All Forum Posts by: Lee Judd

@Dylan Bond I'm a numbers guys so I want to see the numbers and dig through them. I have guys on my board that like charts and graphs when I present loans to them. I would have both in your package to a lender. Be realistic with your projections and if there is an issue that you see bring it up yourself. If you dont and they find it they will wonder what else you were hiding that they missed. Good luck!

@Mark Carroll

@David Torres would be a great resource to connect with in Albuquerque. If you need a mortgage broker there, message me and I can get you names of a couple we work with.

@Dylan Bond as a lender I like to see folks come in with a plan and a solid understanding of what they have and what they want. If they will give me that info than I can help provide options for them. It will help if you find a lender that understands investors and likes working with them

@Dustin Warner i wouldn't fight them over it. Start marketing it now and try to have someone ready to move in before they move out. Cost and effort to fight it in my areas would be worth it.

My quick analysis looking at cashflow and cash on cash return. If your numbers are accurate it looks like a decent deal to me once you get it rented. 

See if you can find a mortgage broker in your area. They should be able to get you better terms than that. If you have a real estate agent involved ask them for recommendations for banks or a broker. 

@Lawrence H. Banks will do a hard pull on your credit For the guarantee and will want to see you financials. They may or may not report to the credit bureaus. Ask them their policy on reporting commercials loans.

@Prakash Singh i would take the longer term. I always tell my customers they can always pay extra of they go longer but if things get tight they are stuck with the bigger payment on the shorter term.

@Rick Martin Whats the one thing you guys do that you think has the biggest impact on the community?

@Jennifer Schelkopf

I didnt really have a goal for the year but bought 4 properties from another investor i have talking to for 3 years. Finally caught them ready to sell and got them for about 30k under value. I bought 3 more from my boss since he was moving after retirement. He financed 100% of the purchase. I turned around and sold one on a contract to the tenant for almost half the value of the 3 I just bought.