All Forum Posts by: Rob Beeman

Uwe - to answer your question of where:
I have real estate investor contacts that purchase/refi NOO 1-4 units titled in LLC's in PA, NJ, CA, MS.

Some use hard money to purchase/rehab and then need an outlet to refi for lowering holding costs.

Others don't want to use hard money and seek a source for purchase/rehab (non-hard money)

You could possibly finance all of the investment properties that you currently own in a blanket commercial mortgage, if either they are titled in an entity (LLC, Corp), or can be retitled, if there are enough to make it worth while for the financing source. This would free up money to do more deals. Additionally, you could use a blanket mortgage to buy several more.

Rob Beeman
Commercial Lending Specialist

Who does NON-HARD MONEY financing for non-owner 1-4 unit residential properties TITLED IN AN LLC either purchase or refi with a 660+ score? With and without rehab financing.

JCC, thanks for the tip. I just tried googlemaps and it is pretty cool! It shows the proximity to the property in comparison with the comps, and details/pictures on the comps. Thanks!

All of what Jon said is great info. The only thing that I would add is to make sure that the borrower (buyer) gains insurance on the property in case of fire/vandalism showing you as the lender/lein holder. Might also want to cosider a Assignment of Rents agreement signed by the borrower at settlement. That would cover your interest in case the borrower collects rental payments from the property but does not pay the mortgage.

Thanks for all of the input. I'll check out the sites that were recommended.

Are ther any web sites that allow a person to search for rental comps, nationally?

Welcome Angela! Hope you find the site helpful. As for advise - move slowly, and do your homework. The sluggish market allows investors the time to evaluate the deal prior to committing. Good luck.
Rob

Yea, I agree, I prefer the personalized pictures vs the generic avatar. My picture of choice is a Westin Resort in Mexico that my wife and I stayed at years ago. WOW, what a great place! It had infinty pools that looked like they flowed right into the sea. We enjoyed it so much, we bought a time share so we could enjoy it more. I would highly recommed it, the resort, not the timeshare purchase (timeshares are the kiss of death). When I get stressed, I look at the pictures from the resort and the stress fades away.

Thanks!