All Forum Posts by: Jason Jones

Often when Hard Money loans (i.e. commercial loans) come into play. In fact, some states require Hard Money lenders to only lend to business, not individuals.

For example, when I rehab a house I buy it at discount using a hard money lender, they also put up the funds for the rehab work, then I refi when the work is compete into a standard 30yr fixed loan. The hard money loan is usually short term, interest only (i.e. 90 days).

No. I purchase in my personal name then quitclaim to my LLC. Techincally some lenders can call a loan due if the title changes hands, but since I'm the owner of the LLC there hasn't been an issue yet.

Yes, thanks... That's what I've been doing. Rehab using hard money and then refi into a conventional 80% LTV. I pulled $4000 out of the first property, $2000 coming from the second, etc.

Slow and steady... If all goes well, I'm going to try and do 7-10 rehabs next year.

Hypothetically speaking, I'll offer you $25,000. Please, explain this process to me.

I'm new to REI, but I've already acquired 2 positive cash flow SFH rentals, using the famous 50% rule, out of state. I was lucky and was able to do this with very little cash out of pocket since I purchased the properties below market value and did conventional 80% LTV.

I keep finding deals, but everybody wants 10-20% down since no one is offering 100% financing anymore. I really don't want to use the cash I have since I would a) run out fast, and b) need to keep that for reserves.

So... how do you finance deals? Where do you get the cash?

Is is all about HML's and Private money? Should I focus only on rehabs so I can build up cash?

Thanks,

Do you mind sharing how you plan to pull this off? No details needed, just give us some info on what you are doing to get a return like this.

I've heard you can also wrap several mortgages into one. For example, when you reach 10 mortgages, refi them into one big mortgage, then start over again. Not exactly sure how that gets structured, but I think some people talk about having a trust setup when they do this so all the properties can be under the trust.

Found some properties that look good. What do you think?

Property #1:
$60,000 PP
$925 rent
$48 NOI (based on 50% exp.)
$140 NOI (based on actual exp. of 40%)

Property #2:
$70,000 PP
$1000 rent
$17 NOI (based on 50% exp.)
$100 NOI (based on actual exp. of 42%)

Anybody know where I can get 100% financing? or a combo of loans to get to 100%?

Thanks,

Found some properties that look good. What do you think?

Property #1:
$60,000 PP
$925 rent
$48 NOI (based on 50% exp.)
$140 NOI (based on actual exp. of 40%)

Property #2:
$70,000 PP
$1000 rent
$17 NOI (based on 50% exp.)
$100 NOI (based on actual exp. of 42%)

Anybody know where I can get 100% financing? or at least 90%?

Thanks,

http://www.rentometer.com is a good ball park for rents.

I'd recommend contacting a realtor or property manager in the area and request a rent analysis. This should give you the vacancy rates, etc.