All Forum Posts by: Matt Jorgensen

They were quick and easy to deal with.  Overall very happy with the process.

I closed last week with SCCU (Space Coast Credit Union). 2.75 intro rate for first year. 80%LTV

I am looking for this as well.  I will try Space Coast and TD Bank to see if they can help.  I''l keep you posted.  Please let me know if you find one and can close with them.

Thank you for the info Kevin.  I didn't mention it in the initial thread but we have 7 properties.  Any other lenders you would recommend?

My wife's father passed away and we took on his home that has a good amount of equity (worth approximately $350k and owe $60k on it). We have it set up as a rental and is cash flowing about $1000 a month for us. I would like to find a bank that can do a HELOC on our investment property so that I can use that equity to go buy more rental properties. Does anyone have a lender they can recommend that can help us? Cash out refi is an option but I prefer the flexibility on the HELOC. Any help would be great.

@Jon Huber

Are you still hosting or putting together a weekly or monthly real estate investor meet up?

Are there any current real estate investor meet ups in South Florida?

@Thomas Rutkowski and @Loren Clive

I currently have two rental properties that were purchased through traditional financing and are cash flowing nicely.  I own a wholesale flooring materials company so I can buy flooring, bathroom, and other housing materials at low prices direct from manufacturers.  I believe you can have 4 houses outside your personal home that can be bought through traditional financing but I am working on a game plan from how to get houses 5-10 in the next 3 and a half years.

I am looking to reach out to some friends and family members about investing in real estate.  I want to present a professional package to them.  My thoughts were to ask for between $50k and $200k with a 3-5 year promissary note and offer between 6-8% interest only payments monthly.  I would use the funds to buy distressed properties for cash.  I would then fix them up, get a renter in place, and do a cash out refi in 3-5 years to pay back my investors.  I would then have a mortgage on the property and I will hold and have it cash flow for years to come.  Should I include investors on the mortgage (short term) or get short term life insurance and use them as the beneficiary?  Any other thoughts or suggestions on this plan to make this attractive to investors and myself?

Good morning bigger pockets! I started listening to bigger pockets podcasts a few months ago and finally decided to join the community. I live in Deerfield Beach Florida. I have owned and managed Foundation Flooring in Pompano Beach for over 7 years. My wife and I started an LLC in 2016 to develop a single family rental home portfolio of properties to increase our passive monthly cash flow and generate long term wealth. We currently have 2 investment properties in South Florida and our goal is to get to 10 properties by July 18th of 2020. I look forward to learning from everyone and also offering any advice that I can offer as a fairly fresh real estate investor and experienced flooring professional.