All Forum Posts by: Ronl Nichols

@SteveK57

@Steve Kontos - Can you give me a general idea of the strucure/terms of a hard money loan I should be seeking?

@Ruben Guerrero - Thank you. As for partner/private lenders I have exhausted my options with people I know who are capable of investing without asking complete strangers.

@Steve Kontos seller wants out to buy a larger property using a 1031 exchange.  

@Steve Kontos I agree the current interest rate at 7.5 is high. Although my credit is good, lacking the 20% down I figured I would not get approved for a new loan to replace it with. However at the current terms this property still cash flows well.

I should have more info from the seller tomorrow. Thank you Steve I will follow up!

@Joe Fairless? Joe Fairless from the Best Ever podcast?

@Patrice Penda - Well everyone has their own criteria to determine what is a good deal for them. Based on my criteria it is a good deal. However my inquiry had nothing to do with determining whether or not it was a deal.

I appreciate the response but allow me to clarify. I am looking for advice on master lease agreements, sub 2's and owner financing. Would you happen to know how to structure those around an assumable mortgage with very little out of pocket?

Hello Everyone,

I have a pocket listing for a 20 unit apt complex. I have done my analysis on the property and discovered that it is a good deal. I would like to make an offer but not sure on how to do so.

I do not have 20-25% liquid to put down. I am looking for creative financing advice. Asking price is $639,900. There is debt on the property for $400k which is assumable at a 30 yr am/7.5% int. 

Any advice would be greatly appreciated.

Thanks

@Abraham Anderson Congratulations!

Would you share with us how you overcame some of the bank requirements for obtaining financing?