All Forum Posts by: Zk Lani

Am I out of touch with reality to find a commercial loan on a mixed commercial/residential property, that’s 25-30 year amortization or interest rate under 4%??

Do you guys have any recommendations for a mastermind group I can join. Brief background, I’m full time in healthcare, started investing 1.5 years ago, I have 12 doors grossing a little over $200k a year, looking at semiretirement by end of 2024 with $100k a month of net income by then. I’m very focused and dedicated to RE, I enjoy doing it and it helps me relieve my work stressors. I’d appreciate your input and help.

ZK

@Chris Seveney thanks Chris, definitely interested in speaking with an attorney, if you have someone to recommend.

@Jeff S. Great advice, thanks! I am only lending to local investors I know in my area. I also know the banks that will refi the borrowers investment to get me the cash out. I’m only lending for investments in my zip code that I’m familiar with comps, etc.. I just need further insight on protecting my capital besides deed of trust or a promissory note. I appreciate your reply.

Hi there,

I’m planning on becoming a private lender to some local investors. I would appreciate any insight from people who do this routinely, any resources to share, such as agreements, etc.. I know I would need a promissory note and a deed of trust. I will be lending at 12% interest to be paid monthly. It would be great if someone would be willing to share what they’d typically have in their promissory notes, and tips on how to further prevent any potential problems. Thanks y’all!

ZK

@Brian Van Pelt thanks, I’ll give it a shot.

Hello everyone, hope you’re all safe and healthy.

Does anyone have an excel sheet or a software they can share for amortization schedule that reflects monthly change in principal/interest payments based on extra monthly principal payments I’ve been putting? I bought a property 4 months ago with seller financing with a 2 year balloon. I’ve been paying extra principal every month and working on refinancing this year to pay off the seller. I couldn’t find online an amortization schedule where it reflects the monthly P/I based on the extra principal payments. I’ve been putting good chunk of extra principal each month so would help to know exactly what my equity is that I’ll be refinancing.

Thanks a bunch!

ZK

@Arthur P. What would you do if your city doesn’t allow eviction anymore! That’s what my county is trying to do!

I’d love to attend but I’ll be out of the country, look forward to the February meet up.

@May Emery my interest is more multifamily in certain zip codes. Almost always owned by other investors not owner occupied.