All Forum Posts by: Noam Adler

Each aspect of real estate is different. That said I would say multi family is the place to be. You only need to worry about one roof one boiler instead of one for each sfh. I would learn more about the multi family real estate world and then buy one building (but not worth 2m) and learn from your mistakes and then scale to bigger ones.

Hope this was helpful.

Good luck

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The answer is yes. Your just going to have to found the right bank/lender for this. I've heard that conventional banks make you go through a lot of hoops for these types of loans, while nconventional lender (fix or flip lenders) lend on these deals all the time.

I'd still try and reach out to people who are actually mortgage brokers.

Pm me if you want some suggestions.

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Originally posted by @Shavar G.:

@Noam Adler - you mentioned that the property would be appraised as a residential property. Are you discussing the refi with the residential side of the house or the commercial / business services side?

Commercial

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@Alvin

I'm going to follow this post. So please keep us updated on everything going on with this property, taxes and how your Cpa advised you to hold it.

Best of luck.

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Originally posted by @John Morgan:

@Greg Golden

I just did this last week and it worked out great. Paid cash for my first property I bought for 130k four years ago. Did a cash out refi on it. They gave me an investment loan for 146k loan (property appraised at 195k) for a 15 year at 4.125%. Three days after I got the cash from this loan, I closed and paid cash for a new property. I plan on remodeling this new property and getting it appraised soon. Then do another cash out refi on this property. And repeat the process. My rent on the new house will pay for my loan and gives me a little positive cash flow. So I basically gain a new house by just moving money around. And I can write off the mortgage interest which is nice. I’ll probably do a few more. Let me know if you want a loan terms quote from the lender I use. They work with investors and were great to work with. They will give you back 75% of the appraised value for a loan.

Would love if you could send me the lenders info. Thanks

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Originally posted by @Brock McClendon:

@Shawn M without touching the property

I dont see anything wrong with this idea. The one thing to keep in mind are all the closing costs on both closing. Also, I think certain loans would be impossible to qualify for (not sure speak with your mortgage broker). It may make sense to wholesale the house, but I dont know much about that, you'll save on some of the closing fees

Good luck.

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I have a four plex in Ohio its net profit is around 17k a year. I'm currently trying to refi/cash out . The problem I'm having is since it's a four plex it gets appraised as a residential property. Therefore the appraisal is all based on comps and not cap rate etc and the other house in this area all being sold for less (my property had extensive rehab done to all four units).

What can I do to get as much cash out for this property? Anyway to make a note and sell that? All advice is welcome.

Thanks

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@Geordy Rostad love it, that's what I'm talking about. Now we just need a great tagline to go with that

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@Geordy Rostad

I have other names. I just want to hear some other people's funny names and taglines.

It's all for fun

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All Forum Posts by: Noam Adler

Noam Adler has started 8 posts and replied 64 times.

Post: Calling any investor that are partnered with Walgreens

Post: Strategies for a kitty of 2M

Post: Can loan buy property and supply money for repairs?

Post: Can I do this? Note/refi advice.

Post: My first "High End" flip -- Looking for some input

Post: Cash out refinance question

Post: Buying a property off market, then reselling?

Post: Can I do this? Note/refi advice.

Post: The funny side of real estate ( working for yourself)

Post: The funny side of real estate ( working for yourself)