All Forum Posts by: Nicholas Sheridan, Jr.

Thanks! @Tammy Richards

@Vivian Chen Thanks! goodluck on your journey

@Garrison Ushery just jump in! Start with Who What Where When Why and How and then you just gotta start looking at deals. You wont be prepared for everything

@Nicholas Mann Pretty solid ! I did have to swap out the water heater. the only other repair I did which wasn't needed but I wanted to get it done was replace the garage door. I did some smaller preventative maintenance type work as well

@Carmen Alvarado no

@Carmen Alvarado extremely simple. Had to fill out a quitclaim deed (2 page paper) for the title company and send them a check for $29

Thanks ! @Yazmin Diaz @Alexis Guini @Lane Kawaoka @Adrian Smude @Aidan McGee

@Ryan Nguyen Did the 9 hour drive there for the inspection and drove back the same day with my wife (yes we are still married haha). Then after closing drove there again for a weekend to do some rent ready items. 

@Jeremy Bourgeois Thank you, I actually just did a google search and portfolio lenders came up as good candidates for what I am looking for. I am not trying to be a slacker but if you don't mind messaging me a few contacts for porfolio and private lenders I will be sure to mention that your referral.

I have such a headache trying to figure these questions out, any help would be greatly appreciated!

Scenario:

• Duplex purchase price $400k
• Down payment 25%

Questions:

1. I use hard money with a rate of 10% int with 10% down. If the duplex is turn key and doesn't need much in terms of rehab then how do I refinance after a year or so? If I don't have a way of adding value and building equity like in BRRRR then I am having a difficult time understanding how an investor would refinance to a 25% down conventional loan and lock in a good rate unless they sat on the property until it hit 25% equity.
2. My thinking is start an LLC, own it 100% then have investors put money into the LLC's account. I will pay back the investors with a fixed interest rate. Then I can use these funds as a down payment for a conventional loan. Question is, do only hard money lenders lend to LLCs?