All Forum Posts by: Mikki McIntyre

Just curious if any banks do no doc loans anymore? and if so, would they do them for an investment property? my husband and I have a hard time proving income on paper, and we will be filing an extension on our taxes for 2017...thought maybe it would be an option to pick up 1 or 2 more rental properties. Thanks in advance for any help or advice

So I have tons of funding at my fingertips and licensed in PA and NJ. However, having a real hard time finding any deals out there for fix and flip and even for buy and hold. flipped a bunch last year, and finishing up some buy and holds,  but struggling to find deals like I did before. anyone else dealing with this? any tips? 

Hello,

I have some family members that are willing to lend me money for flipping and buy/hold deals. What is the best way to structure this? Just do a note/personal guarantee for each property seperately and pay them back after each deal? Or should I form an LLC with them and put the terms of their profit in the operating agreement? Thanks!

Kevin,

Thanks SO much for your advice! I will do exactly that. I appreciate you taking the time to help out someone like me just getting the ball rolling. Thanks! Mikki

I've recently cut ties with my equity partner (50/50) in flipping houses and want to do it on my own. I have a few family members that are willing to lend me a few hundred thousand dollars (for about 10% ROI). However, that will go pretty quick in one or two deals. My long term goal is get more buy and hold investments, but need to flip some houses as well to generate more capital. I have some cash of my own and about 200k in equity in some other rentals I own. How can I leverage all of this to create the most profitable investment strategy for growing my real estate portfolio. I guess I need some advice from seasoned investors or Private money lenders, etc. Thanks in advance

Hello. I’ve done about 6 flips in the last 10 months with a 50/50 equity partner. However, moving forward I’d like to do some without the partner. I️ have a few aunts that have a couple hundred thousand dollars they are willing to lend, but I’d need to understand the private lending process before borrowing their money. We discussed a 10% return and they are happy with that. Any advice on how to structure it all, or resources to find out how to start the process would be greatly appreciated. Thanks in advance 

thanks Bob. I agree that a lot of it is more art  then science. I am pretty confident in my design ideas i would just like to learn how to back up my choices and decisions with a more educated eye.

I am currently working on my 6th fix and flip property. I want to further my education on home design. Obviously I have full time contractors that are doing the work on the rehabs but I need to learn more about redesigning kitchen layouts, lighting, flow, etc. Most "interior design" courses I come across are more focused on decorating rather then actual design. I would also like to learn more about the mechanical processes of homes. not looking to become an expert but at least understand a little more about how it all fits together. I live in the NJ and Philly area so any advice is appreciated. thanks

I created a quickbooks online account for managing the accounting of my flipping business. However, its very confusing to use for this type of business. does anyone have any insight on better ways to manage the accounting side of flipping homes? Any info or advice is appreciated. Thanks!

Hello! First, congrats on your success, and thanks for your willingness to help newcomers.

My husband and I currently own 2 rental properties and want to add more to our portfolio. I am working towards turning real estate investing into my full time job. However, I'm having trouble understanding how to fund these transactions. We both are self-employed ( i own one of the largest apartment leasing companies in Philadelphia so DUH, i should own a ton of properties). We have some private money lenders we are looking into because its difficult to get more mortgages because of debt to income I guess, although we haven't looked into traditional lenders for a 4th mortgage. We both have EXCELLENT credit and both rentals are positive cash flow. My concern though is when its time to refi these rentals into standard 30 year loans, won't we still have the same debt to income issues? will we be able to get refi's for these? I don't know anything about commercial mortgages but is that what we should look into for these? We also flip houses but that is a seperate business with another partner. Any advice would be helpful.