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All Forum Posts by: Loren Davy

Loren Davy has started 3 posts and replied 65 times.

Post: Newbie moving from DC to Odessa

Loren DavyPosted
  • Investor
  • Monahans, TX
  • Posts 70
  • Votes 26

Welcome to Odessa. If you need any help, just ask.

Loren Davy

Post: Portfolio lenders

Loren DavyPosted
  • Investor
  • Monahans, TX
  • Posts 70
  • Votes 26

@Mai Vo, Yes I can help with non-owner occupied SFR to very large multifamlies, and everything in between.

Post: Hard Money or Private Lenders in Philly

Loren DavyPosted
  • Investor
  • Monahans, TX
  • Posts 70
  • Votes 26

Michelle,

I have HML's that work nation wide. What kind or project are you looking at?

Loren Davy

Post: Portfolio lenders

Loren DavyPosted
  • Investor
  • Monahans, TX
  • Posts 70
  • Votes 26

I have lenders that are actively lending to real estate investors. Are you looking for a portfolio lender to expand beyond 4 properties? Are you looking for short term financing for a fix and flip? How about a line of credit to buy, fix and flip; or a line of credit that will allow you to make cash offers on a MF unit until your permanent financing is in place (lines of credit require extensive experience)? There are many options to help fund your deals. Reach out to us and let us answer your questions, [email protected]

Post: How do I buy a million dollar building?

Loren DavyPosted
  • Investor
  • Monahans, TX
  • Posts 70
  • Votes 26

Based on the vague details provided, you have many options. An SBA backed loan will have the most paperwork, but will have the lowest interest and longest term. Asset based lending/alternative lending will require less paperwork but the terms will not be as favorable. JV partners typically are easier to set up but make sure you have a lawyer help to ensure the contracts are legal and cover all your contingencies; late payments, early payoff, etc. Use equity partners as a last resort for funding. Equity partners typically get a percentage of the company profits, over time this prove to be very costly.

From the little,info provided, I would,look into an SBA loan. Once you have determined your down payment requirements, contact a JV partner, if required. Good luck.

Post: Midland/Odessa Investment Club

Loren DavyPosted
  • Investor
  • Monahans, TX
  • Posts 70
  • Votes 26

Tonight is the Midland and Odessa, TX Investment Club meeting. If any investors in the area want to join us, 

Midland Centennial Library 2503 W Loop 250 N, Midland, TX. 

 Hope to see you there. 

Post: New Investor in Midland, TX

Loren DavyPosted
  • Investor
  • Monahans, TX
  • Posts 70
  • Votes 26

@William Kothmann welcome to BP. It's a great resource with a ton of information. I live in Monahans, about 35 miles west of Odessa and work in Odessa. Investing in our local area is tougher then most areas. The market cycles are a lot bigger then most, boom or bust; so REI investing has to be bought at the correct price. If you can keep it occupied and profitable in bust times, them in an up cycle you will do really well. Most of the multifamly properties are still priced at a premium. If your available for lunch sometime, let me know:: 432-770-6105.

Loren

Post: Inspection yesterday found cockroaches - advice?

Loren DavyPosted
  • Investor
  • Monahans, TX
  • Posts 70
  • Votes 26
Go to www.doityourselfpestcontrol.com. Or call a professional exterminator. Either way they are easy to get rid of.

Post: New to BP from Midland, TX

Loren DavyPosted
  • Investor
  • Monahans, TX
  • Posts 70
  • Votes 26
Welcome to BP. There is a lot of information on this site about REI, keep reading. We do have a local REI club that meets once a month (search west Texas investment club). If there is anything I can do to help, let me know. Loren

Post: Newbie moving to Midland, TX

Loren DavyPosted
  • Investor
  • Monahans, TX
  • Posts 70
  • Votes 26

Ian,

Wecome to BP and West Texas. Our market is a little different out here, very much its own micro economy. We do have a REI club that meets once a month, you can find them on Meetup. When you get to the area, let me know and we can meet for lunch. Best of luck.

Loren