All Forum Posts by: Jason Martins

David, I have a commercial property in Johnston, just outside of Providence, that may be a good fit for you. There are 2 residential units in it that are occupied and whose rental income more than covers your PITI. This way you'll essentially have your work space for free. Please contact me if you'd like more info and I can provide you with the details to the upgrades I have already made, and am continuing to make, to the property. Thanks!

Hi Raymond! I'm from Pawtucket as well. Welcome aboard! There are certainly plenty of investors in the area. You'll find some here on Bigger Pockets but I recommend also attending the RIREIG Meetings. It's a great way to network with local investors. All the best!

Dan,

I know someone who has 4-unit he's selling in Central Falls if that city interests you. Otherwise, I agree with previous comments that you'll have to network and search regularly to find a deal like that but they are out there. All the best!

Awesome! Best of luck with it! Keep me on your contact list if you have anything you'd like to wholesale.

Hi Wayne! I'm an investor in Rhode Island as well. I'm looking for properties in Lincoln and Pawtucket. Is 82 Bacon St one of your properties under contract?

I'm currently in a buy & hold with a 2 year balloon with this PL.

I completely agree that a PL that will do a 100% loan is someone that you know very well and trusts you, which is the case in my situation. I always thought it was strange that he never asked for a down payment but I certainly never complained. Trust and a certain comfort level with someone plays a big part in the down payment. Someone you don't know as well would probably ask for something down at first. 

It's interesting to hear other investors experiences when it comes to their relationships with PL's.

We all know that most Hard Money lenders will require 10-30% down payment on a deal just so you have some "skin in the game". But do find that private lenders are different?

I have used a private lender that has not required any down payment so I have gotten 100% loans for deals. I know not all private lenders are that generous. I'm wondering if anyone else has had the same good luck with private lenders and if not, how much "skin in the game" have your private lenders asked you to put in on a deal? 

Thanks!

Thanks Tony! I currently have a commercial property in Conway but have considered others in Charleston. I will be looking to add residential properties in SC sometime in 2017. Let me know if you come across anything interesting.

My name is Jason Martins and I am a property Manager in Rhode Island. I have earned, and proudly carry the CPM and ARM designations through IREM. I own 3 small rentals in Rhode Island and am a partner in a retail plaza in South Carolina. I have also flipped a single family home and wholesaled a single family home. After 10+ years of managing property I want to grow the flipping and wholesaling part of my business to help in acquiring larger, long term hold rental properties. I'm happy to have found this site and hope to give back to new members some day.