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All Forum Posts by: Lucas Hattervig

Lucas Hattervig has started 1 posts and replied 6 times.

Post: Investor Friendly Agent in Sioux Falls

Lucas HattervigPosted
  • New to Real Estate
  • Sioux Falls, SD
  • Posts 6
  • Votes 1

@Annamarie Albers I used Tony Erickson with Hegg Realtors to buy my first duplex. He owns quite a few rental properties in the area mostly small multi-family, but i think he has one SFH, and one 10 unit.

Tony and his team were good to me and seem to have a good understanding of the area.

Another realtor who does a lot of business in town in Ron Weber with Hegg and he invests in mostly SFH I believe.

Hope this helps!

Post: Questions for Potential Lenders When Getting Started

Lucas HattervigPosted
  • New to Real Estate
  • Sioux Falls, SD
  • Posts 6
  • Votes 1

@Rachel Asay Thank you for your well wishes! 

Post: Questions for Potential Lenders When Getting Started

Lucas HattervigPosted
  • New to Real Estate
  • Sioux Falls, SD
  • Posts 6
  • Votes 1

@Dave Skow Great! I will put something together shortly and get started feeling out a few of my options on Friday. Thanks for all your insight!

Post: Questions for Potential Lenders When Getting Started

Lucas HattervigPosted
  • New to Real Estate
  • Sioux Falls, SD
  • Posts 6
  • Votes 1

@Dave Skow Thanks for your advice! I'll look into some of the lenders in the area and let them know what my plans are. I'm new to having this conversation with lenders as I've never had a mortgage or even a car loan. So, are there any specific questions you would ask? I have a few in mind, thanks to some help from another investor:

Have you worked with investors before? What are the interest rates? What is the market like? How many deals do you do in a year? Have you ever not met a deadline for giving a loan, if so why? 

Anything you would add?

Again thank you for any and all advice!

Lucas Hattervig

Post: Questions for Potential Lenders When Getting Started

Lucas HattervigPosted
  • New to Real Estate
  • Sioux Falls, SD
  • Posts 6
  • Votes 1

@Chris Mason Thanks for your advice! I'm just trying to get everything squared away, and be as prepared as possible for my first deal! I'll hold off for a little while. 

Thanks again,

Lucas

Post: Questions for Potential Lenders When Getting Started

Lucas HattervigPosted
  • New to Real Estate
  • Sioux Falls, SD
  • Posts 6
  • Votes 1

Hey everyone, 

I just recently graduated from graduate school and I'm really interested in REI. Over that past 6 months or so I've been consistently listening to the BiggerPockets podcast and reading several real estate books including Brandon Turner's "Investing in Real Estate with No and Low Money Down". I'm going to be working hard to save up for my first real estate deal, and would like to get more serious about actually purchasing a property in about a year. My goal is to buy a triplex or 4-plex and live in one unit while renting out the other 2-3. Currently I'm putting a REI team into place. I sat down with several agents and found one that aligns with my goals. Now I'm looking at building a relationship with a lender. I know one of the local banks does 5% down conventional loans which would save me PMI after I achieve 20% equity in the property. Just interested to hear from some of you if their are certain/specific questions I should ask potential lenders when trying to decide which will be right for me?

Thanks for your input. Cheers.

Lucas Hattervig