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18 January 2025 | 9 replies
A bank will not give you the $ as you have to show ability to repay the loan.
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26 February 2025 | 0 replies
I have a main company, that owns a bunch of LLCs, each LLC holds a single real estate asset. 1 of the LLC also acts as a management company for the entire portfolio.Now it creates a problems that with each LLC, I need to file a tax return each year. and so far I am doing them by excel copying numbers from bank statement, which is a nightmare.Quickbook online charges $24 each month in Canada, which really adds up with the number of holding LLCs. and I don't feel like what I require from it justify the cost.
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20 February 2025 | 6 replies
Just adding a little $0.02, outside of what he said, most banks are not going to be your friend when it comes to this type of construction, or any for that matter.
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11 February 2025 | 4 replies
What matters more is whether the borrower in question has the (i) time, (ii) contacts, (iii) experience, and (iv) ability to effectively communicate & package their loan request to banks & credit unions in a way that is compelling to those lenders.
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20 February 2025 | 8 replies
I just need help on finding a path to get my hands on the capital I highly recommend going and taking @Frank Rolfe's MHP bootcamp but also talk to local banks
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18 February 2025 | 3 replies
Since hard money eats into profits, consider private lenders, local banks, or partnerships for lower-cost funding.
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26 February 2025 | 1 reply
If you buy right now you get in on the ability to increase your equity faster and simply refinance in 12-24 months when rates drop.I have seen this cycle twice in my 19+ years in banking and we are getting ready to have much lower rates over the next 3-4 years.
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14 February 2025 | 6 replies
Frame it like this: "in order to make sure you get paid on time I want to have a schedule of when the draw inspections should happen with the bank"Then, you have a schedule to keep an eye on and if they're slipping, you can ask them why and see how you can help them get back on track.
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22 February 2025 | 0 replies
My local community bank that I had a relationship established with helped me finance this deal.