All Forum Posts by: Philip McCleary

Use jet lending, they seem very knowledge and will walk you through the process even before you get into it. It’s fairly expensive and only short term lending

Yes - DM me

Most banks will not loan so you have 2 options. 1) just get it in your name and assume a little risk or 2) get a commercial loan into the LLC. There are multiple lenders that can assist, there rates may not be favorable but it's a option

I have ran across the rule but I thought it was 10 mortgages so a duplex or triplex would count as one. There are other financing options available

So BP I have a question for you. I will not give all the details but my portfolio of investment SF properties is currently sitting at 3.3Mil with loans on those properties at 1.9Mil. By the end of 2019 I am expecting the numbers to be 5.1Mil / 3.2Mil.

i will continue secure more assets for 4 years then I will stop and pay down the loans, my end game is to secure a large 30-40Mil apartment unit complex.

Question: is there a way to use my existing Portfolio of SF assets as leverage/collateral to secure a large finance partner to maybe get me into that larger MF sooner?

Yes - I took the hit and purchased (3) SFH's.

@Philip McCleary to add, the first time I whacked my 401k I purchased 3 SFH's, they have all appreciated in value and I'm in the middle of refinancing them and pulling 120k in cash to get more assets. So the money I pulled from my 401k gave me cash flow but has also allowed me to get 6 properties.

Pulling 401k and even with the penalty was a no brainer for me

Absolutely - I have already whacked my 401k twice and picked up several assets all producing considerably higher ROI than the stock market.

That’s awesome John, we all had to start somewhere 

Ah - I would have done a deal with you 50/50 but I’m in Texas