All Forum Posts by: Adrian Stamer

Yes out of Richmond. I don’t currently attend any here, I used to years ago but since 2020 all the better smaller ones seemed to either have stopped or still virtual only. So I haven’t bothered going back yet

Purchased my first (very cheap) rentals at 18&19, then paused to build a business until 29… been at it ever since 

Diversify, do both 

Thank you both for your service of watching and telling us that it was in fact full of overblown nonsense like everyone expected

Every small bank I've ever used makes a pro forma including those other items and usually requires 1.15-1.25 DSCR to lend depending on terms. Is this what others are seeing or am I experiencing a weird anomaly?

I would be significantly more concerned about the banking system if they believe a property cash flows and are lending based on numbers not including vacancies, maintenance/repairs/capex, and property management fees

This property likely doesn’t cash flow as you are leaving out important items such as vacancy, maintenance/repairs/capex, and property management fees

Yes, so long it follows the IRR over a 10 year hold I target

 Alecia, if you could always cash out and then put in a money market account at 5.25% to bring in a little over $1,500 a month still (I don’t know how many units it is) to be liquid and ready but still offset some of the loss from the higher interest rates

personally I'm seeing 7-7.5% of cash out refis but I've seen my HELOC creep up to 9.1% so you are definitely paying a premium for the extra flexibility

Quote from @Matthew Masoud:

This is my P/L from a 6-unit property in Dayton, OH for July.

All 6 units have been converted to MTR.

C-Class area near major hospital (believe it or not purchase price $210k) Cap Rate: ~31%

We have 32 units in this market. Just goes to prove MTR works in small markets too

*Water is paid quarterly.

Thanks for sharing, returns look great. That isn’t how caprate works though, maybe you mean Cash on Cash? Caprate is more of a market term, where a lower number is a less risky property or asset class and a higher number is a more risky asset class. While MTR would be considered a more risky class then LTR, 32% caprate would generally mean the most risky dangerous place on earth

But congrats on your success!