All Forum Posts by: Dustan Marshall

Great topic! I have been thinking through the same thing. I have done a few houses already. But am finding that even portfolio lenders are moving away from the smaller loans. I looked into signiture loans at around 6% to 7% but they will only do 10k for personal loans as I am not an LLC. I am have to transition to more creative funding (private and hard money loans)

*are or are not?   If they are not you should be able to select new investments within the 403 to improve your returns.  If they are making good returns then just see what potential deals in your area would be giving as a return for your niche/ market and compare the two.  It is always hard for me due to factoring in my time (managing property vs managing stock). When comparing returns based on a %

I agree with above posters.  What are your goals?  If you have enough to be financially independent, I would focus on saving up for only home run deals moving forward.  You can afford to be patient and more picky.  Plus with the purchase of those 30+ deals you have experience to know what home run deals look like.  

in my experience it has been the local smaller banks/credit unions that will be more open to listening to you.  the national banks have more rigid requirements that will not conform to RE in most cases from the investor stand point.  that is why Private loans are so popular.  even local lenders are sometime looking for some sort of a track record and a very good deal with plenty of equity if there is no pre-existing relationship.   If you are just looking to develop the relationship then i would suggest talking with other local RE investor in your area and see what local lenders they use.  specifically what loan officer... if the person will allow you to name drop them, then when you speak with the lender reference them.  then the lender has a better idea of what path you may follow.   a great loan officer can be your ally for putting together a good package to present to under writing and to the bank itself.   

there are a few great threads on BP about hardening rentals that touch on this

good topic. I have two units now. And found Dave Ramsey. I ance been really conflicted between continuing the BRRRR method for more units or debt snow ball to pay off current loans then save for next purchase. This question had me a bit paralyzed at the moment. Not knowing which way I want to go. But the market is rising (almost to fast). So I have taken this time to try and figure out my next move and to see what the market is doing. Certainly safer to go with Ramsey strategy. But the allure of more units is always a strong pull

i guess it is confusing to me because i am assuming you own the LLC and LLC's are pass through income. so by "selling" the property to the LLC you have really only transferred the title. So are you trying to somehow profit from the sale? or just get the title to the LLC name? if all your trying to do is to get title to LLC then it might work but you would have to have a lender that will loan to your LLC.

great post. I think this would be interesting to tie in with others on the CAP EX debate. i have read on here, forget what the title of the post was but it referenced multi- family cap ex over the life of the property to be roughly $250/mo per unit. I would assume single family is not far off of that. I wonder how Mobile homes factor into the equation.

at our local REIA we had a "fair housing" presentation that said that if they claim it is a service dog, it is federal law that would supersede your requirements as well as any local ordinances outlawing the breed.

I am still a bit lost on this.  Would I need a down payment on the 70% loan or could I call the seller a "partner" and not have to do a down payment?  

Or is this type of deal just not doable and its 100% seller finance or all convential finance... No hybrid?