Hi all. I am a fairly decent real estate investor that has gotten stuck in a rut.
I own too may properties for conventional finance so that means hard money loans. That means more cash out of pocket to sweeten the deal. Any new suggestions on how to raise capital for down payments? New ideas not family, friends, co-workers etc…
Thanks a million.
Howw many properties do you own? Why don’t you invest the positive cashflow from those properties?
Hey bud,
I own more than 50 properties. The cash flow goes to other endeavors. I need fresh ideas. Thanks.
I was on a webinar last night with the guy that runs this website [url=http://[url]www.thefrustratedinvestor.com] www.thefrustratedinvestor.com
Talked to the guy on the phone this afternoon, and well, he’s to the point, that’s for sure.
Or you can try to google iLOC
Hope this helps.
You own more than 50 properies and have no money to keep going? I’d sugest you direct the money from the other endeavors to grow your RE portfolio.
How did you get up to 50? Anyway Fannie Mae and Freddie Mac just relaxed their guidelines again, now I think you can do up to 10. Of course if you have 50 that’s not going to help. The other way is through a commercial loan. I looked at the commercial loan department of a local bank, their rates weren’t that bad, 6.5%. Typically commercial is over 4 units, but they said they’d also do a 3 unit property. Probably way better than a hard money rate. Of course maybe you can go hard money for a second mortgage as you still need the down payment.
Thanks for all the suggestions guys. I’ll try the website and check on doing more commercial loans. I started off that way, but since the market crashed I have been buying up single family homes and units under four. But going back to commercial maybe the way to go if I can find deals. The deals around here are mostly single family foreclosures. Harder to find the multi unit commercial types for bargain prices. But well worth the look. Thanks guys!