All Forum Posts by: Account Closed

@Daniel Flesher I would like to connect with you as well. Looking for an architect in Philly area. 

Question for seasoned developers. My partner and I develop in the Los Angeles area and we are currently building our first project on hillside downward slope. With that said we looked at another lot today but it is building uphill. It would require to excavate the land and build a retaining wall. I know I am completely over simplifying this question and it should come with lots of details. But for the sake of the time I am keeping this incredibly simple. Which method is TYPICALLY less expensive - Downward slope development or excavate for uphill development? Any input is appreciated. Thank you!

@Phil Hong Thank you, and would you mind sharing with me his contact information so I can reach out to him? 

Good late afternoon to all my Los Angeles people! 

I am sure I am not the only one who is pondering this...

Which small bank whether it be credit union, community bank, or private lender have you found to give the best investor friendly programs geared towards SFR's? I will be inquiring about all programs offered to best leverage my money, but my main focus will be on REFI's for 2-4 Years.

I will be searching today on google and calling around. If I find a lender that I like that does not end being in this thread I will post my results. 

Thanks! 
Side note - weren't we supposed to get hit with El Nino 2.0? Instead all we got was a humid heat wave? 

Also intrested in if you do find a crash course of City Zoning crash course. 

What I do is when I find a  possible house that I am intrested in, I just call the planning department and over the phone will let me know basically what I can and cannot build. 

But, They are a pain in the butt to try to get a hold of. 

@Jean G. I want to thank you so much for the recommendation, that is exactly what I have been looking for in B2R. 

@Christopher Brainard thank you for the recommendation of Meadows Bank I will be giving them a call shortly to compare products. I do not mind parking some of my money there as long as they give me a great rate for my investments. 

@Franklin Romine I completely understand and that is the plan for the future, yet these last few years because of different situations I wrote off whatever the IRS allowed me to write off.

As I woke up this morning I realized I did not post some important details. 

The Loans are because I have not shown enough income on my returns for the last two years. And my debt to income ratio is too high. 

I have enough liquid asset's to make any lender feel comfortable with giving me a 200k loan. Well at least in my opinion I feel like It would make them feel comfortable. 

My credit is also in the 700+ 

@Brent Coombs There are many reasons why I like the condos. I should state I never intended to keep any rentals until I have snowballed my liquid into a certain amount. But, the cap rates were too good for me to pass up and I kept getting really good deals on these condos. I am averaging 10% cap rate on all three condos. (One is around 8%, another one is 11%, and the other is 10%) Area is good enough to get good tenants in constantly. 

@Michael S. Helton thank you I will follow up with him. I apperciate the referral. 

Ok I just wanted to make a catchy title but I do have three problems, Well more like good problems to have...

I have three condos in Las Vegas that are all paid off in cash. They are worth around 75k.

My problem is this, because of reasons I will not get into I would not be able to get a loan in the conventional sense. No not bankruptcy, short sales or anything big. 

I would ideally love to take advantage of these low interest rates and implement the strategy of buying properties all cash, fixing them, and then refi as long as the cash flow makes sense. 

So my question is this, has anyone, or heard of anyone using smaller banks or credit unions to get financing on residential homes that lend in house? OR even commercial lenders who are giving favorable interest rates and would be willing to work with as I acquire more than four additional properties? 

I buy in CA and Nevada. Any leads or recommendations would truly help. I am at the point in my real estate investing career where I need to start leveraging my money to really take my business to the next level. 

Thank youuuuuuuuuuuu

Thank you everyone for your thoughts, opinions and point of views. I always appreciate getting feedback from BP!