All Forum Posts by: Shaun Morgan

@Bo McMahon

Thanks, I guess I just need to talk to local banks to figure out what terms they offer.

@Chris Pflum thanks Chris, I’ll have to start talking to the local banks here.

@Philip Mccleary thanks, I guess because I’m not at that point yet it hasn’t occurred to me that that is necessary.

I've been looking into how to jumpstart my business and I'm looking at every type of loan to refinance a property. I hear a lot of people say that they BRRRR with a commercial loan, but the more I look at it I can't figure out why anyone would want to get a commercial loan. The terms seem worse in every way. Higher down pow net (if not refinancing), higher interest, often adjustable, shorter life of the loan, same cash reserves requirements at least, etc. Am I missing some advantage?

@Andy Rumple thanks that is a great idea

@Jim Pellerin thanks Jim, those are great suggestions.

I’m about to have a deal dropped in my lap before I have built a buyers list as a new wholesaler. Do you have any tips for how I can find buyers quickly?

My wife was a realtor and she says that signing a per property agreement is the best way to go in this situation. It protects you from a bad situation if the deal goes bad and it protects the realtor doing that deal so they can get paid. It is a win win for both. You just have to sign more contracts with them since it is a per property agreement.

I have someone in mind that could make a great potential private investor. I’m wondering what type of information I should prepare to present to this person as well as general tips for approaching a private investor. Thanks!

@Judy P. I have this company for my primary residence (it came with the house as gift from the realtor). It has made repairs really cheap for me ($75 for any repair). I, however, agree that it is not good long term. Just save the money. I have had a good experience with them as a primary residence though.