All Forum Posts by: Michelle Chowan

Hi There!

We recently did our first successful BRRR with a 3 unit multifamily. We cashed out into an FHA and would like to repeat, but we are ineligible for another residential loan.

My question is , could we find a 5-10 unit building and refinance into a COMMERCIAL loan? We would buy the units with hard money, fix it up, and then refinance into a commercial loan and repeat again.

We are trying to learn more about commercial loans in the meantime!

Thank you for your help!

@John Thedford, What would be a legitimate escape clause? Our offer is conditional upon the following terms:

Subject to Buyer obtaining a satisfactory home inspection report

To be sold free and clear of all encumbrances, by good and marketable title

Subject to inspection and approval of contractors bids by byer

Buyer and seller to pay normal closing costs

Seller to provide buyer with access to property upon acceptance.

I have proof of funds. Just wondering if it mattered who's contract to use. I wasn't suggesting to "get one over" on anyone by using BS escape clauses.

We are looking to put in an offer through a real estate agent. Do we use their offer to purchase contract or our own? Is there any other difference in this deal?

Thanks everyone for all the input. What would I do without BP!?

Hello! We have a multi family property with an accepted offer ( hard money loan) that we plan to house hack for a year and then finance FHA. (FHA is our only option due to past bankruptcy and foreclosure.) What are some viable exit strategies to use? This is our first deal and I'm a bit nervous because the FHA is super strict and this house seems to have foundation issues. (SUPER sloping floors.) The house cash flows maybe 5k a year, I say maybe just because some numbers are still in question, but is in a very family friendly up and coming town with the rest of the house super fixable. Thoughts? Opinions? Inspection is tuesday.

Mark Byrge that would be amazing! Please contact me. We would love to learn from you and see if there's anything we can do for you as well.

Hello BP! My husband and I are aggressively chasing our dream of quitting our jobs and doing real estate investing full time. We have the opportunity for a great triplex in Fenton, Michigan. We need a partner/partners! We are willing to split profits, give a percentage of equity, be your dream partners in real estate in order to get funding to help reach our goals. We are serious, willing to put some skin in the deal, and do the work. What can we do to align with your plans and grow a fruitful long term partnership ?!

How are real estate agents compensated to work with investors? We are looking to add one to our team but have no idea what fair compensation would be to pull comps and visit properties for valuation. It seems like they'd have to be at our whim, to evaluate comps when I need them done.

Thank you so much @Robert Syfert. I appreciate any input I can get my hands on.

THANK YOU! That makes it crystal clear.