All Forum Posts by: Richard Olshove

Hello BP experts!

Experienced investor new to investing in the Ocala and Palm Bay areas for investing and am looking for recommendations for local banks who can carry portfolio loans and support commercial financing.  Thank you in advance.

Richard

Hello BP experts!

Experienced investor new to investing in the Charlotte NC area investing and am looking for recommendations for local banks who can carry portfolio loans and support commercial financing.  Thank you in advance.

Richard

@Tia Wilson I second the option to purchase a duplex property.  There are some very nice duplexes, even new construction in the Houston area that are available for a decent purchase price and good returns.  Even better returns if you can do a low down!  I would highly recommend the duplex path since you can buy a great property in a B+ area.

@Curt Smith,

Very interesting and I like it!  Do you find that putting the fees boxes you in if there is a damage that is covered in the list but actually costs more than the list to repair it?

Could you share your example repairs costs lists with me, I would be interested in seeing that you have on there, please PM me directly.

Thanks

Richard

@Bryan Richardson I will be purchasing in my name but for true commercial money I dont think it would make a difference since I would be above the 10 loan limit and hence not compliant for Frannie/Freddie guidelines.  

@Bryan Richardson Yes I am going after class A properties around $170-190K for purchases.  I hope to get some leads soon!  Have you run across any that you think I should reach out to?

Hey BPs, I will be at my 10 loans early this next year and am looking for referrals to smaller banks for some commercial lending for purchases in Indy.  Recourse or non-recourse is both good but would need to be ok with more than 10 loans on the books already.  Any referrals you can provide would be appreciated.

I greatly prefer to support the local economy where I am investing so local banks is definitely a preference to build the relationships up.

So does noone have experience with this?  Even with a property manager I would like to see the condition of my property periodically in a nice property inspection report.  Here is an example of someone who does this in the Tampa FL area as an example.  https://www.onsightpros.com/se...

@Bob Prisco Not sure if you saw my post earlier, no not for pre purchase inspection.  For rental turns since I am not in the area and it makes it easier for not only seeing the condition of the property during tenant turnover but also makes the deposit disposition easier.