All Forum Posts by: Jeremy Sanders

@Jason Esposito

Even with your private Lender being family, is it anything you would do different from your previous deals, any mistakes that you learned, and during your deals besides having lenders that are family, is their anything that you can share that made you successful?

@Jason Esposito

Awesome!  I'm back on track. 

@Alex Brookbank.  Thanks for the rapid response and all the vital knowledge when investing in Multi-family properties.  If you don't mind me asking, how is or was your experience when renting out your units? 

Which is better, getting a Home Equity Loan or Home Equity Line of Credit?  Also do you have to go through your Mortgage Company in order to apply for either one?

Which is better, Getting A Home Equity Loan or a Home Equity Line Of Credit?  

@Jason Esposito

Thank you so much for directing me into the right direction when it comes to understanding private lenders.  So now correct me if I'm wrong.... It is basically anyone who has the cold cash to either purchase the property for you completely, while they hold the lien until the terms have been made.  Or they can just give you the amount you may need for a down payment, repairs, etc and then hold the title until all obligations have been made. I was reading on it, and it just wasn't clicking. 

I want to make sure I got the full understanding when it comes to Partnership Financing. Please if anyone can fill in the gaps.

1.) Fully Equity Partnership is mainly used when flipping Houses. You use the funds of others to fund the deal, you do the work with rehabbing, renting, and managing side of the deal and both you and the initial investor whom invested their funds split the profits 50/50.

2.) Down Payment Equity Partnership- The investor funds the down payment needed. The investor will then get the mortgage in their name, but the legal title will be in both yours and the investors. You both will then split the profits 50/50.

3.) Private Lending Partnership - ( ??) This one I'm alittle confused on.

4.) Credit Partnership - A person lends his ability to get a loan but doesn't supply any down payment. You would then use a hard money lender or another private lender to purchase a property, including repair costs. After the home is rehabbed, rented, and producing month-after-month cash flow, the initial lender refinances the home into a fixed-rate, long-term mortgage using his or her great credit, but both remain on the legal title for the property

I want to make sure I got the full understanding when it comes to Partnership Financing.  Please if anyone can fill in the gaps. 

1.) Fully Equity Partnership is mainly used when flipping Houses.  You use the funds of others to fund the deal, you do the work with rehabbing, renting, and managing side of the deal and both you and the initial investor whom invested their funds split the profits 50/50.

2.) Down Payment Equity Partnership- The investor funds the down payment needed.  The investor will then get the mortgage in their name, but the legal title will be in both yours and the investors. You both will then split the profits 50/50.

3.) Private Lending Partnership - ( ??)  This one I'm alittle confused on.

4.) Credit Partnership -  A person lends his ability to get a loan but doesn't supply any down payment. You would then use a hard money lender or another private lender to purchase a property, including repair costs. After the home is rehabbed, rented, and producing month-after-month cash flow, the initial lender refinances the home into a fixed-rate, long-term mortgage using his or her great credit, but both remain on the legal title for the property.

@Joshua D.

I have to say, that is pretty exciting!!  It shows what you can find driving around, and when you actually get out there, what you can actually encounter.  Then look at the massive return you had that went into the Home.  Plus a lot of equity too!  Are you planning on Holding it or Selling it eventually if you don't mind me asking?  Also was the duplex and older model home? 

@Joshua D.  Thanks for the expedient response and advice.  I'm currently reading "The Book On Investing in Real Estate with No and low Money Down."  I will definitely jump on the podcast.  Its great to come in contact with someone who is knowledgeable in multi-family home investing.  Would you be kind enough to tell the story of the experience you had when going through the entire process of finding and purchasing your first duplex?