All Forum Posts by: Noah Grayson

Hi Ian, 

Thanks for your post! Shoot me an email and we can coordinate a time to chat or get together.

I look forward to connecting!

Noah

Hi Erica, an improving economy in conjunction with the rise of silicon valley and venture capital joining forces to advance the lending space and capitalize on an inefficient model is what is helping to drive the growth of financing options in the investment 1 to 4 unit space. The recovery of the CMBS market and rise of crowdfunding has greatly assisted as well. Either way, lenders are competing for borrowers in this space. There are plenty of programs out there that don't require any personal financials and just look at the property income or ARV to drive the lending decision. Surprisingly, credit score can be a secondary factor as well. Good luck!

Thanks for the welcome guys!

I am not a lawyer but do own investment property, have tenants and have entered into hundreds of contracts. You should never agree to lease/contract language that makes you uncomfortable. The use of "negligence" in your prospective tenant's language counter is much to broad of a term and leaves too much open to interpretation, confusion and liability on your end in the event of a dispute (which will happen). Any time a business relationship starts off on the wrong foot it never ends well, and this in my opinion, is the wrong foot. The language you proposed is standard, boilerplate and not unreasonable--my suggestion, find a new tenant, no matter how qualified she seems it won't be worth the agitation she will give you down the road. Not to mention, I am not sure what the law in VA is, but in MA where I have property, tenants must have renters insurance and you shouldn't have a tenant unless he/she agrees to get it.

Hi Carlitta. I have owned a number of LLCs and the quickest and easiest way to start one is to do so online through any number of websites that will handle the paperwork and online filing for you for a limited fee. I would recommend just searching the web "how to file an LLC" and pick the highest ranking and most reputable site.

Hi Guys, I am excited to be on BP. I have been in the real estate game (mostly commercial) for over a decade and have worn many hats (buyer, investor, lender). I'm looking forward to being able to contribute my knowledge and expertise to the community as well as learn from all of you in areas that I need fine tuning. 

I currently reside in the Los Angles, CA area but am originally from CT outside of New York (do all CTers say this?). My wife and I recently bought a big fixer upper so I have been wearing the hat of handyman these days and can empathize with all of you renovators and flippers who may have bit off more than they can chew. 

I'm glad to be part of BP and I am looking forward to getting involved!

Hi Erica, fellow CTer here (Wilton). The investor residential, one to four unit, market is very appealing right now to lenders and debt investors which means (believe it or not) there are options for you to get financing even if you don't currently have a W2 job and even if you have limited to no investment experience. I agree with Michael that it's probably better to start out with one property and get your feet wet before jumping in entirely, but either way, drug dens or solid multi :), you will have financing options you just have to do the research. Just know that the less experience you have, the less populous the market, and the smaller the loan amount you are seeking, the more the debt will cost you.