All Forum Posts by: Pete Sailhamer

Thanks @Account Closed.  Just to clarify, Bradley when you said you only handle first position, are you saying you don't allow second mortgages?

Are there any recommendations for a good lender in Peoria, IL?  

I'm looking at buying an apartment building using the bank to finance most, and private lenders to finance a good portion of the down payment.  What banks are open for additional liens on the property after their 1st position?

Thanks.

@Lane Dohl I use Broyles & Company CPAs, LLC out of Middleton, WI and I am very happy with them. Very knowledgeable of LLCs and real estate.

Thanks for the recommendation @Brian Conne.

@Bryan Caprioli I'll give you a call.

I'm buying 20 units in Waupun, WI (about 60 minutes north of Madison and 20-30 minutes south of Oshkosh and Fond du Lac).  

Looking for a recommendation for a good property management company.  Preferably a company close by, but doesn't have to be. 

Thanks!

Okay, thanks @Jeff Rabinowitz.  I'll look into that.

Thank you @John Thedford, @Don Harris, and @Bill Gulley.  I appreciate the tips.  I think I'll try the Bill Pay service with my bank and see how that works.  Thanks for the advice Bill.  Yes, we keep it very simple with Promissory Notes and Mortgages for each property, but definitely something to be careful about.  

Thanks @Max T., I'll look into that.

Thanks @Don Harris, but I have several lenders and will be making monthly payments, so wiring will be a pretty expensive option.  Any other ideas?

I bought a property using private money, and I would like to electronically send the monthly payments directly into the private lenders' bank accounts.  I would prefer not to use a third party site (ie Dwolla, etc) where they have to sign up for an account.  I just want the money to show up in their account, and make it as easy as possible for the lenders.  I have the account and routing numbers for each lender.

Any ideas on how to make this happen?