All Forum Posts by: Manuel Angeles

Good Afternoon,

Our Real Estate Investment Club MegaMasterMinds is having an

End of The Year event in Van Nuys CA on White Oak Avenue.

http://www.meetup.com/MegaMasterMind-SanFernandoValley/events/235137408/

Grand Banquet Hall
6754 White Oak Avenue, Van Nuys, CA
Wednesday November 16, 2016

We will have Speaker Robert Campbell author of Timing the Real Estate Market

discuss where this market is headed for 2017. He foresaw the 1990 and 2008 market drops.

If you want to prosper during the next market turn, you should hear what he has to say.

Would you be able to attend ?
We look forward to meeting you with you there.

Thank you,

Best regards,

Direct: (323) 605-7009

Fax: (323) 205-4314

[email protected]
http://fundingwarehouse.com/

Has anyone here acquired a 4plex, then Lived in One of the Units, Rented out other Three?

Or maybe acquired a 10plex, living in one of the units, and rented out the other Nine?

How did you structure it?

What is the best way to structure that ?

@Renee Ren

A good way to structure joint ventures is to get a hard money lender to finance 80% of the Purchase and Rehab. Then have a private money lender bring in the 20% gap through joint venture. Once the property is fixed up and sold, we split profits 50/50. That is how we structure joint ventures.

@Joseph Barreras A good way to structure joint ventures is to get a hard money lender to finance 80% of the Purchase and Rehab. Then have a private money lender bring in the 20% gap through joint venture. Once the property is fixed up and sold, we split profits 50/50. That is how we structure joint ventures.

Typically, Lenders like Transactions in which Purchase + Rehab is less than 70% of ARV. On your deal, Purchase + Rehab is 83.75% of ARV. Do you have other Transactions that we can look at?

@Jean Holley @Rasheema Abduls-Salaam

Typically it takes 7-10 business days to close a loan with a Hard Money Lender. Sometimes we can provide and lend up to 90% of Purchase price and 100% of Rehab costs, so long as the Purchase and Rehab is less than 70% of ARV. Also, having 3 successful fix and flips is a plus.

We are currently working on a cash out refinance for a rental vacation home in Big Bear Lake, and can go up to 65%-70% LTV, at ~7.5% interest on 3 year terms. As long as the property income will cover the debt service, the loan can be done.

Welcome @Robert Thomas , Let us know how we can help you achieve your endeavors

@Pat McCandless For BRRRR deals, lenders will always look at the Purchase Price, As-Is value, rehab budget, After Repair Value, Projected Net Income, and whether or not the Income Property will cover the debt service.

Thank you for this opportunity, I just sent you an email.