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All Forum Posts by: Matt Fischer

Matt Fischer has started 6 posts and replied 11 times.

Friends, 

I am looking to find a financing option. I have two properties in W/Maryland.  One has 137,000 and the other 112,000 on it and then I have a second mortgage on another for 30,000K.  I am trying to find a loan option that I could do a blanket loan over all of the properties for a 30-year mortgage at a lower interest rate.   The 137 and 30K are both residential, the 112K has 2 residential apts, we are building out two more and deciding if we want to turn the vacant office on the main floor to residential or rent it as an office.   

Any advice of someone who would be willing to fund the loan, We have great financial and great credit. Or any advice on a loan product that might fit the bill at a 30yr loan.  

Please let me know if you have any advice we want to move quickly before the rates go up again.  

Thanks, Matt 

His name is Alex Hernandez here is what he wrote: 

We have a loan rogram that allows investors to invest in real estate while putting only 10% down

30 yr fixed 15 yr balloon, 45% DTI max, rates 3.5-4%, 1-4 units, loan limits follow confirming 647,200-1/m

Not nationwide. AZ, UT, NV, ID, WA, OR, CA

His name is Alex Hernandez here is what he wrote: 

We have a loan rogram that allows investors to invest in real estate while putting only 10% down

30 yr fixed 15 yr balloon, 45% DTI max, rates 3.5-4%, 1-4 units, loan limits follow confirming 647,200-1/m

Not nationwide. AZ, UT, NV, ID, WA, OR, CA

Hi everyone, I am trying to find a creative option to buy a property with a lower 30yr fixed rate, 10% or less down, it will be nonowner occupied.  It's under contract, the seller's goal is just to get the equity out of the house to purchase another one.  The home is in Western Marlyand. 

Does anyone out there have any creative ideas? 

Hey everyone, I recently heard of a loan product in the west that was 10% down for a non-owner-occupied mortgage, it could be used in 1-4 unit properties.  Does anyone in Maryland know of a similar product, I have a house under contract at the moment and want to find a loan that lets me do a 30 year fixed rate, 10% or less down.  

Update part two:  Thank you everyone for your advice.  At the end of the month, I will be heading out to MD for my first time since Covid hit to check on the properties.  @Tim Miller @Cordell Martin 

@Sean H. @James Mc Ree  Thank you all for your advice,  I will look into all those options. I will also work on doing an audit of the street and see if I can get other neighbors on my side.  Sadly our tenant is moving out because of the problems, but I am going to look into all options to return peace to the street.  I am also going to reach out to the Homeowner and insist he changes property managers ( I have a recommendation of a great property manager) as a backup to see if he is willing to sell, and then my final backup is to have an attorney get involved.   Thanks again for all your great advice. 

Post: Creative 1031 Exchange we need your advice

Matt FischerPosted
  • Investor
  • Utah
  • Posts 11
  • Votes 0

We are looking to see if there is any way you can roll a 1031 exchange into building a structure (Capital improvements) on a raw piece of land that we already own. So the exchange would be put towards the construction of the building.    Anyone have any creative legal ways to make something like this happen? 

Post: BP Tax Lien Gurus. We need your advice.

Matt FischerPosted
  • Investor
  • Utah
  • Posts 11
  • Votes 0

BP Tax Lien Gurus. I am in the middle of a Tax Lien Auction right now. I have 2 weeks to learn about them and try to purchase the tax lien on my neighbor's property. Are there any resources you would recommend? The property is in Arizona so there is 3 year redemption period. Also, I am wondering about where the bids usually end up relative to the amount owed and the property value. Thank you!

Post: Tax Lien Sales

Matt FischerPosted
  • Investor
  • Utah
  • Posts 11
  • Votes 0

BP Tax Lien Gurus.   I am in the middle of a Tax Lien Auction right now.   I have 2 weeks to learn about them and try to purchase the tax lien on my neighbor's property.  Are there any resources you would recommend?  The property is in Arizona so there is 3 year redemption period.   Also, I am wondering about where the bids usually end up relative to the amount owed and the property value.  Thank you!   

Thank you everyone for your suggestions.  Here is a little more about the story.  In March we got a call from my neighbor saying a bunch of kids are in our Airbnb house.  We obtained a video from Snapchat of the minors in the house.  They did $3K damage.  6 months later the Juniniles were tried, slap on the wrist.  We got $187 in restitution from the Maryland courts.  These same kids (2 of which live in the house from the landlord who doesn't care) have cause multiple scares for our guest in the Airbnb, with Decembers guest leaving after 2 days of a month-long booking, where we lost another 1800, which this is not the first time we have had long term guest check out after a day or two in the last few months.  For the previous 5 years, we did very well with this Airbnb.  Two of the minors took things too far and now are in Juvenile detention 100 miles away.  I understand a lot of this is from covid kids out of school etc, but it's sad to see the street I cleaned up 9 years ago go downhill.    

@Therese - Great Idea to contact the owner that would clean things up 

@ Christine  Thank you- Our neighbor runs an Airbnb across the street and he put up cameras 3 months ago that has helped, we have started compiling records of the incidents. 

@ Damasco Thank you- I am going to look into a community-oriented policing program, we only have 3 small downtown streets to protect, they are blocked by land barriers from the rest of the town.  Yes, they are criminal in nature, but with catch and release Juveniles, they need a lot of marks against them before they are sent to Juvenile detention. (which the group is being thinned out slowly) 

@Wayne thank you, we do have proof of misdeeds from the tenant's juvenile kids. 

@ John - Thanks for your input.  Sell and buy in a better area might be the solution. We have actually started investing in another state for that reason. 

Any other input is appreciated, I'll send an update once we figure things out.   I hope you all have a very Happy New Year.