All Forum Posts by: Josh Porthouse

Hey everybody, I have an interesting opportunity and I need some advice. A friend presented me with a deal that is 5 units on one singular plot in the Jacksonville area of NC, outside of city limits. It consists of 2 duplexes and one mobile home. I am working with a few potentially interested private lenders, and then also considering refinancing options for months down the road.

This is currently an out of state consideration for me because I am out for training at the moment with other eyes on the property for insight. In order to pay off the initial debt, I have considered a few personal and commercial refi options that all require about 25% as a down payment, based on the respective LTV stipulations. What are some options that you have experienced to cover that high of a down payment in order to qualify for the refi, pay back the initial lender, and still not break all of my savings or disposable capital in the process?

I'd like to consider these ideas prior to making an offer. Thank you all for your insight.

Good morning Nancy, can you DM the address of the property?

I agree. Let me know when the next meeting is. I'd love to be there.

The property turned out awesome. Nice job.

I have an income but I would prefer to use more financing because I don't have much capital of my own.

Hey everybody, I appreciate the insight. I was thinking of using them. Does anyone have any other suggestions for a different lender then?

Thanks Jay. I'll check them out. I just heard of Lima One earlier today as a matter of fact. I appreciate your quick response.

Hey everybody, I am new to Bigger Pockets and real estate investing but I have used the house flipping calculator to assess a few different foreclosure properties between Jacksonville and Pollocksville in North Carolina. I want to start flipping properties as soon as possible. Does anyone have any recommendations on finding lenders in the area who are willing to partner?

When I use the app, if I switch windows in the middle of using the flip calculator and then come back to the calculator, the app resets all of the information that I have entered unless the report has already been generated. Anyone else have similar issues or fixes?