All Forum Posts by: Jesse Hoffman

I am 27 years old and have been investing in real estate since I was 21.  I have worked 100 hours a week for a long time.  At this point I own 44 rental properties in Maryland and one beachfront condo in the Outer Banks NC. Most of these properties are condos ranging in price from $60,000 to $100,000 and each has a monthly condo fee between $190 and $230 per month. They are all currently rented for between $1000 a month and $1300 a month. I have been in business for 5 years and have strong relationships with local banks in but Im looking to find a bank or private lender (maybe wealthy person) who doesn't require 20 to 25 percent down. The rents are so high compared to the mortgages I have been able to pay off several places in full as I do not spend any of the extra rent money each month I just use it to pay down more principle. My goal is to get a base of 10 to 15 places paid off completely and expand a great deal always keeping these places paid off in full to cover the monthly cost of the new places. The new places would also of course be rented out as well.

I also own a real estate sales team in which I'm earning between $400k and I expect to make around $800k or more this year. I could use this money to pay off 10 properties and have an income guaranteed in rent of over 100k a year. Basically these condos are almost 0 risk to a bank or lender in my situation. I sit on the board for the associations as well. My ultimate goal is to knock on doors and buy the entire communities.

Let me know if you know a bank or person who would finance these deals for me on 7 to 10 year loans. My goal isn't to really

Leverage a lot but to just be able to buy these places and pay them off quickly. The first year or mortgage payments to the lender would pay down the property more then 20 percent easily.  I also like individual loans per property so that I can space them out so my balloon payments can't come all at once etc.  I do not want what happened in 2008 to happen again and have the banks call all my loans and force me to fire sell.

If anyone knows a bank offering 10 percent down on investment properties that would be great!!! Any help appreciated 

I'm 27 years old, I graduated from Salisbury University in 2011. I've worked really hard and saved and At this point I own 44 rental properties in Maryland and one beachfront condo in the Outer Banks NC. Most of these properties are condos in Maryland ranging in price from $60,000 to $100,000 and each has a monthly condo fee between $190 and $230 per month. They are all currently rented for between $1000 a month and $1300 a month. I have been in business for 5 years and have strong relationships with local banks in Frederick but Im looking to find a bank or private lender (maybe welsrht person) who doesn't require 20 to 25 percent down. The rents are so high compared to the mortgages I have been able to pay off several places in full as I do not spend any of the extra rent money each month I just use it to pay down more principle. My goal is to get a base of 10 to 15 places paid off completely and expand a great deal always keeping these places paid off in full to cover the monthly cost of the new places. The new places would also of course be rented out as well.

I also own a real estate sales team in which I'm earning between $400k and I expect to make around $800k or more this year. I could use this money to pay off 10 properties and have an income guaranteed in rent of over 100k a year. Basically these condos are almost 0 risk to a bank or lender in my situation. I sit on the board for the associations as well. My ultimate goal is to knock on doors and buy the entire communities.

Let me know if you know a bank or person who would finance these deals for me on 7 to 10 year loans, with 10 percent of less down and no balloon payment. My goal isn't to really
Leverage a lot but to just be able to buy these places and pay them off quickly. The first year or mortgage payments to the lender would pay down the property more then 20 percent easy.

At this point I own 44 rental properties in Maryland and one beachfront condo in the Outer Banks NC. Most of these properties are condos in Maryland ranging in price from $60,000 to $100,000 and each has a monthly condo fee between $190 and $230 per month. They are all currently rented for between $1000 a month and $1300 a month. I have been in business for 5 years and have strong relationships with local banks in Frederick but Im looking to find a bank or private lender (maybe welsrht person) who doesn't require 20 to 25 percent down. The rents are so high compared to the mortgages I have been able to pay off several places in full as I do not spend any of the extra rent money each month I just use it to pay down more principle. My goal is to get a base of 10 to 15 places paid off completely and expand a great deal always keeping these places paid off in full to cover the monthly cost of the new places. The new places would also of course be rented out as well. 

I also own a real estate sales team in which I'm earning between $400k and I expect to make around $800k or more this year. I could use this money to pay off 10 properties and have an income guaranteed in rent of over 100k a year. Basically these condos are almost 0 risk to a bank or lender in my situation. I sit on the board for the associations as well. My ultimate goal is to knock on doors and buy the entire communities.

Let me know if you know a bank or person who would finance these deals for me on 7 to 10 year loans, with 10 percent of less down and no balloon payment.  My goal isn't to really
Leverage a lot but to just be able to buy these places and pay them off quickly. The first year or mortgage payments to the lender would pay down the property more then 20 percent easy.

How?

Here is my background. I own 44 rental properties in Maryland and one beachfront condo in the Outer Banks NC. Most of these properties are condos ranging in price from $60,000 to $100,000 and each has a monthly condo fee between $190 and $230 per month. They are all currently rented for between $1000 a month and $1300 a month. I have been in business for 5 years and have strong relationships with local banks but Im looking to find a bank who doesn't require 20 to 25 percent down. The rents are so high compared to the mortgages I have been able to pay off several places in full as I do not spend any of the extra rent money. My goal is to get a base of 10 to 15 places paid off completely and expand a great deal always keeping these places paid off in full to cover the monthly cost of the new places. The new places would also of course be rented out as well.

