All Forum Posts by: Sthefany Lamoureux

Hey guys,

I'd really like your opinion on this. I was formulating my own questionnaire of questions to ask FSBO sellers, and an idea popped in my head that I'm not sure if it's something you do or not. When talking to FSBO sellers, should you ask if anyone else has looked at the property/put in an offer? What about with regular agent-listed listings? Basically, I would like to know how you can tell if there is competition for a property, whether it's agent-listed or owner-listed. This may or may not be a silly question.

Thanks!

Sthefany Lamoureux

Thank you so much for your input! I'll heed your counsel and check them out @Jason Turgeon and @Jeff Forsman

@Rob Gifford Thank you for the recommendation!

@Alex Bekeza Oh okay, thank you for answering my questions!

@Mark Safrin

@Mark Safrin Okay, thank you for your input!

@Mark Safrin Thank you very much for all of the information you provided. All of what you said makes a lot of sense. Also, I didn't know that Hard Money Loans that were long-term existed. That's really interesting to learn!

@Alex Bekeza Thank you for explaining all of that! I didn't know the difference between Commercial vs a regular Residential loan. I'm glad someone mentioned it on here so it came up in conversation. I'm assuming then that Commercial Loans don't have a limit like conventional loans do, right?

Also, just for the sake of understanding this. When it comes to refinancing (whether it's a HML or a regular or Commercial Loan) is that also based on things like DTI ratio, FICO, income and other things? Or is it different at all when you refinance the different kind of loans?

Again, thank you both for responding! This is super informative.

@Wayne Brooks Thank you for responding. I understand the conditions in which a HML should be used. I would just like the information I was seeking as reference for later on if needed. Also, aren't commercial loans for commercial buildings? What happens then if I don't want to go to commercial?

Hello all,

I've been trying to learn as much as I can about creative financing. Right now, I'm currently reading @Brandon Turner's "Investing in Real Estate with No (and Low) Money Down" -- it's an extremely informative and well written book, btw -- and I'm at the part that it's talking about Hard Money Lenders and how you can use it for a Buy & Hold. 

I understand that you eventually reach a limit of how many conventional loans you can have, which is why you would turn to HML eventually. But, I was wondering if you are always able to refinance a hard money loan? Or is there a limit like there is with getting conventional loans in the first place?

I don't understand much about the limitations of banks and the amount of loans you can have, either. I just kind of know the concept. So, if anyone would like to explain that bit to me, too, I would greatly appreciate it. Though, if not, I'm sure I'll eventually run into it in my research/studies.

Thank you!

Sthefany 

Congratulations! Thank you for sharing this, it's very informative to know how you went about the process and calculations for acquiring this deal. Keep growing.

 Thank you so much!

Thank you so much! Those tips will most definitely help me. I've been listening to the podcasts and am now on Show #11 (I've got a looong way to go to get caught up) and they've had some amazing information.