All Forum Posts by: Chris Davis

Hello fellow BP's. I need some advice, looking to purchase 2 single family properties with real good cash flow. Owner is good friend, and giving me a great deal on both properties. My goal is to purchase then turn around and get cash out refi on both houses. My question is there a good strategy I could utilize where I create land trust with the current owner is trustee and my LLc is beneficiary, then once created go to my local credit union and refinancing both properties soly in my LLC name? Any insight is greatly appreciated!!

Thanks appreciate everyone's input. I have a local credit union that will lend on small loans under my LLC. Primary question, is there a seasoning issue on title? I believe since its a credit union the loan will be based on appraised value?

Hello fellow BP's. I have a question, I am seeking to purchase 2 single family houses. The first property is valued at 45K and currently rents for $600 per month. The second property is valued at 35K and currently rents for $500 per month. I have two questions, first I can purchase these properties at a good discount 25K for both houses. Second, I would like to buy under my LLC (commercial loan), then cash out refi (within 1 month) based on the appraised value not the purchase price. Is this a possible scenario using my local credit union. Insight greatly appreciated!!

Thanks in advance.

Hello fellow BP's. I have a question, I am seeking to purchase 2 single family houses. The first property is valued at 45K and currently rents for $600 per month. The second property is valued at 35K and currently rents for $500 per month. I have two questions, first I can purchase these properties at a good discount 25K for both houses. Second, I would like to buy under my LLC (commercial loan), then cash out refi (within 1 month) based on the appraised value not the purchase price. Is these a possible scenario using my local credit union. Insight greatly appreciated!!

Thanks in advance.

Hello fellow BP's. I have a question, I am seeking to purchase 2 single family houses. The first property is valued at 45K and currently rents for $600 per month. The second property is valued at 35K and currently rents for $500 per month. I have two questions, first I can purchase these properties at a good discount 25K for both houses. Second, I would like to buy under my LLC (commercial loan), then cash out refi (within 1 month) based on the appraised value not the purchase price. Is that a possible scenario using my local credit union. Insight greatly appreciated!!

Thanks in advance.

I am seeking an experience mortgage broker that can originate alternative doc loans for cash out refi deals! Quick scenario, I have full time job that I can provide W2's not a problem. However, my second source of income is 1099 independent contractor, and I write off a lot of my expenses (so tax returns would not work). I need a lender that would allow bank statements as proof of income for my secondary income source. Please inbox me contact info and some matrix highlights of your product (i.e. highest LTV on cash out refi NOO ,seasoning requirements, min. loan amount, starting interest rate, typical closing cost fees, etc.)

Hello fellow BP's just wanted to ask for some advice. I am seeking to connect with knowledgeable mortgage broker that originates loans in OH. Specifically, conforming and non- conforming loan products that offer alternative income doc matrix for loan products. Inbox me for details on my specific real estate goals. Thanks in advance! 

Hey @Justin P. thanks for the valuable insight last week! Working on a key element to make my deals a win to all stakeholders involved! I will stay in touch as progress is observed. 

Thanks again 

Hello BP's I am seeking to establish a financial partner for short term real estate deals in OH. I have a potential deal, its a duplex gross income of 1K per month. Asking price 45K . I need private money financing (not hard money) for 90 days that will be structured in land trust under my LLC with me and financial partner as beneficiary of the land trust. Indeed, rate of return is negotiable.

Thank you everyone for your great insight on the scenario I had a question I noticed many people mention seller financing. My question I remember in the past seller carry backs were an option is there any lenders that would finance 90 LTV and alow 10% seller carry back?