All Forum Posts by: Shay Reddy

I do have businesses set up for this and am contemplating moving the properties into the LLCs, trying to figure out if I should do this after the refi ... Do commercial loans typically do cash out refis?

So maybe I can acquire 3 more and then when buying the 11th property ask for a commercial loan for all 11 ? that way i can possibly maximize the process ?  I am planning on using heloc funds for down payments. And I am trying to find a good way to do this ...?

I have this situation below - 

• The below chart is from various properties. 
• All are on 15 or 30-year conventional loan at 4-ish % It's going great everything is cash flowing. 
• As you can see there is too much equity - based on a 30% down on each property I should be able to cash out a good amount of equity and go buy something and repeat. 
•  I have more than 4 mortgages (total 7 + Primary + HELOC) 
• 1 Bank says that I cannot even Refi any single property and would have to do a commercial loan. 
• My problem is that the current rates are good , very good cash flow , but I need to cash out equity either one by one or as a whole - so I can buy more. 
• What do people typically do in these situations? 
• What questions to ask commercial lenders ? 
• Any thoughts on slicing and dicing these options ?

Sorry maybe I should start a new thread ... (I will )

I have this situation below - The below chart is from various properties. All are on 15 or 30-year conventional loan at 4-ish % It's going great everything is cash flowing. Unfortunately, as you can see there is too much equity - based on a 30% down on each property I should be able to cash out a good amount of equity and go buy something and repeat. I Called a few banks and they said that I have more than 4 mortgages (total 7 +Primary + HELOC) and that I cannot even Refi any single property and would have to do a commercial loan. My problem is that the current rates are good , very good cash flow , but I need to cash out equity either one by one or as a whole. What do people typically do in these situations? What questions to ask commercial lenders ? Any thoughts on slicing and dicing these options ?

I am going to have one the first week of each month preferably on a thursday or Friday based on availability of facility and attendance by investors. 

Shay 

Hi,

 First of all thanks to the people who attened the meetup  last time - I will try to do it in the first week of each month - based on when the facility is free.  We had a general meet and greet and exchanged war stories ! It was fun !  We also really didnt follow the format outlined but we shoud try to get on some sort of format kind of like the podcasts so that we all get hte most out of the meetup. Also I think the newbies will always be more than the seasoned investors so we need to make it as worthwhile for them as well !  Open to all ideas and suiggestions !   I think there is a different meetup at Tommys pizza  on 22cnd.  

I am trying to lock down a date that would work for everyone and come up with an agenda - I heard of another one at tommys pizza on 22cnd

I think we have 5  so far  for tonight hopefully a few more 

Go BP columbus Ohio  !!