All Forum Posts by: Trevon Peracca

Thanks for your input Michael!

I am not looking to commit mortgage fraud or anything unlawful, unethical or immoral for that matter. I am just look for options that can help me acquire a rental property without tying up my capital. 

One of the things I forgot to mention is my conversation with the mortgage broker about LTV. She proceeded to tell me that they will fund 75% LTV only she meant the purchase price but kept referring to it as LTV.

Correct me if I'm wrong, but LTV is loan to value, so a lender that does 75% LTV should fund 150k on a property appraised at 200k.

My understanding is the LTV is there to secure the lenders collateral in the loan.

That being said, if I lock up a property appraised at 200k with purchase agreement of 150k the lender should be willing to fund 100% of my purchase price right? Right now I am being told I am wrong to by the lender.

If i am wrong, they need create a new loan-to-purchase acyronom.

If I am right I might need to find a new lender.

Thoughts?

 Thanks for your input. That concept makes sense, but the word "can't" does fit in my vocabulary. There has to be an alternative solution to my problem, I just need someone with the creativity to help solve my problem. 

I got approved for a conventional small multifamily investment property loan. The lender requires a 25% down payment. When I said I was looking to seller finance or get a hard money loan for the other 25% they said that I wasn't allowed to do that. The only way I'll be able to get money from somebody else as if it was gifted to me according to the lender.. 

How can I finance or pay for this 25% using other people's money and without tying up my capital?

Thoughts or suggestions?

It is possible to use an FHA loan for a 1-4 unit investment property. Thoughts?

 I agree. Thank you for the input Keishee!

 That is the one i was planning going with. I just wanted to get a sanity check before i make the decision. Thanks for the input Nick!

 Thank you for the information. I definitely agree. I understand the basics of SEO, and I plan to put in the effort necessary to host a great website.

 Ive considered "chicagohomebuyers.co" but i am unsure on weird suffixes. Thoughts?

My Business Name is: Chicago Home Buyers, LLC

I need a domain name:
TheChicagoHomeBuyers.com
ChiHomeBuyers.com
ChiBuyers.com
ChicagoBuyers.net
Chicagohomebuyersllc.com

Thoughts or suggestions?

I'm looking to start campaign number three here in the next week or two. I've seen people who are exclusive to yellow letters, but I have also seen people who like to mix it up and use a more cost-effective strategy. By that I mean on the first touch could be a postcard, the second touch could be a letter, the third touch could be a zip letter, fourth can be another yellow letter and fifth can be a professional typed letter with company logo. Anything after the fifth letter can just be a postcard.

I'd like to hear some thoughts on this. Which is most effective, and which is most cost-efficient? I'm in the west suburbs of Chicago.