16 September 2019 | 10 replies
Ultimately I decided to just go with a more conventional mortgage.
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27 August 2019 | 4 replies
The general approach would be to place the property in your personal name in order to refinance it at a more favorable rate - financing anything directly into an LLC will often come at a higher rate.
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28 August 2019 | 2 replies
I'm using white pages now, but not much luck with it, do you all know a more effective way to do it?
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29 August 2019 | 5 replies
I am thinking about engaging a more experienced commercial agent to review my numbers, provide their numbers, provide strategy consultations, etc...
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3 October 2019 | 13 replies
I was reacting to your comment that you would struggle to finance this deal and that the value of the building is between 2.4 and 3.5$M..if you could buy-out the partner maybe financing through hard-lenders at the lower evaluation and then work with your mother and aunt to sell at the higher price that could be a great way to "flip" the property and then reinvest in a smaller property yourself.There are a couple of watchouts, including the fact that Hoboken is a declining market (at least according to Zillow and my personal observations) and that hard lending is a more expensive way of financing, but if you can make it work it could be a very lucrative flip and it would leave you with the cash needed to invest in another property somewhere else...Hoboken, similarly to all the NYC area, is very expensive and tough to have a good cash flow
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20 September 2019 | 17 replies
I suggest talking to a local broker, there are many reasons I set up a brokerage instead of continuing to manage a team inside of a bank or "direct lender", but mostly it comes down to being able to offer better rates/fees, a more diverse product line, and ensuring more control over the process because I can take my business elsewhere if underwriting turn times hit the ceiling or other service issues arise.
4 September 2019 | 29 replies
If I was more convinced of the "reliability" I may have done it.and I would consider again in a more competitive/affluent market!
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28 August 2019 | 2 replies
Fairly new and financing options have been a more complex concept to grasp!
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29 August 2019 | 7 replies
My partner is very into vacation rentals in Florida, but he has a more short-term outlook than I do.
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30 August 2019 | 4 replies
Should I wait to move to a more affordable state which would probably be in 3 years if I decided to do that or not waste time or rent money and just purchase a home here?