All Forum Posts by: Chris Ellis

It sounds like you just refinanced and do not have much equity established in the property. It doesn't seem like enough to have the chance of pulling equity out or refi. You would have to sell the property to have any cash for the down payment on a multi-family. 

I have a source that will go up to 85% on purchase of multifamily and 100% of rehab. Term up to 3 years. Interest only. Let's get in touch. 

I'll be happy to help you track down the best rates and compete against any offers. I work with traditional and conventional resources. 

You should do a 12 month bridge loan, include the rehab costs so you can be reimbursed on those expenses. Pay interest only. Fix up. Collect new appraisal. And then refinance if you plan or keeping it. There is not a group that will structure a long term loan off the bat and include rehab costs. If you are looking to include those costs then you need to look towards the bridge option. If you want to do long term, then you need to ditch the rehab costs initially and plan on coming up with those through another financing methods or cash, once you own the property. 

What sort of rates do you have on your existing loan? Also what is the principle amount that mortgage payment is based off of? Perhaps there is a chance to restructure, keep the mortgage payment around the same and still obtain the money you need for a down payment. What would you have to lose at that point? Why give up a constant stream of income that is also building equity for you?

Does anyone have a source that will do a cash out refi on a plot of land with a mine and mineral rights? Estimated value around $50 million. Owned outright. Also let me know how much capital you think is obtainable. Thanks.

I am working with a client on a project where the A.R.V. is expected to be around $30 million. I love optimism but he is expecting to be able to sell the property very quickly. I'm expecting it to be on the market for quite some time. It is a single residence. I think the market for that grand of scale has declined a little bit. What are your thoughts?

Thanks Robb.

I just wanted to say hello to the bigger pockets community and hear a little feedback on how to get the most value out of this website. Any experience you have and feel like sharing would be appreciated. Thanks.

The terminology is funny in this conversation. "Hard Money Lender's" bring "Private Money". Anything outside of the bank is "Private Money". An "Angel Investor" is nowhere near the same as "Private Money". Accredited investors act as "Venture Capitalists" and take a percentage of the returns.

I strongly suggest understanding the difference before you try to go after "Private Money" and set the rules. They bring the money to the table so you have to follow their rules. An "Angel Investor" has nothing to do with nor has any relation in the idea of what they do.