All Forum Posts by: Stanley Tong

@Philip M. thanks for the reply Philip! Hard money seems a little risky for me, at my current experience level, but no doubt down the line it is a great option!

@Matthew Porcaro Wow Matthew thank you for the in depth information! I had no idea I could look up lenders like that. I will definitely reach out to some and ask them plenty of questions!

@Paul Welden I hadn't heard of the Fannie Mae one before, and I didn't know there were multiple live and renovate loans. That provides more options! Also, the 75% tip is a game changer. I never knew that, but it opens some more doors too.

Thank all of you for contributing! I learned a lot from this post.

@Scott Wolf Thank you for the contact! I'll give him a shout

@Rob Lee Good point, thank you! I know there are some limitations, but I will see what he can give me. Do you recommend any lenders in the area?

@Ryan Husser Good info! I appreciate the response! 

@Bruce Lynn Yes, good point! I guess I will have to get comfortable with using hard
money for these types of jobs. Do you have any you recommend? I have
spoken with Lending Home for hard money.

@Bruce Lynn@Bruce Lynn

Good point! I've never used private money before. Do you have any recommendations on how to source that type of funding? I see there are guides available, but I am not sure if those timelines will be fast enough to get set up for this property.

Hi Ryan! Thank you for the response. The house is kind of like a construction zone. All of the rooms need to be completely redone. I guess it sounds like private money may be the better option for this. 

Hi all, I am trying to buy my first home in Dallas as a duplex to live in one half and rent out the other. The house I found will need about 100k in work though, but I want to take advantage of a low 3%-5% down payment by living in it.

Are there any options to lend for this? Is it typical to use a standard mortgage lender for this type of purchase for a first live in home?
I am talking with a lender, but I am not sure if he can lend with the amount of work needed.

Hello, I am looking for markets to invest in from out of state. I know some lenders can lend on ARV, but how common is it to have lenders who do that? Does anyone know of any lenders in good cash flow markets that do that?

Hello all, I am looking for a smaller multifamily property management company that manages 200± unit apartment complexes in the DFW area. I know many of the companies that manage in this range are usually larger corporate companies, but I was wondering if there are any good quality smaller companies who are also in this space who don’t necessarily have as large of a corporate structure as the others.

Does anybody have any recommendations?

@Jorge Gonzalez Awesome. Thanks for the info!