All Forum Posts by: Jonathan Chan

I have several rentals in AL, MD and TN that have a decent amount of equity. Looking to tap into it without doing a cash out refi to replace the existing rates with current rates. I want a HELOC, but have never heard of anyone finding an institution who would do it. Any suggestions?

I've been in subto since June 2022. Best program I've ever been apart of and this is the 3rd one. It's a game changer. My operator is from Top Tier TC and my underwriter is from Gator. I've done 11 lending deals in the past 2 months and have been able to retire my mom with what I've learned within the group. It requires a lot of work and it will be overwhelming, but the education alone is worth way more than what you pay. Honest opinion...I get nothing by telling you this.

I'm a private money lender who also brings in lending partners on opportunities for BRRRR and fix and flips. These are typically 6 months or less with 1 borrower. We used to have 3 others, but have since dropped them due to poor communication. We have strict criteria in what we want to see with our borrowers, because we're lending on these opportunities as well. I want to meet people people who would be excited to get into these types of opportunities. I'm open and transparent, happy to answer any questions AND looking forward to making money with you.

Hi,

I'm looking for private money lenders, not HML or conventional lenders, who prefer to set their money collateralized against existing, stabilized long term rentals in AL and TN. I have a bunch of equity in 7 properties in those two states that currently have 3-4% interest rates. I'm looking for someone who'd be happy to come in 2nd position for 3-5 years and receive interest only payments with a balloon at the end of the term. I can provide HUDS, lease agreements, mortgage statements and property P&L's from my PMs.

Security documents you will receive from me:

- Promissory Note

- Title policy

- Deed of Trust

- Personal Guarantee

Thank you!

Hi All,

I'm a semi experienced real estate investor. I've closed and dispoed 4 wholesale deals, flipped 7 lots of land, own 30 rentals and have closed around 25 deals as a lender. It's been a pretty cool journey and has allowed me to leave my W2, however, I've come to the realization that my current strategy of delayed gratification is no longer working for me. I jumped into real estate doing the BRRRR method, understanding that holding property will allow me to build generational wealth, but then learning that landlord income is not the best way to feed your family. That brought me to about a year ago, when my Mom wanted to retire. I moved all of her old retirement money into a self directed IRA/Solo 401K and started putting her money to work through real estate lends. It's been great, but I'm not able to financially benefit from any of that money. This brings me to now, I've taken this approach and have used my own money in lending, but am also bringing in friends and family to take part in these transactions so they can earn way better returns than with CD's. The only problem is that these are 6 month lends, I'm 1.5 months into this, so any work that I do now will not reap any kind of benefits until 6 months from now. Going back to a W2 is not what I want to do, at least not in my old industry.

I've learned through my 4 years of experience within real estate that my strengths and best used in raising capital. However, I'm new to this and have really only started raising money through friends and family here and there. It's been great, we've hit over 4M in soft commits through 2 months, but we've only deployed about 500K. I feel like there are some strategies and follow up I'm missing and hoping to work for a capital raiser or an investing group as a capital raiser, so that they can focus on what they excel at, rehabs and project management. Has anybody gone this route? Any suggestions on where to look other than the facebook outreach I've been doing?

 Inability to show proof. If you can back up what you say with hard evidence, I move on.

Leesburg! I used to live in Fairfax right by GMU.

 I thought I had responded to this, but I don't see it. Anyways, yes, I'm lending out of my own SDIRA as well. Right now, there's no plan to minimize taxes just yet. My main focus is to make sure my Mom has enough cash to live off of while she enjoys her retirement. As for my account...I'll deal with it when the time comes.

 Thank you!

 Thank you sir!

Anybody on here have a podcast? Want to guest on each other's shows?