All Forum Posts by: Regina Moffett

When investing in multifamily with a hard money lender, will the appraisal and closing cost be covered?  If not, are there  any suggestions on the process to receive help in this area? 

@Grant Rothenburger thank you, to keep from limiting myself, im open to small or larger sized properties.

@will g. thank you so much, it just gets hard to continue to put up the facade in front of your family when something is, actually, mentally breaking you.  thank you again for your advice.

Greetings BP,

Just curious to see if there may be any multifamily investors that are opened to assisting with the execution of a purchase through guidance and help for a portion of the equity in the property.  This is year 3 for me without any success.  I don't lack the confidence, i believe it may be the know how.  I am very willing to do any and all leg work, even willing to manage property if it poses a problem and NEEDS to be done.  To say paralysis of the analysis here, would be an understatement for myself.  Drafting and revising so many loi's, binding and non-binding loi's, poc's and several different other documents.  Countless hours and sleepless nights attempting to change the life of my family over the past 3 yrs,  and just thought maybe I just need to reach out to someone.  Am hoping this post doesn't break any of the guidelines for BP, for this would not be my intent.  Kindly thanking everyone.

gina

hi karen, maybe pay them a few bucks to relocate, just may turn a rude or ugly situation into an act of kindness, this is only my opinion.

thank you @marc c.

Hi Michael, Happy Thanksgiving, the lenders aren't getting anything wrong.  I'm wanting to make sure I get it right.  The investment is multi-family (60+ units) currently with about 80/85% occupancy.  I would like to go into better detail with it, but im not sure of how much info i can put on BP, im new to BP, dont really want to break any rules here.  I'm going to see if I can send you a PM.

...hard money lenders that do not consider your credit score or conventional lenders that WILL allow you to use the equity as the down payment.  I see this informtion while doing my due diligence, but this information seems to be a myth.  And with being honest and straight forth with this being the start/beginning of my portfolio, its as though you are spraying some 'run b-gone' spray as you come to realise that no one ( lenders ) really wants anything to do with the beginner.

Even with the property already turning a huge profit, the lender still has a raised brow.  Am i dreaming too big?