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All Forum Posts by: Maurice Lucas Jr

Maurice Lucas Jr has started 6 posts and replied 15 times.

Post: Structuring my business

Maurice Lucas JrPosted
  • Lender
  • Detroit, MI
  • Posts 15
  • Votes 4

I'm curious as to why so many people use solutions in there business name? Is it because they're not licensed? I'm wondering if my business name For The Family Realty LLC is inappropriate given I'm not licensed?

What are your thoughts on this BiggerPockets family?

Post: Government shutdown igniting a recession?

Maurice Lucas JrPosted
  • Lender
  • Detroit, MI
  • Posts 15
  • Votes 4

HUD has declared there won't be any contracts renewed or initiated as on February 1. The department doesn't have the funds to due to the government shutdown. This is a catastrophe and will have a significant impact on the market and the economy. How are you guys preparing to not get paid for your section 8 properties?

https://www.nbcnews.com/news/amp/ncna955971

Post: How to determine war zones?

Maurice Lucas JrPosted
  • Lender
  • Detroit, MI
  • Posts 15
  • Votes 4

@Russell Brazil do you mind sharing your bad experience? What issues arose and how did you or how should you’ve handled it?

Post: Best cities to find 1% (or more) rule

Maurice Lucas JrPosted
  • Lender
  • Detroit, MI
  • Posts 15
  • Votes 4

@Blair Colsey would you be interested in the Detroit market?

Post: How to determine war zones?

Maurice Lucas JrPosted
  • Lender
  • Detroit, MI
  • Posts 15
  • Votes 4

What makes an area a war zone? Detroit is recovering, but there is still has a ways to go before it catches up with other metropolitan areas. However, that doesn’t mean there aren’t good cash flowing properties here! The business model just has to be adjusted for the market. I’m interested in providing cash flowing deals to investors, but it seems that many are afraid of our market. With that being said, what makes a neighborhood a war zone?

Post: Investment opportunities in Detroit

Maurice Lucas JrPosted
  • Lender
  • Detroit, MI
  • Posts 15
  • Votes 4

@Jamiel Strickland if I brought a deal to you, would you be interested?

Post: Delayed Financing Lenders

Maurice Lucas JrPosted
  • Lender
  • Detroit, MI
  • Posts 15
  • Votes 4

@Andrew Postell WOW! That is a genius strategy! Definitely a hidden gem. I will definitely be implementing this strategy. I’d like to run a few more strategies by you if you don’t mind? I can PM you if that’s better.

Post: Delayed Financing Lenders

Maurice Lucas JrPosted
  • Lender
  • Detroit, MI
  • Posts 15
  • Votes 4

@Luke Schrotberger HELOC funds aren't acceptable?

Post: Familiar with delayed financing?

Maurice Lucas JrPosted
  • Lender
  • Detroit, MI
  • Posts 15
  • Votes 4

I'm interested in utilizing a HELOC to purchase an investment property. Once acquired, I'd like to take a mortgage out on the new property using delayed financing. What lenders offer this type of financing? Will the HELOC cause eligibility issues? What do the interest rates and terms look like? Any insight or recommendations would be great! Thanks.

Post: Investment opportunities in Detroit

Maurice Lucas JrPosted
  • Lender
  • Detroit, MI
  • Posts 15
  • Votes 4

Any investors in Detroit? If so, what’s your criteria?