All Forum Posts by: Timothy Aughinbaugh

@Cliff

I own the duplex down the road on 12th. Paid 41,500 and mine is on 1.2 acres. Rent them for 575 each 

I am looking at starting a thread devoted to people who have experience using one of the big hedge fund landlord lenders.  I am currently in the works with First Key Lending on a property and so far it has gone smoothly. I know there are a few out there another being B2R Finance.  If you have done a deal please write what you got in terms of %, lending terms and such.  

first key lending

b2r finance

Kendall,

Never had to get there.  I looked up an old friend at a local community bank and met with him.  We are currently structuring a deal that should be beneficial to take the equity out of the portfolio to reinvest.  If it falls apart for some reason I was going to contact Bank 21 and speak to Tyler.  Thanks!

having a hard time finding a lender, unreal! It's like I have the plague......

Kendall, Any sources for lending you can pass on for a portfolio?

Joe,

I can buy properties out here and pretty realistically make 12% net on each property.

@SethWilson

I am in Kansas City as well.  Do you know where I might be able to ask about portfolio lending around here in the local area?  Do you have any contacts?  I have not had financing in years and am wading back into it.

I'll have 124K of my money tied up still in the portfolio.  I am looking at using the money to purchase an additional 8 properties here in Kansas City.  I appreciate any feedback! Thanks Joe

Joe

Here are my numbers:

annual rent gross: 99,636

annual net after expenses: 78,021

The potfolio has a value of 750K.  They are willing to offer me 575K loan based on my numbers.