All Forum Posts by: Account Closed

Which comes first in a 28 unit multifamily purchase, the contract or the preapproval?

I don't think it is right to inflate the price personally

Matt, Do you know of any off-market C class multifamilies with an upside we can buy with an 8-10% cap rate?

Thanks for the good advice. I guess RUBS would be a good avenue. The seller wants 9.5% for the seller carryback though, which would gouge our cash on cash returns, so we're pursuing other avenues to acquire it with JV Equity or private money.

Thanks! That's great stuff! Right now with this deal I'm in for a 5-10% equity share, I found the deal, am having my commercial realtor write up the offer, and am bringing the management company. I couldn't be happier, using zero money!!

Sorry, it was $20,000,000.00

I have had fraudulent lenders and scammers promise me in writing to lend me $20,000. They had said there were no fees. Then there was a fee. I never gave them any money. People lie. Steal. Cheat. Frickin mamamalia. Lol

A friend sent me a 72 unit that's available for 4.2m. A 7.56 cap rate. $318,957.97 NOI according to the trailing 12. I asked for someone to JV with me & sent the email to an investor. They are processing the purchase. He wants me to bring something to the table, and since I am living on a VA check and have no money, I reached out to another investor. He'd like to help, but is concerned about the master metering on the utilities. He said it's hard to figure the true cap rate. Is it cost effective to replace and set up individual meters? The returns would be better. How could I estimate?

I am in need of money. Why not earn while I learn?

I find it ungodly awful