All Forum Posts by: Manuel Savorelli

@Carl Fischer Thanks much. This is my first time considering investing in a syndication. In your opinion, is it recommended to have a SEC Attourney review the PPM?

Hi,

Was offered an opportunity to invest as a Limited Partner in a syndication and I'm looking for a SEC attorney in NJ who could advise me on the PPM offered.

If anyone has used someone in the past and can recommend, it would be greatly appreciated.

Sincerely,

Manuel 

Hi,

Was offered an opportunity to invest as a Limited Partner in a syndication and I'm looking for a SEC attorney in NJ who could advise me on the PPM offered.

If anyone has used someone in the past and can recommend, it would be greatly appreciated.

Sincerely,

Manuel 

Hi, 

Was offered an opportunity to invest as a Limited Partner in a syndication and I'm looking for a SEC attorney in NJ who could advise me on the PPM offered.

If anyone has used someone in the past and can recommend, it would be greatly appreciated.

Sincerely, 

Manuel 

Hey board, I'm in the process of purchasing 2 turnkey properties but the appraisals came in on the low side, like $25k below purchase price on each. They're justifying by saying comps used were for non-improved homes while improved homes weren't being sold, therefore couldn't be used as comps. What do you suggest I do without jeopardizing earnest money, etc? Do I have ground to stand on if I try to drop purchase price? TIA

Hey board, been absent for a while. Hope everyone is well. I've been presented with this opportunity to buy a house either $79900 conventionally financed, or $75k all cash. My initial discussion with my realtor was that I didn't think it would be a good idea to tie up all that cash when rates are low, and can lock in for 30 years. I thought I made a valid argument. Her rebuttal was that why not pay all cash, get the discount, then take a HELOC on the house for up to 80% LTV, for 1% cheaper than conventional loan. Never considered that option because I don't think it's wise to have 100% equity. Also, I believe HELOC's have variable rates. Besides these two reasons, can anyone think of anything else, either pro all-cash or con. TIA, Manuel

Thank you both, @Logan Allec and @Matthew Olszak.  I appreciate the advice and will begin shopping around for rates.  My concern was to try to avoid dropping my credit score substantially but you were both able to reassure me that the damage, if any, would be minimal and quite worth it.

Many Thanks!

Hello board,

My question is regarding whether there is an advantage in using multiple companies to pre-qual for a conventional mortgage, like for TK property.  I'm aware that a pre-qual lasts ~90 days  I'd like to get as many leads and options as possible, however, my concern is that I don't want to have my credit dinged multiple times.  Could I give the same pre-qual info to both companies to avoid 2 credit inquiries, or must they each run an inquiry, therefore dinging me twice? 

Thanks in advance 

Thanks guys. 

As an example, I was considering a single family @ ~100k.  I was thinking of raising 20-25k from PML and getting conventional loan of 75-80k.

Would I be able to secure the PML by adding him to mortgage?

Another option could be, what if I raised the full 100k by 4 x 25k per PML?  Would i be able to secure mortgage by %?  Give each PML a 25% lien on property? 

Thanks much. 

And borrow the rest from conventional bank? 

I was considering raising 20-25% from PML and getting the balance from a conventional bank.   Is this one of those cases when I won't get approved due to lack of "skin in the game"?

Would I have a better shot at a portfolio lender? 

I'm trying to leverage as much as possible and come up with least out of pocket. 

Many thanks!