All Forum Posts by: Jesse Kerr

What lender has a 50k min? 

So I need the most amount of bedrooms for rent's sake and the least amount of square footage to pay the least amount in insurance..  There's the sweet spot noone talks about. 

This is gold info.. Thank you for sharing.. 

Anyone have suggestions on insurance companies?  I'm currently around 8% of market value per property.  Is this in par with what everyone is getting?  100k property - 80'ish/month.  

Appreciated.. 

Hi, 

What I need regarding long term commercial financing:  

Need to use my own appraiser

<75k loans 

Able to "buy" out of prepaids and/or adjust. 

3 month seasoning

Provide min credit score.

Can anyone suggest any lenders who can finance <75k dscr loans? 

 Sure….  Is there an area everyone/anyone is meeting?

In lending and value.. residential value is based on ARV and/or recent sold prices within X area.. Commercial is based on cash flow. If a 5+ unit property is considered commercial, is this asset's value based on cash flow? Same thing with buying a 10-15 unit apartment, rent out for X/unit.. The value is based on cash flow?

 It's strange really.  I sit here literally knowing the feeling your having now and mine was just a year ago.  To answer your question, I threated my life that if I didn't get the needle moving, I felt like my life would end.  I had a date that no matter what happened in my life, I would meet my goal.  Just one property by the end of the year .. It was September of last year.  I read every book, podcast, ticktok video I could find.  I was over saturated with real estate but no action. sooo...  I refinanced my house, cashed out my 401k, I put it all on the line..  A calculated line.  Many on BP won't attest to doing this and many don't have the risk tolerance.  I just jump into things - probably why I have 65+ units now in under a year.  Sure, it could've worked out, but..   What if?   What if I can pull this off.  I'm the guy who works out in my warehouse on a concrete floor listening to movitivaial clips turned into a movie - via imovie on your phone.  I don't listen to music.  I prepare my mindset 7 days a week - yes, workout 7 days a week - so my day is tunnel vision of what I want.  A year has gone by and it still feels like I started.  I grind my teeth, sometimes my hair falls out, back of neck is tense and I need massaging often from stress.   Why??   because I have a goal and it's that important to me..  Nothing get's in my way..  I don't share my goals with anyone, I protect my mindset from everyone, even family.  If you truly want this and not let it take a decade to get there, yes, in a year..  1 year..  you could retire..   And no, I don't plan on retiring.  And from what you've read so far..  You can imagine how far I want to go..   Lastly ..  pretend you jump into the ocean, waves crashing into you. barely being able to grasp air..  You'll fight, do anything to stay afloat..  and.. You will because you want to survive..  Have the same mentality..  I promise you, you'll respond to someone a year from now and have tears rolling down your face just like I am now , reminiscing of the time when it was so difficult, yet..  so worth it..  

I'm at 65+ units.  Managing them myself really isn't not so much what I don't want to do, but wouldn't be able to scale by doing so.  If I was held down by placing tenants, calling maintenance, listing properties, I wouldn't have much time to grow.  I commend you for being able to do this yourself.