All Forum Posts by: Issa Rice

Hello I have a question, when going through a bank for funding is it best to write up a business plan or treat it like a mortgage? I know that the mortgage goes under your name and social. I would like to know which way looks better to the banks. Thank you

Thank you for the feedback. I was wondering because I don't have the experience yet and was wondering how I was going to get it if I couldn't get a loan from the bank.

I was reading an article that banks look for at least 2 years experience from an investor. I wanted to know how true that is and how do new investors over come that hurdle. Besides the 20 or 25% down payment, what else do banks look for? Does it make more sense for a new investor to go through private funding over a bank?

Hello as a new investor, I find that I don't ask as many questions as I should, in fear of looking stupid. But ignorance is a luxury that I can not afford, so here is my question. When dealing with a private lender, how much of your own money is needed? As a new investor, I want to know where I should be financially before seeking funding. Or am I going about it the wrong way. I know most banks want you to have at least 20% down, but does that apply with private lenders? And how concern should us new investors be with the interest rates? All feedback is welcome and appreciated. Thank you

I don't have plans on giving up on LoopNet,  I wanted a better understanding to the label that it has. I have reached out to some of the brokers and a few have sent me listing that are not on LoopNet.

As I newbie, I often spend a good amount of time looking for real estate information and deals on multi-family. I have been to forums in person and on line, and they all say the same thing about LoopNet, which is "good deals go there to die." Now I have grown fond of LoopNet and I think they have good deals on  multi -unit investments. What I have notice is that some properties linger longer than others, but isn't that the case with any type of properties. I have also looked on Redfin, and Property shark. but I always go back to LoopNet. I live in Brooklyn, NY and property here is far from reasonable. I just want a better understanding as to why LoopNet has this title. As a beginner, with little capital, LoopNet has the most amount of deals within my reach. Looking for insight. Thank you 

Ben Leybovich I am going to go back to your site and do it again because I don't see an email from you.

AAAHHH there is so much I don't know. I just signed up on your website Ben Leybovich. Knowledge is key. I love this site, BiggerPockets. I've learn so much and still learning.

Thank you Ben Leybovich, My main focus is apartment buildings, but I do see myself buying some house as buy&hold. As a newbie this information is valuable to me, so I thank you for sharing.