All Forum Posts by: Raya Peterson

@Bryan F.

Hi All!
I am looking to invest in Fort Wayne and would like to make connections in the area. I live in Chicago and have investments in California and Illinois. I visited Fort Wayne this past weekend to research the neighborhoods and get a feel for the market. I am excited to get started investing here because it seems like a market where cash flow is still realistic in 2024. I would feel even more confident if I could build a network of other RE investing pros. 

Can you suggest ways to network? Basically, I need a whole team: a real estate agent, a loan broker, possibly a property manager, etc. I am looking for buy-and-hold long-term rentals that require only minor fixup, if any. Because I'm prioritizing properties that will be rentable without much fixup, I would like to network with flippers too, and I would like to find off-market deals. 

I look forward to meeting you all and making deals happen!

Seeking Experienced Multi-Family Broker in Orange County, CA. Looking to invest in 4-plex specifically. Off Market deals a plus. 

I'm working on buying property in that area. I have interviewed Letts Property Management. So far I'm impressed. Still haven't actually purchased property in the are though :)

I think it is because they are stacked one on top of the other and each residence is a whole level of the building, whereas a duplex is usually side by side. I think its kinda charming local vernacular too. 

Edith, How is your project going?

Thank you, Scott.

I was thinking of either asking for this, thoughts?

I would love your input on creative financing options!

First the facts:

Borrowers / Buyers:
Buyer 1: 740+ credit score, Stable long term employment, $75k income per year, foreclosure in 2009 (7 year mark is January 2016)
Buyer 2: 740+ credit score, Self Employed but will be 100% on W2 in 2015, $75k+ income per year

Seller:
Flexible, Motivated, Owner Occupied, has equity of about $2 million

The Property:
Duplex
Newport Beach
$4.1 Million
We would owner occupy
Income property that would cashflow

Finances:
Seller is willing to carry 25% as a balloon payment in 10 years
Buyers are looking to finance 75%
Buyers could put as much as $200 k down but we would rather figure out a way to use the seller carry 25% as a down payment of sorts
Seller has a loan of 2.3 million at 3.3% that is assumable
No RE agents - attorneys only

Given these circumstances, do you think that we have any options for financing, creative or otherwise? I am not looking for an official "send to underwriting" type of thing, I am looking for realistic feedback as to if there is any way to structure this deal so that we would be able to purchase this property. I have a meeting scheduled with this seller tonight and I would like to walk in with some options (if I have any.)

Thank you for your expertise!

Creative solutions needed!  So I wanted to run a scenario by you all to see if you knew of any realistic solutions in this case. This one might require some creativity, so please let me know if you have options that I haven't thought of. First the facts:

Borrowers / Buyers:
Buyer 1: 740+ credit score, Stable long term employment, $75k income per year, foreclosure in 2009 (7 year mark is January 2016)
Buyer 2: 740+ credit score, Self Employed but will be 100% on W2 in 2015, $75k+ income per year

Seller:
Flexible, Motivated, Owner Occupied, has equity of about $2 million

The Property:
Duplex
Newport Beach, CA
Asking Price $4.1 Million
Buyers would owner occupy
Income property that would cashflow

Finances:
Seller is willing to carry 25% as a balloon payment in 10 years
Buyers are looking to finance 75%
Buyers could put as much as $200 k down but we would rather figure out a way to use the seller carry 25% as a down payment of sorts
Seller has a loan of 2.3 million at 3.3% that is assumable
No RE agents - attorneys only

Given these circumstances, do you think that we have any options for financing, creative or otherwise? I am looking for realistic feedback as to if there is any way to structure this deal so that we would be able to purchase this property. I have a meeting scheduled with this seller tonight and I would like to walk in with some options (if I have any.)

Thank you for your expertise!