All Forum Posts by: David Lant

I would love to come tonight, but I'm a little Covid paranoid. I've been looking into Hartford, New Haven and surrounding areas for some time. I would love to come to the next meeting if things clear up or maybe we could do a Zoom virtual meet up. I want to gain some insight from local investors.

1 Vote

@Alvin Sylvain thanks for the reply. I'm not necessarily going to use them. I just want to see what they had to offer. I going to start hunting through bigger pockets tomorrow to start hunting down some recommended companies to us.

0 Votes

I was looking to see if anyone out there has used the financial services of Loan guys. I just had a lengthy chat with one of there people about all the different products they provide.

I'm also like happy to get recommendations on any companies that people have successfully used to loan for Refi - Fix and Flip and Multi-unit.

Thanks in advance.

0 Votes

Greetings, I'm stuck in a strange post-divorce situation that is affecting my borrowing capabilities. Because of my recent divorce, my credit score is truly messed up, and the way my business was structured I don't look very good on paper. I have around 700k to shop with but I'm stuck in a holding pattern as traditional banks do not want to work with me. Anyone have and leads on lenders that are willing to work with people like me? Looking for loans up to 1 million.

Thanks for the help.

0 Votes

Thanks for the help.

0 Votes

I waited five years for this deal to come through. I bought two houses in Beacon, NY from a family for 240k cash. I spend 250k on renovations and sold them for a combined total of 860k.

4 Votes

Net worth by the time I retire would be around 4 Million.

0 Votes

Originally posted by @Darius Ogloza:

@David Lant How are you calculating cap rates? NY is a high tax rate state (I own a property up in Monroe County) - I figure you would need to be generating about $3,200 in monthly rent per building to get to a 10% rate assuming $7,000 in annual taxes per building and $100/month in insurance cost? Am I missing something or have you found the promised land?

I hopefully have found the promised land. I've found a few key areas in NY and CT to purchase.

0 Votes

Originally posted by @Jaysen Medhurst:

Lots of wisdom already in this thread from some BP heavy hitters, @David Lant. I think it's important to define your goals. If you tell us what you're trying to achieve, we can better help with our ideas for next steps.

Why the desire to pay off your properties "as fast as possible?" That's rarely the best financial decision. Responsible leverage works. It may "feel good" to own properties free-and-clear (and money is emotional, don't let anyone tell you differently), but if that's the only reason you're doing it...

BTW, how many "syndicators" have sent you private messages since you posted this?

My goal is to cherry pick flips and hopefully pay off the rentals so I can use the rental income as my

main source of income.

0 Votes

9176838533

0 Votes

All Forum Posts by: David Lant

David Lant has started 18 posts and replied 43 times.

Post: New Haven County Meet-Up

Post: Any one use Loan guys?

Post: Any one use Loan guys?

Post: Loaning money in strange situation.

Post: Getting commercial loans with plenty of cash but poor credit.

Post: What's your best real estate deal EVER?

Post: Best option to invest 700k into rentals

Post: Best option to invest 700k into rentals

Post: Best option to invest 700k into rentals

Post: Beacon ny flip or wholesale.