All Forum Posts by: Jonathan New

I am out of Chesapeake and always looking to expand my network.

I've written dozens of smaller project LOIs, but I am writing a LOI for my biggest deal yet. I would love to get different LOI formats that other syndication sponsors use. Also, I intend to include an escalation clause into the verbiage and am seeking out a bit of clarity on how other investors would word that.

The two I mentioned don't have any seasoning.  

Alexis, I'm developing the lead generation piece of my business, but it's more of an ancillary/funnel feeder than my main business focus.  My main focus is large multi-family, but I'm here to see what kind of responses you receive and to connect with you.  Happy hunting!

I am bringing on a credit partner into my company to get over that hump.  They have to own the majority of the company, so it has to be someone of great trust or written agreement to terms of ownership.  

back end lending, IMO, is the most difficult portion of BRRRR right now.  If you are ok having the loan in your name/credit report, you have more options.  If you want it off your report and strictly in your LLC, ABNB and 1st Advantage FCU might be your best bet (Hampton Roads local)

Great information across the board.  My capital raising has been strictly through my close personal network so far, and this is the first time that I've had troubles pulling money together.  Most are citing fears for the near future, which is why I am turning to BP to see how people are getting around this - changes to underwriting, not buying at all, whatever you all are doing to adapt.  I am networking out to other local investors to partner up and tap into their capital spheres, anything to get to the finish line.  

Thanks again, everyone!

I'm having problems raising funds over the past few months, even for my first ever 2% rule deal (16 units).  

Is anyone else experiencing this challenge, or is it just me?

My portfolio is now at 17 properties, and I am looking into the possibility of tapping into some of the $608k equity that I have built into these deals.  They are already leveraged at 75-80% however, so therein lies the rub.  Is liquidation the only option, or are there lenders/PM partners who would lend with the remaining equity as collateral?   I believe that I know the answer, but if such a lender or partner exists, this place knows about them.  

Agreed with @Sean Rooks.  The meetup ran by @Claudio Valdivia and @Erica Osborn is the best in HR.  I have benefitted more from it than any other meetup in the area.