I also own a real estate sales team in which I'm earning between $400k and I expect to make around $800k or more this year.

I am looking for a bank who will finance these properties moving forward and 10 to 15 percent down or less. I would like to do a 15 year or 10 year loan on each. 

Thanks for your response Bob. My goals are to get the best return on investment possible and that would be to finance the places without leveraging so much that it's to risky. Paying cash the return isn't as high 

At this point I own 44 rental properties in Maryland and one beachfront condo in the Outer Banks NC. Most of these properties are condos ranging in price from $60,000 to $100,000 and each has a monthly condo fee between $190 and $230 per month. They are all currently rented for between $1000 a month and $1300 a month. I have been in business for 5 years and have strong relationships with local banks but Im looking to find a bank or private lender (maybe wealthy person) who doesn't require 20 to 25 percent down. The rents are so high compared to the mortgages I have been able to pay off several places in full in a few years as I do not spend any of the extra rent money each month I just use it to pay down more principle. My goal is to get a base of 10 to 15 places paid off completely and expand a great deal always keeping these places paid off in full to cover the monthly cost of the new places. The new places would also of course be rented out as well.

I also own a real estate sales team in which I'm earning between $400k and I expect to make around $800k or more this year. I could use this money to pay off 10 properties and have an income guaranteed in rent of over 100k a year. Basically these condos are almost 0 risk to a bank or lender in my situation. I sit on the board for the associations as well. My ultimate goal is to knock on doors and buy most of the neighborhoods.

Let me know if you know a bank or person who would finance these deals for me on 7 to 10 year loans. My goal isn't to really
Leverage a lot but to just be able to buy these places and pay them off quickly. The first year or mortgage payments to the lender would pay down the property more then 20 percent easy.

At this point I own 44 rental properties in Maryland and one beachfront condo in the Outer Banks NC. Most of these properties are condos ranging in price from $60,000 to $100,000 and each has a monthly condo fee between $190 and $230 per month. They are all currently rented for between $1000 a month and $1300 a month. I have been in business for 5 years and have strong relationships with local banks but Im looking to find a bank or private lender (maybe wealthy person) who doesn't require 20 to 25 percent down. The rents are so high compared to the mortgages I have been able to pay off several places in full in a few years as I do not spend any of the extra rent money each month I just use it to pay down more principle. My goal is to get a base of 10 to 15 places paid off completely and expand a great deal always keeping these places paid off in full to cover the monthly cost of the new places. The new places would also of course be rented out as well.

I also own a real estate sales team in which I'm earning between $400k and I expect to make around $800k or more this year. I could use this money to pay off 10 properties and have an income guaranteed in rent of over 100k a year. Basically these condos are almost 0 risk to a bank or lender in my situation. I sit on the board for the associations as well. My ultimate goal is to knock on doors and buy most of the neighborhoods.

Let me know if you know a bank or person who would finance these deals for me on 7 to 10 year loans. My goal isn't to really
Leverage a lot but to just be able to buy these places and pay them off quickly. The first year or mortgage payments to the lender would pay down the property more then 20 percent easy.

At this point I own 44 rental properties in Maryland and one beachfront condo in the Outer Banks NC. Most of these properties are condos ranging in price from $60,000 to $100,000 and each has a monthly condo fee between $190 and $230 per month. They are all currently rented for between $1000 a month and $1300 a month. I have been in business for 5 years and have strong relationships with local banks in Frederick but Im looking to find a bank or private lender (maybe wealthy person) who doesn't require 20 to 25 percent down. The rents are so high compared to the mortgages I have been able to pay off several places in full in a few years as I do not spend any of the extra rent money each month I just use it to pay down more principle. My goal is to get a base of 10 to 15 places paid off completely and expand a great deal always keeping these places paid off in full to cover the monthly cost of the new places. The new places would also of course be rented out as well. 

I also own a real estate sales team in which I'm earning between $400k and I expect to make around $800k or more this year. I could use this money to pay off 10 properties and have an income guaranteed in rent of over 100k a year. Basically these condos are almost 0 risk to a bank or lender in my situation. I sit on the board for the associations as well. My ultimate goal is to knock on doors and buy most of the neighborhoods.

Let me know if you know a bank or person who would finance these deals for me on 7 to 10 year loans. My goal isn't to really
Leverage a lot but to just be able to buy these places and pay them off quickly. The first year or mortgage payments to the lender would pay down the property more then 20 percent easy.

Here is my background. I own 44 rental properties in Maryland and one beachfront condo in the Outer Banks NC. Most of these properties are condos ranging in price from $60,000 to $100,000 and each has a monthly condo fee between $190 and $230 per month. They are all currently rented for between $1000 a month and $1300 a month. I have been in business for 5 years and have strong relationships with local banks but Im looking to find a bank who doesn't require 20 to 25 percent down. The rents are so high compared to the mortgages I have been able to pay off several places in full as I do not spend any of the extra rent money. My goal is to get a base of 10 to 15 places paid off completely and expand a great deal always keeping these places paid off in full to cover the monthly cost of the new places. The new places would also of course be rented out as well. 

I also own a real estate sales team in which I'm earning between $400k and I expect to make around $800k or more this year.

I am looking for a bank who will finance these properties moving forward and 10 to 15 percent down or less. I would like to do a 15 year or 10 year loan on each.