All Forum Posts by: Yaamu Camara

@Matthew Crivelli exactly finding a commercial lender was hard.. i’m in contact with one but i don’t know what the outcome would be. More reason i suggested seller financing to him.

I really appreciate your input thanks.

@Nick B. Hard money is a great idea, i’ll

Look into it.. and yes i have to find a way to structure the seller financing if am going that way.. i was thinking maybe like a 20% down payment and monthly payments however to give me 3months grace period.

Thank you so much for your suggestions

@Brent Coombs thank you for your respond/input. Yes he might think i do not qualify to get a loan.. i will have to think and pitch to him in a better way. Thank you so much for your suggestions.

Hello Everyone i need help or ideas/opinions

I have 4 rental properties under my belt, am lookinng to get into multi family properties/deals. So i saw a 6unit deal for $145,000 in a low income area, Which is mostly the where i invest in.

It is a for sale by owner so i called the owner and pitched him the idea if he would be willing to eliminate the bank ( mind you i have the option of the bank as well) And work with me directly.

The property needs some work about $10-20k to bring it to rent ready. he said he is open to hearing what time of financing options i can bring to the table and we can take it from there.

What financing strategy options would you do or suggest if this was you? Or would you just get a loan from the bank? Any idea is welcome

Thank you inadvance.

@Carlos Gonzalez great advise i plan to send them an email or give them a call to provide insaurance for the pool. If they can’t then i’ll give them notice to remove it because it is not covered by my insurance.

@Bob B. You made great points here that got me thinking. I don’t want to come across like “ the new bad landlord” i’m conflicted because even though i want to safe myself of any liabilities i also don’t want to deprive the kids of having fun in the summer.

@Samuel Liapis Thank you for your post i’ll have to check with the state law. I appreciate your input

@Kat W. Thank you for the post, i never looked at it that way. And yes they cannot make any improvements without permission.

@Joe Splitrock thank you so much you have brought out some important things i need to add to my lease going forward. I Appreciate it thanks

@Joe Splitrock Thank you for your advise, i’d be sure to do that so i don’t have any liabilities and being a new investor i have a lot to learn and wanting to protect myself.