All Forum Posts by: Marc Phelps

If you are buying in Illinois regularly, I'm happy to pull title for you before you buy from time to time. 

We can close those and will gladly waive the escrow fee if you reach out to me upfront.

It won't matter but if it would ease your nerves (and you are in one of the states we do closings in) I'm happy to pull your title and let you know if you are clear.  

I've recently started working for Presidential Title Group and live in Georgia. I've done hundreds of transactions as an investor and can tell you that we are hands-down the fastest and least expensive in Georgia and just about every other state we service.  Reach out to me and I'll waive your escrow fee on the first deal we close.

I'm looking for a partner to provide debt capital that will be secured by redeemable tax deeds and/or tax liens.  Properties in Georgia and potentially Tennessee and Indiana as well.  Looking for low 'junk fees' and a total cost of capital between 8 and 12%.  We can discuss the details further but I would expect the debt to be collateralized at around 90% of purchase price and under 75% of current value.  18-36 month term.  Monthly funding of 50-200K.

I have 12 years experience with this type of investing. I'm a licensed agent in Georgia. I have solid W2 income and excellent credit. I would prefer to fund in the name of an LLC but I'm willing to provide a personal guarantee.

@Stuart Chinworth  I'm in a very similar situation. I have a great network of investors but I can't source enough of the larger deals to place the capital available to me.  I haven't done a large syndication and have been trying to find a syndicator who would be interested in bringing me on for a deal to raise capital and learn the ropes.  I have had success with smaller deals but just feel like I lack the experience to confidently invest other peoples' money into a large multi-family.  

I've been considering joining a training or mentoring program primarily for networking with syndicators who need capital partners but I just haven't been ready to pull the trigger on $10k+ for one of the better known mentor programs.

If you get any feedback, please share it and I'll do the same.  I think it's possible that the market has so much capital available right now that we just don't bring enough value as potential partners without more experience.

@Nicholas Covington I'm not concerned with how much I take out. I would like to do >70% LTV but I'm real flexible, I just want to add some leverage to the deals. I don't have a particular cash amount in mind.

I also don't mind single loans as long as I could work with the same lender on all of the properties.  Everyone is willing to lend on the LTR individually, the challenge is putting something together that would allow me to lever the whole portfolio.

@Nicholas Covington Thanks for the feedback. I'm finding that also. I assumed that we would look at the portfolio as a commercial-type blanket mortgage with an excellent DSCR but I'm finding that bankers don't like creative real estate - no matter how profitable. I've had some offers from "Hard money" companies but the rates are hard to swallow.

I have a portfolio of 9 homes (single-family, duplexes, and triplexes) in Indianapolis that I bought individually and rehabbed with cash in the last 18 months.  Some are long-term rentals but most are short term Airbnb rentals. Cashflow is very strong but I'm struggling to find a lender who will do a cash-out loan on the portfolio because of the Airbnb properties. Does anyone have a recommendation or experience with getting mixed properties like this leveraged?

My goal is to redeploy about 1mil and get a 15-30 year term at a sub-6% interest rate.

Please add me to your buyers list. [email protected]