All Forum Posts by: Paige Corsello

Hi Devin, 

They have plenty of experience. Need some more statements from them but liquidity shouldn’t be an issue either. Is this something I could co-broker with you?

Hi BP, loan officer (broker) here. I recently came across an opportunity to help a builder with their financing. They have a $5mil builder loan for a 20 unit townhome community they are looking to refinance. I’m looking for one big commercial loan that encompasses all the units. Has anyone successfully originated or got paid on something like this? I have a few commercial bank contacts, but concerned they may just cut me out of the deal. Willing to exhaust all options as this is a big fish. 

Hi Bobby, the majority of my business is in Pittsburgh, PA and Florida 

Do any brokers out there know of any lenders who offer 80% TLV on a noo SFH cash out refi? I see a couple brokers offering it, lots of clients asking for it, but out of 30 some investors on my roster the highest I can do is 75%. TIA

 You didn’t answer any

Hello, I'll try to keep it short. Essentially there is a property management company that finds investors to pay for the build of duplexes that are then sold for 30%-40% more than the cost to build. Appears to be a well oiled machine in terms of the construction and sale process-cookie cutter 1200 sq ft properties. A family member of mine decided to invest and just closed on the lot. He will be paying cash for the entire thing. If all goes well, I am considering investing. This side of real estate is entirely new to me and I want to learn as much as possible from those more experienced than I. For context, I do have a decent grasp on the real estate market and financing as I have been a mortgage loan officer for 4 years now. Alas I do not know everything lol. Some questions I have:

-What is the capital gains tax situation on something like this? Say I build, sell, and use those profits to build again. Is this where a 1031 comes into play?

-Thinking long term, is this something I could scale to make my primary source of income? The builds generally take between 4-6 months...is it realistic to think I can build and sell two in my first year?

-General guidance for other factors I need to consider???

TIA!

Hello, 

I am purchasing my first investment property in a college town. It is a 3 bed 2 bath I will be renting out each room. I close on the property this week (Feb 8), and will begin repairs. It doesn't need much, everything should be done within a couple weeks. I am aware most leases coincide with the academic calendar, however, I am hoping to have it rented by April/May. How do you recommend advertising the property during this time period? Do I market to summer school students? Or to fall semester students? If someone wants to rent for the summer but NOT the fall, how would these leases be structured? The goal, obviously, is to minimize vacancy. I understand I am purchasing at a less than ideal time. Any and all advice is greatly appreciated!