All Forum Posts by: Michael J. Finnegan

Hey BP,

I am struggling to figure out how to develop the best strategy to find and build relationships with true private money lenders.

I am a buy and hold investor who focuses on small multi-unit properties in the Connecticut markets. I have recently came to a crossroads in my investing. I need to find capital to keep investing. I continually find deals but utilized my limit on conventional loans and joint ventured (JV) with family members & friends motivated to invest.

Looking for strategies on finding and building relationships with private money lenders. Not looking for typical hard money lenders but individuals with capital that I can work together with on buy and hold deals. Lenders I can build a relationship with and continually present deals too. Lenders looking to either JV or passively invest.

Looking for suggestions and stories on how other investors found this type of private money lender.

Thanks BP!

Hey BP!

Exploring the idea of investing in REO properties. How is everyone finding REO properties? Are there any locations / websites that hold comprehensive lists based on states?

Excited to begin researching some properties.

Thanks

I have a 4 unit on contract.  It’s about 40k less then full comparable value.  The property is rent ready, two units occupied, two vacant, and great cash flow when fully occupied.  I am inquiring about what financing options/ strategies are available that do not require a traditional 20/25% down payment.

I am 37 years old with 20 units (5 triplexes and a 5 unit building) I currently have a 4 plex under contract. I started at 21 house hacking a triplex! It hasn’t been easy, made some mistakes, but well worth it.

@Steven Kleppin I will be downloading the podcast. Thanks for the information! 

@Karen Schimpf Thank you very much for the explanation. It helped me understand. I have a question - when the loan becomes adjustable is that something I should be worried about? Meaning - if I purchase a property for long term buy and hold plan, after 5 years my rates become adjustable, can I find myself with a sky rocketing mortgage payment that will kill all cash flow in the property? Thanks 

@Salvatore Lentini how do I find the nontraditional type of lender that you mention in your pervious comment? Thanks 

@John Warren & @Todd Dexheimer - thank you very much for your information. It helps tremendously in my pursuit of the right lenders and lending. 

Look to expand my portfolio. Have experience in triplex properties. I am looking to scale up and invest into 5 to 9 unit properties. 

Looking to make a smart choice when it come to lending options. 

Can someone explain what are the typical term options, what should I offer the seller to hold and how the rates work with commercial investment property financing? 

I have been wanting to expand my rental property portfolio. I have found a few deals. I would like to invest into properties with 5 or more units. I don't have the capital to afford the downpayment for a conventional loan. What is the best strategy in approaching these potential deals? 

Thanks