All Forum Posts by: Shane Ward

Very helpful! Thank you.  With the learning I've been doing that was the most important piece for me.  I have access to people with money I just couldn't wrap my head around how to best structure a deal. 

@Shane Ward Anyone? I have read a book on private money, listened to podcasts etc. and the one thing that you never get is how to structure a PM deal. Some examples for structuring a BRRRR deal with a PML would be great. Let's say I found a property with a purchase price of 35k that needs 50k in repairs and an ARV of 125 and the property would rent for $1300 to $1500. I have the 80k but would rather use OPM to do the deal (I would actually like to do 3 of these at once). Any examples would be helpful.

I am looking for the same answers. Can any of you guys give some examples of the terms on a private money deal? I have just finished three sfr brrrr deals using HML and my own cash for one. I have a really good deal flow right now and would like to approach a few PLM's but I'm not sure how to structure the deals to intice the PML.

I have 3 properties that I have rehabbed and rented and am now looking to refi. i am getting $1200 a month on all 3 properties. The appraisals just came in and are as follows

A). $112k,B). $112k and C).$117k. I owe $52k each on A and B on a HML that matures 8/1. I do not have a loan on C (all cash). I used a loan co. that specializes in rental property refi's. Thier numbers are as follows: 8.25% 5/1 and 45k in fees for all 3 properties. I need to pay back the 104k by 8/1. Do I have time to get these loans processed again? Can I use the same appraisals? Who is going for these terms?

@Gabrielle Simmons I am working on the refi for that deal and will keep pushing to do more.

I am marketing a couple of rental properties and have several people interested. The problem is that the people I would like to rent to do not qualify individually but do qualify as a couple. Should I keep looking for better qualified candidates or would you take them as a couple? They have a 9 year old together but are not married.

I did my first deal using a HML. I knew that's what I wanted to do so I had all of paper ready to go. Fortunately the deal I found was so good the HML didn't make me go thru the rest of the qualifying process. They gave me POF letter and applied the $1000 good faith payment that I made to the 10% downpayment. We closed in under 10 days.

Tenant says that Lady Bugs are driving her crazy. She wants to call an exterminator and pay for it. Last couple of years I've had them and they go away. Any thoughts?

Thank you

@Michael Plaks Thanks for the advice, I would never have thought of that.