All Forum Posts by: Chris McNair

i dont have the property as of now ,but im negotiating the property at 40000 it has six units that will cashflow around 700 per month ARV expected to be around 150000 to 200000. So if we recieved this property at our negotiated price and renovated within the 70 percent of the hard money lender which would be good for 9 -12 months .how do I or rather what would i need to do to secure long term funding from a commercial lender

what is the process of getting out of a hard money loan after property is repaired ? How does it work and what is the process of moving from hard money loan to a fixed mortgage with LLC

ok i have a possible great deal 5plex for 70000 with 25000 in improvements .currently i dont have the credit to get financing on my own total needed down if we can downgrade to a quote on quote quadplex and get fannie financing i would need only 4percent down .or is there any other way to get this thing financed without a lot of capital upfront ... if left as 5plex i need 20 percent down on the 95000 or can i get the value increased based on the income of the property and have the 95000 within range to get the hard money at 60 percent and get loan and refi later with an after repair appraisal get out of the hard money 

they will do a refi with an LLC

i just spoke to philadelphia federal credit union about this if uou have a existing property they will finance to a LLC

you can search their name on zaba.com