All Forum Posts by: Lou C.

Mark,

Certainly agree with you. What I meant was, depending on the brokerage firm and if you qualify for margin, you may be able to deposit the funds and buy some equities paying a dividend. Then the firm may let you take a percentage of the value out as cash on margin. This can be risky if you don't know what you are doing. Some firms may even do a collateralized loan against a brokerage account however it most likely cannot be qualified funds (IRA's etc...). Again, this is purely for informational purposes only and not considered a recommendation.

I would agree with this statement however finding a residential portfolio lender especially at a fixed rate and an acceptable amortization table if buying for cash flow may prove challenging. 

You may be able to use the cash as collateral for a loan if you want to retain it while the bankruptcy falls off or put in a brokerage account and buy some decent dividend paying stocks and pull out cash using the available SMA in the account effectively creating you own loan while the dividends cushion the interest your paying. This would require a margin account. Don't take this a recommendation to do so, purely just informational. 

I am about to close on an owner financing deal with 500 down and owner holding paper for 2 years. That should give me enough time to be on deed where I can refi traditionally. So I would agree with our other friend that said that this may be your best route. Many people will be willing to hold paper for you if you give them 10-20k as a down payment if they are motivated sellers.

Anyone know any portfolio residential lenders that will lend on property in CT? Most banks here only do portfolio lending on larger commercial deals with an ARM and lower amortization schedule which obviously hurts cash flow.

My best deal was my most recent one.  I was fortunate enough to have a client that owned a number of properties to bounce ideas off of when I started.  One thing that I always remember he told me was... "Your 2nd deal will be better than your 1st.  You 3rd will be better than the 2nd and so on".

Anyway, I had stayed in touch with an owner who owned a multi next door to mine. After over 3 years of periodically touching base, I got the phone call "Are you still interested?" My response was of course, "That depends"...on the price.

In the end, we were able to construct a deal that was mutually beneficial where he walked away happy and we got a property generating a 29.17% COC return and a 12.41 cap right next door to one of our other holdings.

This was a great success for us as it was a testament to the importance of following up and that persistence pays off.

Hi everyone,

My name is Lou and I am a Financial Advisor that started investing in real estate back in 2007.  My goal is/was to diversify my holdings and generate long term wealth and income.

Experience

I have been a real estate investor since 2007. My main experience/expertise is buy and hold. My current portfolio generates a cash on cash return over 20% with my most recent acquisition generating a COC return of 29.17% with a 12.41 cap. I have also done some wholesale deals and major renovations with multifamily properties.

Real Estate Goals

My goal is to build a portfolio of rentals generating enough cash flow to replace my and my wife's income. Longer term, I hope to be able to pass this legacy down to my children while teaching them the importance of prudent investing, money management and hard work.  Having the option to retire when I want and on my own terms is a goal of mine. I plan to achieve this via wholesaling to generate current cash to fund my own deals along with various flipping opportunities that are presented. I would like to find a private money partner who values my financial background and expertise while sharing my passion and vision for making money putting together mutually beneficial deals.  I also hope in the future to be able to act as a funding partner and mentor for new, up and coming real estate investors as a way to help bring them along as others have done for me.

Currently Seeking

I am seeking Multi-Family, Single Family & Commercial properties in the Wallingford area and/or surrounding towns.  I have a large network and would be happy to partner on deals with the right person.

As I mentioned above, am also looking for a private money partner to fund deals that I come across.  I do quite a bit of private seller marketing and sometimes have great deals that I have to wholesale due to cash restrictions.

I look forward to being part of this community.

My Best,

Lou