All Forum Posts by: Remrie Arrie

This post is for general information. I'll have to research blanket loans some.

The trick here is keeping the approval subject to individual finances. In this case my dad operates a trucking business that the past couple of years reports a net (phantom) loss which makes it difficult for him to appear capable enough of meeting the financial responsibility of paying his debt service.

A search didn't come up with any related topics.

Do traditional lenders ever lend on more than one property and draft it as a single commercial loan on both properties when they total 5+ units?

If I can detach my partner from direct financial "proof"/liability, then that will help improve our ability for financing. I am just unsure if this is ever done.

We have two duplexes, and one fourplex. All of them are seller financed by the same previous owner, and if we can get a single lender to refinance with, that will greatly simplify everything.

Hi, everyone. My name is Remrie. It is nice to meet you and I expect great things to happen as a result of BP. I have chimed into the podcasts for a while and you can see on my profile that I've been a member for a decent amount of time already. I just haven't taken the time to post and wanted to say hi!

The gist of who I am and my background can be summarized as this: I am a male to female transgender, born and raised in poverty in small town USA. Grew up as a "special ed" student grades below everyone else. I moved to Los Angeles, CA to peruse zoology, my grades failed and I picked up truck driving (OTR 53' trailer) and for much of that entire timeline starting in 2008 while living in Los Angeles I figured real estate might be the best means for me to achieve my own financial and personal goals. And with an ounce of excess, share the wealth and education with anyone who has a seemingly "bad" life and/or childhood. I'm sure we can all agree the U.S education system bar none sets no bar for kids to shoot for other than one with a beer and a line of cocaine.

All in all I got a partnership going with my family which is functioning well and we are up to 8 units total in Indianapolis, 50% LTV seller finance at 10%. We have 50% occupancy which is low but it's our break even point and we have enough resources to bring it up to 100% relatively easily. The properties are about to be deeded over to their respective LLC's.