All Forum Posts by: Darryl Dahlen

No worries. The important thing is that Chris and I are communicating.

Thanks for thinking of me Loc. Definitely appreciated.

I don't have enough information to say if this request has merit, but I will say that while it is possible to finance foreign nationals, it isn't easy.

Reason being is that often times foreign borrowers have no physical presence here in the states so they lack American tax returns and credit. This obviously is an issue since most commercial loans these days are full-recourse and require the aforementioned items. Especially, loans with small dollar amounts which I expect this one would have.

However, if the LLC is an established one that can show financials it makes obtaining financing slightly easier. Also, having an American bank account, reasonable expectations of the LTV, and in a perfect world, some US-based collateral would be ideal.

There are a lot of other questions I'd like to ask you, so if you're open to talking about this further shoot me an email and I'll contact you.

You should of course seek the counsel of a lawyer to know for sure what can/cannot happen, but I don't the "contractor" has any real recourse here since there is no signed agreement.

Not only that, but he probably won't want to admit that he was being paid to do work if he is unlicensed.

As long as there is a humidor and a steady supply of naive interns ready to do my bidding, I'm there.

Thanks for the update Josh. I figured there was some maintenance going on or something similar. Guess I should get on Google plus so I can get the update next time around.

What's Facebook?

J/K. I'm one of the holdouts who refuses to join the masses and sign up for FB.

No doubt. Earlier today, I actually hit the refresh button no less than 50 times trying to get the site to load....to no avail. Does that mean I have a problem, lol?

I've had a REAL difficult time accessing the site today. Is it me or is there an issue?

Talk to your bank to see if they will even consider a blanket loan, and if they will, at what LTV.

This type of product would almost certainly be a portfolio product. Meaning, the bank is going to lend their own money and take all of the risk.

As such, blanket loans are pretty rare these days. Still, it doesn't cost you anything to ask.

Thanks Bryan. There is another thread already going that I've been contributing in:

http://www.biggerpockets.com/forums/49/topics/64472-financing-5-unit-mfh-what-are-my-options-

Damon-While your request may very wll be something a local bank/credit union can handle, please don't hesitate to reach out to me if you'd prefer to let someone like me handle your transaction OR if you simply have any questions.

Just to throw a different perspective out there, I just read this article on MSNBC:

http://www.msnbc.msn.com/id/43682716/ns/business-stocks_and_economy/

WASHINGTON — Hiring slowed to a near-standstill last month, the government said Friday, as employers added the fewest jobs in nine months.

The Labor Department said the U.S. economy generated only 18,000 net jobs in June. And the number of jobs added in May was revised down to 25,000. The nation’s unemployment rate ticked up to 9.2 percent.

Businesses added the fewest jobs in more than a year. Governments cut 39,000 jobs. Over the past eight months, federal, state and local governments have cut a combined 238,000 positions.

The latest report offered evidence that that the recovery will be painfully slow. Two years after the recession officially ended, companies are adding fewer workers despite record cash stockpiles and healthy profit margins.

Friday’s disappointing jobs report surprised analysts, many of whom had expected job creation to rebound from a slump in May.

“Any way you cut this data, it’s lousy,†Diane Swonk, a senior managing director and chief economist for Chicago-based Mesirow Financial, told CNBC Friday.