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8 Replies Last post: Jan 28, 2008 7:18 AM by LUCKIEST

Where are the best rates

Jan 23, 2008 4:22 PM

SGTrealestate 3 posts since
Jan 23, 2008

I have started my own business in real estate. The nature of my busniess is renting multi-family apartments. I doing a contract on a duplex now and I need to find a really good rate. The property is in good shape how ever the owner is using the property for a tax break, but not income. So I need a good rate so I can have a good monthly cash flow. who should I use to mortgage the duplex.

Tags: cash_flow, alternate_financing_options, financing, investment_loan, loan_to_purchase_property, investor Report as inappropriate

LUCKIEST 7,938 posts since
Aug 6, 2007

1. Re: Where are the best rates Jan 23, 2008 5:05 PM

SGT, Tell us more. Who are you, You started your own business in real estate?? How long ago??
You are in Killeen,
Texas. What bank do you use?? Do you have an Accountant??
Have you done a Marketing and Cash Flow Report??
LUCKIEST

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SGTrealestate 3 posts since
Jan 23, 2008

2. Re: Where are the best rates Jan 23, 2008 5:34 PM

in response to: LUCKIEST

I started my business back in October. I am using bank of america. I have contacted a few accountants but have not picked one as of yet. I have not done a marketing and cash flow report.

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LUCKIEST 7,938 posts since
Aug 6, 2007

3. Re: Where are the best rates Jan 23, 2008 6:51 PM

in response to: SGTrealestate

You have MANY decisions to make,
Do you have a Business Name and a Federal I D Number??
LUCKIEST

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SGTrealestate 3 posts since
Jan 23, 2008

4. Re: Where are the best rates Jan 23, 2008 7:38 PM

in response to: LUCKIEST

I already have a business name and a EIN. The business is official.

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CorpCons08 1,128 posts since
Nov 14, 2007

5. Re: Where are the best rates Jan 23, 2008 11:33 PM

Honestly, rates are the least of your concern in todays economy. You should be focusing more on finding a financing program that fits your needs and that you will be able to receive an approval on. Rates can be negotiated, and often times that's why I recommend hiring a consultant. We have arrangements with financial institutions that allow us to negotiate bank rates down lower than advertised.

Good luck,

CC08

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LUCKIEST 7,938 posts since
Aug 6, 2007

6. Re: Where are the best rates Jan 24, 2008 4:17 AM

in response to: CorpCons08

Good answer CC08. I know we are all busy, BUTI am STILL waiting for the info
that you said you would be sending. There is always next month,
LUCKIEST

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Dominion 4 posts since
Jan 28, 2008

7. Re: Where are the best rates Jan 28, 2008 2:36 AM

I would suggest that you visit www.bankrate.com. They offer both National and local rates on various types of loan products. I would also suggest that you establish an excellent working relationship with a local banker who has worked with individuals such as yourself.

Happy Hunting

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LUCKIEST 7,938 posts since
Aug 6, 2007

8. Re: Where are the best rates Jan 28, 2008 7:18 AM

SGT I am a Quickbooks Consultant with clients all over the United States.
My rates can be VERY VERY low for a new small business. Do you have a Business Name??
A Federal I D Number. You can e-mail me at " pdeig@juno.com "
LUCKIEST

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Where are the best rates

Jan 23, 2008 4:22 PM

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