years doing short term loans on flips and investment properties, recently came to me and asked if I had any longer term lending opportunities where he could park his cash in 1st lien position at a reasonable interest rate, after he pulled his money out of the stock market and some other investments lately.

I have used the BRRRR strategy for years now, and as most of you using this strategy have probably realized in recent months, the refi numbers aren't as pretty as they used to be now that the Fed has increased rates so much in a short period of time, and DSCR lenders and traditional banks have tightened up their lending terms and criteria as well.

I have always paid my private lender 12% interest on all the short term loans he's done for me over the years, but we recently agreed on some terms for a longer term mortgage/note for rental properties that I am needing to refinance (instead of me going to a DSCR lender or traditional bank to refi). The terms we landed on were 75% LTV, 7% interest rate, 30yr amortization, making monthly P&I payments to him, with a 5yr balloon payment due. That got me thinking that their may be an appetite from other private lenders out there who might be interested in working with me in a similar capacity.

I have several other rental properties that I have recently fully rehabbed and signed a tenant lease with, that I now need to refinance, so please send me a private message if you might be interested in being a private lender to refinance me out of my current high interest short term loan, into a longer term note with similar terms as I outlined above, and I would be happy to discuss.

Thanks!

Dustin

Hey All,

I am looking for recommendations on any learning materials to help become a well rounded "expert" in creative financing strategies and deal structuring. Whether that be any certain podcasts, books, articles or posts here on BP, etc. 

Looking to learn more and sharpen my knowledge in the creative financing strategies and deal structuring side of things, so any input is appreciated!

Thanks 

Hey All,

I am looking to purchase some properties in the Sarasota, FL area and I'm hoping to connect with any investors and wholesalers who are doing deals in this area. 

I'm an experienced investor and a cash buyer so please feel free to reply to this post or send me a private message. Thanks!

Dustin 

Great input!! Thanks Buddy 

I have a deal I am trying to put together to purchase a property but me and the seller are about $30k off on price. The reason the seller is asking for more is because he knows he is going to get hit with capital gains when he sells it so he is trying to compensate by asking for a higher purchase price.  

He does own the property free and clear just FYI, but I wanted to put this out to the group to see if anyone has run into a situation like this before, and if anyone has any suggestions on a way to structure the deal in a way that could reduce the seller's taxable gains so we can put an agreement together. Any suggestions are appreciated!