All Forum Posts by: Robert Gunby

Hello, I have a quick question. I have an owner who owns three separate properties right beside each other. They are all on different parcels and individually deeded to the owner. He is selling them as a package. Would it be better to try and get a blanket loan or buy them individually. The owner said he doesn't want to sell them individually but as a package and said it would be a lot of work to get them unified as far as the parcels and such are concerned. The package consists of 2 duplexes which the one needs minor work, and it also contains a house which will need 15-20k worth of work. How would you go about structuring this? He is motivated to sale as he is older and just wants to offload some of his properties. Thanks in advance!

I was in a similar situation and I currently use the repaye program and I have twice as much as you in student loans. I used a portfolio lender and bought a duplex near my hometown without any issues as a rental property, and I am now looking for another one. It is possible!

I bought my first rental in a small town of 14k. There is a large college there as well as a hospital and is about an hour outside of Pittsburgh. The one thing about small towns is that there are many renters because they don't understand or reach out to people about trying to buy a house. The ones that do often live outside of the town. I wanted my first one to be a student rental but many colleges have put up "luxury dorms" and do everything they can to fill them up. College attendance is down across PA which has hurt that market other than about 2 colleges. The ones selling their  student rentals want an arm and a leg so it defeats the purpose essentially.

Jeff Richardson Are you using hard money for the repairs?

Thomas S. Could you explain the dead equity? Putting 100k down is more than 20% which ultimately lowers your mortgage right?

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That is a good thing to know especially coming from you. This discussion is great because it benefits most that need a private lender but aren’t sure what they need to present.

Christopher Brainard I figured. I was just thinking out loud. Granted it depends location but even the best locations aren’t churning out real estate numbers over a 30yr or 20 yr period. There are anomalies but ehhhhhh lol

I was talking to a guy tonight and he said that his investors overseas have money but they want a green card and an easier way to get one (rather than the traditional way of applying and waiting) is to invest in a business. He said that that they love investing in businesses especially the food space because they can make a lot more money than real estate. He proceeded to tell me that if 4 investors invested in a property that they bought for 1.8 million (College Housing) is chump change to what they could do with a Chick Fil A. I threw out numbers and said if you bought the property for 1.8m and each investor (4) put the equal amount for the down payment and you received even 12k (each investor) for three years, and everyone gets their initial money back after 3 years because of the refinance, that’s not better? I am fairly wet behind the ears but I told him if the restaurant business was better than real estate then everyone would be trying to do it as opposed to real estate. Let me know your thoughts. I’m speaking over all in general that real estate is better. Any opinion is appreciated.

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