All Forum Posts by: Jimmy Murray

 @Mark Sullivan I'm based out of Rhode Island so not sure if my providers lend where you are located.

Biggest thing here, I would look for a portfolio lender. So someone who lends based on deposits and relationships rather than a broker who would sell your loan.

@Mark Sullivan if you are a buy and hold investor these loans work great. The struggle comes when you plan to sell, pay close attention to how the bank would treat the loan in the event you would sell.

Even though its a bit more work, banks are typically open to these loans as it provides them with additional collateral in the event of default. 

@Mark Sullivan have you researched portfolio loans? 

It sounds like the commercial property you are looking at is a slam dunk. 

Based on how I am reading your summary it sounds like there is solid equity in the 2-family in order for a bank to cross-collaterize assets. 

Brother you are crushed it on the savings goal!

My guidance would be related to marketing. If you are in the market as a realtor, particularly at this stage of the cycle, you know how to generate leads.

A slight shift in focus from listings & buyers to distressed purchases is the move to make. 

I would invest $10k in a highly targeted list of potential multi-family opportunities. The $10k includes paying for mailers and the list. 

This should generate 1-2 BRRRR opportunities based on the quality of the list. From there leverage your remaining $70k for entry in a distressed multi-family asset. This will give you buying power up to roughly $700k as there are plenty of lenders who ovver 90% LTC loans while offering 100% of rehab funds.

Stabilize the asset. Refinance with a DSCR loan. Repeat.

The only other guidance I would offer is investing a portion of the $80k into a coach who has already achieved what you are looking to achieve. As this will shorten your timeframe it takes to achieve your goals.

Excited for the opportunity to speak! 

Unfortunately I do not have any contacts in Philly.

@Tyler FontaineAppreciate the nod brother!

@Spencer Sutton Would love to connect if you are looking for a guest. I promise to bring the fire.

To me, on the buy and hold side, its all about the numbers.

Our team uses an in house spreadsheet to calculate, rent, expenses and generate a net operating income number.

From there we will focus on demographic of the property. We like to buy C buildings in B neighborhoods. These create the best BRRRR opportunities.

What style of property or project are you looking at?

Looking for to that! @Zash Salvador

TheCashflowKings.Eventbrite.com