Great breakdown! I put my entire savings into my first deal (6 unit) as a downpayment. Quickly realized I was out of money and had to find different solutions if I wanted to scale. Creative finance partnered with PML’s was the answer. It’s been a game changer!
I’ve been looking into owner financing deals and recently found one and potentially i can use a PML for the down payment. I need more in my network. If I cannot find one, I’m leaning towards a small personal loan. But that may eat too much into my profits.
The term 'term' is being misused in your explanation. Duration of the loan, the payment or re-payment period... All of the characteristics of the loan are the TERMS of the loan.
@brianarcangeli2263 Well put, AND, I will suggest replace the word Termination with the word Duration. The term of the loan needs to be clearly addressed in the terms.
Why am I finding a hard time finding a DSCR Loan or Private Money Loan? My bank Chase doesn’t offer it and neither does my wife’s Credit Union. Where are the DSCR loans available?
Talking to an investor friendly lender can help you find the more niche loan products like the DSCR. Check out biggerpockets.com/finadalender it's FREE!
Great breakdown! I put my entire savings into my first deal (6 unit) as a downpayment. Quickly realized I was out of money and had to find different solutions if I wanted to scale. Creative finance partnered with PML’s was the answer. It’s been a game changer!
I’ve been looking into owner financing deals and recently found one and potentially i can use a PML for the down payment. I need more in my network. If I cannot find one, I’m leaning towards a small personal loan. But that may eat too much into my profits.
The term 'term' is being misused in your explanation. Duration of the loan, the payment or re-payment period...
All of the characteristics of the loan are the TERMS of the loan.
@brianarcangeli2263 Well put, AND, I will suggest replace the word Termination with the word Duration. The term of the loan needs to be clearly addressed in the terms.
Why am I finding a hard time finding a DSCR Loan or Private Money Loan? My bank Chase doesn’t offer it and neither does my wife’s Credit Union. Where are the DSCR loans available?
Talking to an investor friendly lender can help you find the more niche loan products like the DSCR. Check out biggerpockets.com/finadalender it's FREE!
I used MyVentureLoan a couple times
loved this!
I can help with the Private Money loans. Also, contact me for any Traditional and DSCR loans.