All Forum Posts by: Travis Sperr

@Kyle Doney correct FirstBank. I am getting ready to finance another with them. No issue to title in entity, fairly easy to work with and doesn't report to credit. 

@Dan Frank it is a bank local to Denver, looks like you are in the cities. If you are less than 10 Fannie has the best terms. If more, you might try @Kim Burke with leader1, she has referrals for more than 10. 

Keep in mind I posted the rate about 3 months ago, rates are up a little since then. 

Local banks are all about relationships (meaning your deposits), terms become more favorable when they have your banking business. 

Good luck. 

@Erich Martinez are both purchased investment purchases? or is one owner occupied? 

I am thinking you need to connected with a direct lender - with no overlays that clearly understands the process rather than someone whose guidelines change. Maybe the bump in cash on the duplex is because it is multifamily - usually requires a little more down payment for investment purchases. 

Happy to put you in touch with a lender that understands all of this and can tell it to you straight.

It has been my experience that fannie mae does count retirement funds as liquid. see below - direct from the selling guide (which is all of the guidelines for fannie)

https://www.fanniemae.com/content/guide/selling/b3...

Good Luck

Stupid isn't a protected class. 

@Kayla V. All of your numbers as a percentage work for a BRRRR strategy - it does look like you are missing closing costs for the purchase and refinance, and any holding costs in the hard or private money loan. That aside the taxes and insurance seem too high for a $100k property? I see you are in Denver - where is the property?

After repaired value (ARV) is one of the hardest, but most important skills to have as a real estate investor. If you miss this number you could lose a lot more than your shirt. Learn from a pro how to value real estate, make adjustments and understand the positive and negative influences of your next deal. There are often many mistakes when it comes to valuation, even from your trusted advisers. Come learn how to do it right so that you are not counting on someone else when the next hot deal hits your desk. Here is just some of what you will learn in this presentation:

• How to run the numbers for sure fire success on every deal you do
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• The common pitfalls even the most experienced investors fall into
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About the presenter (me):

Travis Sperr graduated with bachelor's degree in Business Marketing from the University of Northern Colorado in 2007. He joined Pine Financial Group in 2009 as a Loan Officer and is now a speaker, teacher, and frequent contributor to Pine Financial Group's monthly newsletter. He has been instrumental to Pine's growth both in Colorado and in Minnesota. Travis was fortunate to grow up around construction and real estate while working for his father's construction business. He now owns and manages a portfolio of rental properties in the Denver-metro area valued at over $2.3M. His investing is currently focused on multi-unit new construction projects in the Denver area, having recently completing a $3.3M project. Participating in real estate investing everyday with more than 500 transactions as a hard money lender, landlord, agent and investor, Travis has found his true passion for the business.

After registering, you will receive a confirmation email containing information about joining the webinar.

**Please register early to ensure your spot**

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Try Key bank - I have a contact in Golden if you want to shoot me a note.

@Scott N. This is fantastic. I applaud this, I do not have an immediate need (other than an offset sewer line 9' deep, below a drive way). Just the offer to add value via your skill set makes me want to help you - let me know how I can help you on your way to success in this business.

@Leland Dunn Everything you describe looks accurate based on the way I understand it. You can deduct costs to well the property, commissions, title, concessions, etc and any costs related to improving the home for resale (possibly more like if you rehabbed it while you lived there). Although I feel pretty confident in all of it - your best bet is consulting your CPA to make sure you don't have any surprises. Based on the time lines you described you may want to get moving on your wife's previous primary so you don't miss the window.

Good Luck!

@Bill S. I had something like this years ago - it was in Commerce City - It was house on light industrial zoning, there were houses up and down the block with the same zoning. The feedback I got from the city was that if it burned down a house couldn't be rebuilt. Some what grandfathered in, but the long term plan for the area was to go industrial. I don't recall what that did for financing for an owner occ.