All Forum Posts by: Jeff A.

Looking to buy a commercial multifamily property in RI.

800 credit score, already own a multifamily, cash banked.

what banks, rates, parameters etc

Thank you!

 Ok, and they should cover all the bases?

Thanks

Ok

Hey everyone, Im in need of some help...

An acquaintance told me hes selling a property thats been in foreclosure - initially with a Bargain and Sales deed but now with a Quit Claim.  He said it has a clear title...

Its a great deal but Im out of my element and weary about proceeding.

Is it safe to purchase with a Quit Claim?

Is there a safe way to proceed while protecting myself?

Im lost, please guide me!

Ive been investing in real estate for the last 6 years and have encountered something entirely new.

A Bargain & Sale deed

Anyone have any experience with these or can enlighten me?

The Story:

I got tipped off on a local property that was in foreclosure and selling for an irresistible price off market... 

Ive just been told that it will be a cash only quit claim bargain & sale transaction. I informed my lawyer and he said he doesnt want to be involved as bargain sales dont really protect the buyer.

What are the pros and cons? Will I be vulnerable? 

Awesome information, Stephanie and thank you!

So regarding a portfolio lender... Do I just ask banks of they have portfolio loans for my situation or look for a spwcific portfolio lender?

Confused on how to approach that

There is a seasoning period for commercial cash out refi?

Thanks :)

What are the parameters of a cash out refi in my situation?

How soon can cash out and is the percentage based on purchase price or ARV?!

The cash will flow fine, my credit is 780, and I have no debt.

Thank you, Kevin!!

that's the information I'm in need of!

I'll message you

thank you!!

What options?!

I'm more so concerned with how I can cash my money out

Hey guys

I just bought a mixed use multifamily with cash. Two 2 bedroom units and one storefront.

I was looking to add an additional unit as well as other upgrades.

Ideally, I'd like to cash out most of my money after the upgrades and new appraisal.

What are my options!?!!

Thanks :)