All Forum Posts by: N/A N/A

Gotcha. Thanks for the reply.

I'm sorry did everyone fall off the face of the earth or am I missing something?

Hi, I'm wondering if there are any banks that are still working with equity loans in Cincinnati. I have two four family properties. I purchased them a bit under market value (one was a short sale). I put 25% down on each of them. They are fully occupied and turning in a positive cash flow of about 400-500/ month. Let me know thanks. John

I own property in a different state and I wouldn't say its easy but if you put most of the right pieces in place it can most certainly work out. Its probably a little less work than being in the same area with the right mgnt. in place. Do the numbers correctly assuming a bad year, work out all loose ends with your mgnt., make sure the building your buying is in low maintainance condition, and if the numbers are still in the black you can proceed to make a move. There aren't many properties out there like this, but I believe if your patient enough things will surface. I don't see any immediate money but 5-10 years down the rode will be the start of your investing ventures with capital in place.

What are the terms for these loans?

My credit is 760+. Have plenty equity in existing multi-family. And have liquid in bank. Building qualifies itself with a positive mortgage.I'm not looking to take a 2nd out on anything either. PM me if you have anything. PP 135K

Sorry about that Jim, I got a little confused from the post regarding who was talking to whom. Anyhow that would be greatly appreciated. Jon as far as a 2nd mortgage goes thats what I'm trying to steer clear of. Although the strategy of trying to put something together concerning my equity a the trust of the seller as well as a legal note might sound appetizing to the right seller.

Hey Tim, Have you come across any 30yr fixed or step down commercial loans that would entertain (2) 5 family units at the PP of 135K each. I had dealt with Silver Hill in the past and they had offered this product about 2 months ago. Just wondering if there are any other loan products out there that compare on a commercial level.

Sure does Tim, I appreciate the input and I'll be sure to contact you if I can't come across anything different. 6.5% is better than 6.675% No fees. Credit score of 760+.

Jon this sounds interesting although I'm unfamiliar with the process as far as cross collateralization goes. It almost sounds like I'd be asking for a private mortgage from the seller (which isn't an option), or a private lender which I've never thought about and feel a little hesitant about. As far as 30 yr fixed rates go is that the best you've seen around lately?