@@ClayJitsu no problem!! Wish I could say this is most up to date video but it’s not lol padsplit changed up their fee model so this sheet isn’t totally up to date. But thank you for the kind words!

@@sonrobaato thx man. We’re in 40 states right now, what state are you in??

I’m in Michigan and looking for a lender. Any suggestions?

@@sethsamson666 definitely!! Josh is amazing man. That’s great to see you’re learning from solid people and grateful to be one of them.

Usually a bridge loan wants to have first position. But let’s say you have a bridge lender who is open to having a second position and you also need a first position Lender that is OK with there being a second position that first position Lender still wants you to bring at least 10% as a down payment and 20% the second position where the first position lender only gives a max of 70%. Or you can get a transactional lender who provides 20% down and and have the seller carry 20% after closing and return the money to the transactional lender. Short answer is yes it is possible, but the long answer is it’s something that can’t really be explained well enough over a KZbin comment.

😁😁😁

Personally, I don’t. It’s a bit risky unless you plan to refi them out and have equity or other cash to back you up. You don’t know if your initial investment into padsplit real estate model will be positive, how much in repairs, if you’ll have evictions, etc. stuff happens in real estate all the time and it’d be difficult to make your numbers work if you’re 100% leveraged unless you can back it with your personal other income then it’s fine cuz you can bank roll any issues. If you don’t have a choice cuz you don’t have the money or the income, then I would put a clause that says you’ll give them equity if ever you can’t pay them back to protect them and yourself.

Yeah definitely. Shoot me a text 626.714.2440 or DM me on IG: @itsfernandocorona

hi there, yes you can also get DSCR loans under your individual name.

CoC stands for cash on cash. yes, its the same as cash ROI or coc return. simply put, how quickly do you make back the money you put into the deal in cash.

welcome!

id suggest developing a skill to offer to investors who have capital to invest in padsplit so they have an incentive to partner with you. project management, property management, eviction management, staging, photos, handy man, deal sourcing, etc. I think its a great space as well and just capital intensive. good luck

Can I still apply for one.

have you got the answers for these?

nice, so it'll be a little difficult to get regular financing as if you were going like 3.5-5% down on a 10bed because appraisers on conventional loans and lenders for conventional loans won't like the property so it'll most likely get denied. to buy converted padsplits, you'll need to work with a lender who understands the model and willing to lend based on the padsplit floorplan. usually you're putting 20-25% as a downpayment.

yes, close it

not sure. message support and ask them to verify

yeah no problem! and funny enough I actually became a lender as my main career now. already helped investors in the following states too: WI, TX, GA, FL, AL, CA, CO, IL, MO, KY, and open to adding more! what state are you in? and reach out [email protected] or IG: @itsfernandocorona

sure thing. shoot it over [email protected] - also keep in mind that padsplit is like airbnb, they only provide the platform to manage, but you will need to hire an actual on-site property manager or self manage.

This is something different. They do collect the sales tax. This is for a tax exemption cert with the state. You still have to file a $0 file

@Itsfernandocorona thanks for replying.

hey yes, i have 4 properties and they're all under LLCs. They're all in atlanta GA. Knowing what I know now, I would probably put like 2-4 properties in the same LLC. Having one LLC for every property can get expensive and high maintenance. not finanial advice, just saying what id do differently. right now i have 4 properties in 4 LLCs. sometimes you cant escape it, because two of those are actually with partners so we share ownership of the LLC which owns the property

hey whats up! Yes, I am in CA and do loan around the nation. Luckily with hard money loans and with DSCR loans, I can do those everywhere. I don't personally provide mentorship but I do have a few connections I can make introductions to if you want to reach out to me on IG: @itsfernandocorona - I can refer a few people that I trust there.