All Forum Posts by: Greg Bruns

 Thanks Aaron! Always good to know local guys.

Hi Justin. I'll send you a message.

We're looking all over. I currently live in Westbury and my Partner is in Dallas but we're both from The Woodlands Originally. So we're comfortable with North Houston. To be honest, I like West, East, and North Houston a lot.

I have a personal loan with Sofi. They are pretty big on credit score and they have to verify your income. So if you don't have over a 720 credit score and aren't making at least $75k in verifiable income, you aren't getting approved. That profile is fairly low risk.

Also. The rates are closer to 11-12%. not 8%.

Tom, Thank you for the reply. Makes total sense... I was leaning the investor route anyway, but good info. What are the 3 F's of startup capital? Friends, Family, Fools. We will figure it out. 

Hello all. New guy here, posting from Houston, TX. Looking to get into the investing and commercial development arena. I'm a former large cap commercial banker who now works in financial consulting. My business partner is a commercial construction superintendent. We're excited to get started and buy our first property, I've already posted a question in the "creative" financing forum. Our end game is to both do this full time. Looking forward to exploring more!

Hello All,

First time posting to the board. My business partner and I are looking to do our first investment deal. I'm a former commercial lender and he is a construction superintendent. We have our eyes set on a vacant office building that has had some flood damage. Our goal is to purchase, renovate, and then lease out. From there we would decide if we'd like to flip it or keep on collecting rent and cash flow it.

The owner is willing to do owner financing (20% down payment, 5% rate, 20 year term). He is also waiving payments for the first 12 months which would help us during the renovation stage. My question is this- Can we use a hard money lender for the 20% down payment and construction/ renovation costs? Or would we be better off going the private investor route. I could probably find 15-20 people who would be willing to invest $20K each. But that would take some time.

Are we crazy? It's a 20k sqft office space that we could likely rent out at $2/ft.