All Forum Posts by: John Hill

@Becca Summers thank you! That deal is on units that are less than 5. This one has 10 and therefore falls under commercial lending. I've tried MAC but thank you for the referral..

John

@Corey Dutton thank you! That's basically what the banks and credit unions are offering with a lower rate. I'm assuming the advantage with your company is possibly a Quicker funding timeline?

@CoreyDutton thank you! That's basically what the banks and credit unions are offering with a lower rate. I'm assuming the advantage with your company is possibly a Quicker funding timeline?

John

BP, I'm looking for financing for a Multi-Family property in Utah. My hope is to put the least amount of cash down on the deal (less than 20%). Seller financing unfortunately is not an option on this one. I've visited local banks and 20-30% seems to be the norm. Any recommendations for a lending source would be greatly appreciated! I have more details to provide the lender via a private Message. I have experience in managing rentals and currently have 3 SFR that I rent. I have 720 FICO MID score and have been employed by the federal government for the last 13 years. I'm looking at terms between 3-6 yrs with a 30yr amortization. I would be putting 10% down. Deal is less than 350K. Private equity, commercial, Utah, salt lake, financing, hard money, capital, fund, John

@paul winterowd actually greater than 5.

Thank you Sajju. I'm hoping to find private equity in which to tap into. I have experience managing 3 SFR that I currently own. I have cash but looking to use it for some needed repairs fir the subject property.

BP, I'm in need of financing for a <5 unit Multi-Family property in Utah. My hope is to put the least amount of cash down on the deal (less than 20%). Seller financing unfortunately is not an option on this one. I've visited local banks and 20-30% seems to be the norm. Any recommendations for a lending source would be greatly appreciated! I have more details to provide the lender. Thanks BP! John

Happy New Year Utah BP! Is the meeting on the 7th at the Huddle something I can attend? If so how would I find the group the bar?

Good luck on getting an agent to lower commissions. Usually as a seller you will have more leverage in negotiating a lower commission but as a buyer not so much. Another good source for help with closing cost is Fannie Mae homepath. Definitely google homepath and check that out. Good luck!

Price out a blow in liner. Basically they blow a plastic material down the existing main and let it cure inside. No digging needed. A little more pricey but worth having to avoided demo of a foundation and destruction of your yard.