All Forum Posts by: Tanikka Myers

My Partner and I are from Philadelphia and are looking for a HML that does not require minimum amount or at least will lend under 75k... Which does not exceed 4 points..

Thanks in advance!!!

Tanikka 

My Partner & I are located in Philadelphia, and we are looking to attain a Business LOC for our company... We were looking for a LOC that did not require any seasoning that charges minimal/no transaction fees per draw and low/no one time processing/financing fee. Thanks so much!!

Tanikka

My Partner and I are from Philadelphia and are looking for a HML that does not require minimum amount or at least will lend under 75k... Which does not exceed 4 points..

Thanks in advance!!!

Tanikka 

Evening BP-ers!

My Partner & I are located in Philadelphia, and we are looking to attain a Business LOC for our company... We were looking for a LOC that did not require any seasoning that charges minimal/no transaction fees per draw and low/no one time processing/financing fee. Thanks so much!!

Tanikka

-Both my partner and I have 750+ credit scores and created an LLC. We are looking to acquire a duplex/triplex and are seeking funding advice.

-Is it better to obtain financing through a traditional mortgage, transferring the deed to the LLC or purchase under the LLC? If we decide to go the LLC route, what is the best way for us to obtain funding as a new LLC?

-Who are some of the best Alternative Lenders/ Private money lenders in Philadelphia, PA, or out of state that will lend to Philadelphia Properties? 

-Who are some investment friendly mortgage brokers for PA?

Thanks in advance for all advice! 

Thanks so much for such detailed feedback from each of you: @jerryw , @trevorburns , @robertgarganese , @joshuaschneiderman , @ashleywishinski @perrysigmon , @mattmotil , @justinr @chrisseagondollar @theojones (I'm SUPER new to Bigger Pockets, so bare with me!)  We took the Plunge and did it!! I'm excited, we are both excited, and I think that this is the beginning of a great partnership... I shared everyone's feed back with her and she even listened to the pod cast 109 that was suggested! (thanks again for that!) and we are pretty sound in our decision.. 

I did have another quick question that maybe someone knows the answer to... If we were in fact to purchase a property using a Hard Money Lender to purchase one of our buy and holds (bc a lot of them are not retail but below market and we would want renovate it and then place tenants),  could we re-fi right out into a mortgage and avoid putting down a down payment... just curious? We are exploring all avenues of financing especially since we are official now, and will be able to move soon!

My partner and I have been "off paper" partners for almost a year... Now we are ready to make it "official"... Our current focuses in real estate are buy and holds and wholesaling. Our primary reason for getting the LLC is to ensure we can get hard money financing, however, I am having second thoughts... We have been researching this for a while, but the only TRUE benefit to LLC-ing is that we would be able to get hard money financing. Considering that we are not getting into rehabs currently, HML is a great option to have, but is it necessary? We both have 740+ credit scores, one of us has a higher debt-to-income ratio, but the other doesn't, we have a decent amount of capital between us, so qualifying for a loan in general isn't the challenge, we just want to be smart. Smart with the minimal amount WE put out of our pockets (both in purchasing and in operating), smart with the financing (making sure it makes sense and is the best way to buy) and smart with our accountability. We wanted to purchase multiple properties at once for buy and holds (2-3 at the most), but is LLC best, or should we act as "co-homeowners"... We were trying to avoid the 20% down payment for investing, but it seems inevitable. All advise from you wonderful vet investors are welcomed... I hope I gave enough information/background to understand our scenario. Thanks in advance!

Tanikka

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email came back returned @Samuel Marshall