All Forum Posts by: Ian Walsh

HELOC would be tough without being bankable. A local private lender that is asset driven is likely your best shot.

Good local lenders can pin numbers the same day based on address, purchase and renovation costs.

Most lenders won't do that unless you have free and clear cross collateral involved.  If they say they do, they usually don't close or won't be around long.  It's a recipe for lending disaster.

I am one.  My partner Ryan handles Jersey City. Feel free to DM me.

The 50 house rule would save a lot of investors a lot of money.

Your biggest advantage is your age .  Learn your market and learn to market.  Those 2 skills will be the most important in whichever direction you go with it.

It depends on your level of experience and confidence in execution but usually relationships like this start with skin in the game from both parties to be fair to both sides.  One side usually just brings more than the other and the rolls in the partnership are clearly defined.  This is what I have seen work in the past.

2nd position lending and unsecured lending are way different and riskier than 1st position lending.  Any form of lending can make money but the risk model has to be really really conservative with unsecured and 2nd positions.  

I am always an advocate to be driving distance to a rental property to keep several risk factors lower. Philadelphia has some intense regulation though now so maybe the suburbs?  

Proper landlording in Phila is pretty intense.