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All Forum Posts by: Robert Galtman

Robert Galtman has started 4 posts and replied 11 times.

Post: Down payment financing for contract sale

Robert GaltmanPosted
  • Investor
  • Chicago
  • Posts 11
  • Votes 6
Quote from @Jonathan Klemm:

I think you are on the right track @Robert Galtman...friends and family are the way to go on a deal like this.  They are investing in you more than the deal.  If you do hard money you are better off just not doing the seller financing and buying it outright.

With a $90k downpayment, what is the purchase price?   

The other option would be to look for a Chicago partner/mentor who has done deals like this in the past.

Thx Jonathan. Yep, definitely trying to build my network in this regard, find other partners. Feel free to let me know if you know of any potential folks. Thx.

Post: Down payment financing for contract sale

Robert GaltmanPosted
  • Investor
  • Chicago
  • Posts 11
  • Votes 6

Seeking input on this scenario. Working on a seller financing transaction where I am the buyer of a SF home in Chicago. I need to put $90k down as a down payment. I’m trying to avoid having to use my own cash as I have $ tied up in other investments right now.

I’m assuming my main options in this case would be: (i) borrow the money from friends/fam, who may or may not want equity in the deal, or (ii) private money/hard money? Any suggestions for private money lenders who could help with down payment financing? As always, appreciate any input from the BP forum. Thx! 

Post: Seeking Investment Partners

Robert GaltmanPosted
  • Investor
  • Chicago
  • Posts 11
  • Votes 6
Quote from @Jonathan Klemm:

Hi there @Robert Galtman - Any reason you are trying to grow your Long-term rentals and short-term rentals at the same time?  I know for me I've found that doing short-term rentals is tough if it's not done at scale and/or treated like business it's likely easier just to do long-term rentals because you'll get similar returns.  Plus, here in Chicago, it's super hard to get your AirBnB license...

With the long-term rentals do you have any specific Chicago neighborhoods you are targeting?  Also, any size and type of property you are looking for?

Any idea on returns and structure of the deal to your investors?

Thx Jonathan. Feel free to DM me if you’re looking to connect about investing and/or know people interested. 

Post: Looking for Real Estate Investors who are looking for deals.

Robert GaltmanPosted
  • Investor
  • Chicago
  • Posts 11
  • Votes 6

Hi Maria - would be great to connect, see what kind of deals you’re working on. LMK. Thx.

Post: Seeking Investment Partners

Robert GaltmanPosted
  • Investor
  • Chicago
  • Posts 11
  • Votes 6
Quote from @Tyler Peddle:

Hey Robert - I know of a few private lenders that could be a good fit for what you are trying to do. What areas of Chicago are you looking to expand your portfolio in?

Thx Tyler. More looking for investors/partners vs lenders.

Post: Seeking Investment Partners

Robert GaltmanPosted
  • Investor
  • Chicago
  • Posts 11
  • Votes 6

Hi all - looking for investors/partners to provide capital to grow my rental portfolio. Have a few LTR's currently and am looking to grow in both LTR and STR. Seeking investment partners to provide capital for down payments while I do the legwork (think GP/LP type). I'm very active/knowledgeable in the Chicago market and have my eyes on a few others around the country (Bozeman, NJ shore, Philly, San Diego). Would love to connect with investors who may be looking for passive partnership opportunities or diversification of assets in RE. Open to suggestions. Thx all!

Post: Mortgage broker recos in Chicago?

Robert GaltmanPosted
  • Investor
  • Chicago
  • Posts 11
  • Votes 6

More conventional loans vs. HM.

Post: Mortgage broker recos in Chicago?

Robert GaltmanPosted
  • Investor
  • Chicago
  • Posts 11
  • Votes 6

Hi all - any recommendations for good mortgage brokers/lenders in Chicago? Ideally with good investment knowledge. Thx!

Quote from @Andy Smith:

@Robert Galtman, how much are you looking to spend. I may well have a lead for a 15% down investment product.

Thanks Andy. Looking at places in $300-600k range. 
Unfortunately yes, FHA loans wouldn’t apply.