All Forum Posts by: Michael David

Hey David! Send me a message and I'll match you with with a lender who works with BRRRR investors in CA.You can also use the Find A Lender tool in the Build Your Team tab above.

Hey @Zalman Ives there are some non qualified owner occupied mortgages for self employed borrowers that can consider their business bank statements but I believe the down payments are closer to 10%. Purchasing under the business can push the downpayment to 20-25%. I'd ask a lender to consider the income for owner occupied FHA or conventional depending on their situation. Hopefully a NY lender can clarify here.

If you need help finding a lender send me a message and I'll see who we have in NY. Or you can check out Build Your Team>Find A Lender.

Hey @Nick Bandiera hopefully an attorney can chime in here about your questions for entity formation. 

For conventional or hard money loans you'll need to put 20-25% down and the terms would vary from based on loan type. Get some terms sheets for different types of loans. If you need help finding a lender then send me a message or check out: Build Your Team > Find A Lender. Good luck!

Hey @Avinash Dongarwar hopefully someone can recommend some contractors. Here are the ones we have in the Build Your Team tool. https://www.biggerpockets.com/...

Hey @Ruark Adam Barrientos bumping this so someone can give a recommendation of a hard money lender they've used. If you don't find one you can try the Find a Lender tool as well. What type of loan are you looking for? https://www.biggerpockets.com/...

-Mike 

Thanks for the explanation @Randy Rodenhouse! This is important for creative finance investors. Between the IRS rules on installment sales and laws on wrapping mortgages, this is something you can not ignore. 

Great post!

Hey @Ryan Johnson if you are trying to take equity out of your primary your debt to income ratio will matter. You'll need to factor that into your ability to repay the rental property loan. You'll want to make sure you know the total cost of the HELOC if you're using it as a down payment. If the rate increases too quickly, you are on the hook. If you need help finding a lender for a HELOC on your primary DM me or check out the Build Your Team Tool>Find A Lender. Good luck!

Hey @Kris Bano if someone doesn't have a recommendation then you can check out StackSource and see if they can help. They work with commercial investors. There are also hard money lenders who can work on some large multifamily. Let me know if you need help finding a lender. https://www.biggerpockets.com/...

 Hey Alex! Thanks for letting me know. This is on his Eventbrite page. I should have checked it again. Here is the updated link. 

Will you be there? 

-Mike

Will be in KC that weekend and want to connect with anyone else planning on going. 

You can register directly with Pace here. 

-Mike