All Forum Posts by: Account Closed

@Andy Crooks Thank you! 

It's a bridge lender - we typically use these on properties that aren't stabilized.  We'll refi into an agency loan in the next 18-24 months.

Sounds like you have some experience with the closing cost rollercoaster :)

 @Mallikarjun Reddy Pateel

@Mallikarjun Reddy Pateel

@Beyazid Yunus

Thank you for your kind words! 

There are a lot of factors to consider when picking the right market before you reach out to brokers, but I'll add one of the most important tips here - there are plenty of listings out there for large MF deals - but they are typically overpriced and/or you'll end up in a bidding war and won't be able to make the numbers work.  The harsh truth - commercial brokers won't give you the time of day on pocket listings unless they are confident you have the ability to raise the funds to close the deal.  We realized early on it made sense to find a coach who had a big portfolio and was willing to partner and coach us through the process so we could gain access to solid deal flow.  Before we had a big player as a partner we would even lose the deal to someone who offered less but the seller was confident in their track record and ability to close.  The good news is once you get your first couple of deals done and are building a track record, you'll have brokers calling you with listings (<-- this is the sweet spot!). Hope this helps - feel free to PM me if you have more questions or need clarity on what I said above.

@Kaelyn Motzel Thank you so much!

@Travis Hanson thank you! Looks like you definitely know it’s a great market too 😉

@Mason Moreland thanks Mason! So looking forward to the new venture with you and the team! I have a feeling the lending will be less challenging 😄

@Randy Connolly thank you so much!

@Dmitriy Fomichenko Thank you! We're certainly excited about it as well.

@Melissa Bains Awesome!!

@Bruce Lynn Thank you and yes you're correct - now the real work begins! :)