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All Forum Posts by: Garrett M.

Garrett M. has started 24 posts and replied 174 times.

Post: How do you know if/when you should refi

Garrett M.
Posted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 180
  • Votes 66
Hi Amy Ranae ! On my first BRRRR, I refinanced out of the deal to recoup the purchase and rehab capital. But the closing costs and commercial broker fees were expensive, over 5k. After a lot of searching and asking around on BP I just found a lender that will do Helocs on investment properties owned in an LLC. Look into Penn Fed Credit Union. (No affiliation) Haven't used them yet but figure the closing costs will be a fraction of the refi. Best of luck!

Post: Structure of General Contractor (GC) Incentives

Garrett M.
Posted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 180
  • Votes 66
Great question. I will be following!

Post: Commercial Financing in Philly

Garrett M.
Posted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 180
  • Votes 66
Hi Denise Cook - I had good luck with First Choice Bank on a refi purchased through my LLC. Ask for Kevin P in the Horsham branch. I haven't tried a straight purchase loan with them yet. Best of luck.

Post: Philadelphia cash buyer looking for single family deal-wholesale

Garrett M.
Posted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 180
  • Votes 66

Hello. If anyone out there has a deal of a single family in Philly please get in touch with me. Looking to make next purchase. Quick cash closing. 

I may be open to partnering with you or doing a jv if you have an interesting project that you don't have sufficient funds for. 

Thanks and good looking out! 

Post: What exactly is cash only

Garrett M.
Posted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 180
  • Votes 66

Hi @Joe Villeneuve,

O.K. I'll bite... When you mention the first Module...

"Module #1: Establish an investment, where the income from it pays for 3 things. First, is the annual carrying cost of the NLD. Second, is the end payoff of the NLD (if there is a balloon involved). Third, is the carrying cost and payoff of any loans needed (if any) for the investment."

Can you clarify what a non- lienable debt is please? Very curious. Thanks

Post: Philadelphia, PA Investor friendly banks/unions

Garrett M.
Posted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 180
  • Votes 66

@Joshua T.

I have heard good things about Valley Green bank being investor friendly. Also local banks that are credit unions or portfolio lenders.

Post: First Flip- What a success! Before and After Pictures

Garrett M.
Posted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 180
  • Votes 66
Congratulations!!! You really turned it around with out over capitalizing. Looks great!

Post: Has anyone ever gotten a foreclosure list from a bank how do you?

Garrett M.
Posted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 180
  • Votes 66
Hi gents! John Anderson how are these foreclosure lists beneficial to the investor? Won't the bank simply sell these listings as REO sales in their time? Does getting the list allow you to scoop these before they are public?

Post: Partnership Horror Stories

Garrett M.
Posted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 180
  • Votes 66
Thanks for the inspiration Ryland Taniguchi ! Words of wisdom!

Post: Congratulations to BiggerPockets on 600,000 Members!!!

Garrett M.
Posted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 180
  • Votes 66
I'm your biggest fan! I must have recommended this awesome resource to at least 100,000 of those new members! Congrats!!