All Forum Posts by: Willem Young

@Peter Mason

Congrats so far Peter!  If it were me, I would refinance with a blanket commercial loan.  There are loans you can get and cash out up to 70% of the property valuations and use that to free up your cash rather than sell and still benefit from appreciation and usually cash flow.   (Those net rental amounts for properties owned free and clear seem really low to me though so maybe you would be too negative in cash flow on the entire picture so that's something you would need to evaluate)   Then use that 70% cash to be your down payment for a multifamily property if that's what you want to do and evaluate the opportunity as a whole with all debt costs and new cash flow from the additional asset.   Keep in mind though multifamily assets often won't make as good of cash flow returns as just 4 unit or less rental properties so make sure you're focusing on cap rates when considering multifamily and 4 units or less investment properties.   We buy both but find that 4 unit or less often has better cap rates in our areas and are easier to sell if you need to.

@John Hamilton

Sent you PM.  Can you send me what you have available?

@James Lindsey

Find a great deal and look for a partner to work with.

@Steven White

It's all about who brings what to the table.  A GC is bringing a service if you brought everything else.   If you have access to great deals, what you want is a money partner or a GC that puts up money/ credit to do a bigger deal.  15-20K is really low.  There are lenders you can work with or your partner can bring to do a larger deal so there is more to split so both parties win.

@Camille Jackson

LLC is a great way to go and lenders do lend to LLC's but will usually want a guarantor unless you get a non-recourse loan. @Nick Denning's post is accurate and his company actually provides a good rehab / buy and hold loan product.  Hard money can add up very fast though if you don't execute your take out strategy quickly.  It may not be the best option for someone just starting out .  You may do better off partnering with an experienced real estate operator for a deal or two to get started.

@careen

Good Call @Mindy Jensen

@Shawna Diaz

Elaborate on the deal more.   Property type, condition, rented or vacant, rent amounts or market rent, property valuation, liens and terms of the liens etc.

Hey Joseph,

Email me with more info including address and any pics you may have.

-Willem

@Rodney Watson

Private Message is PM :)

@Steven Anderson

We work with a few lenders that will do that and we invest with LLC's. I just pm'd you with them. Good Luck!