All Forum Posts by: Jimmy Moncrief

It looks like your questions been answered.

Just wanted to add that Fannie Mae apartment loans use a 35-year amortization schedule and the rates are below 4%.

It's hard not to make money with those rates!!!!

Agreed!

Why not due to a cash-out refinance on everything to improve liquidity and keep growing?

Great answers above.

I completely agree with Kyle.

Note, I'm an underwriter at a community bank.

I will say you can easily get 5-7% loans on a 20-year am with a 5 year maturity.

Not to make any hard money lenders mad, BUT I do think the reason they are so popular is their marketing.

Nick

Did you find any property management software that does this?

Justin

I don't have anything in audio format, but I'm currently working on negotiation with bankers (I'm a banker). PM me if you are interested.

Nick

Nashville is an awesome location for rentals.

I do some investing there.

Cheers,
Jimmy

I promoise "fix & flip" sounds sexy, but it's a lot tougher and less financially rewarding than you think.

I agree with most of the comments above. Start with simply someone who will pay you a bird dog fee.

You have ZERO risk and will learn the most important aspects - how to get a motivated seller!

Ivan

There are several tactics you could use.

First and foremost though, find a community banker and they should let you get 85% financing if you move non-interest bearing deposits over to their bank. Plus offer auto-pay out of this account.

The next is you could pledge lendable equity in other properties to this loan facilitity to get you where you need to be LTV wise.

Finally, do you have an outside investment account you could also pledge to bring down the LTV?

Hope all this helps.

PM me if you need any more tips - I'm an underwriter and finance these every week. Trust me you can get this done!

I have a blog documenting my horror stories with tentants. It's actually just funny to me.

I was just seeing if anybody had any funny stories to share regarding their tenants.

Thanks!

My blog i [url]