All Forum Posts by: Akshay Wattal

75% should be fine as well. With delayed financing (i.e finance within 6 months) its 70% what some lenders told me. So anything more than 70% is good. Thanks! 

Thanks Chris.
In this case since it’s a cash purchase there is no loan amount. Assuming the value of the multi family hasn’t increased from its price point of 120k, in 6months, I’m looking for options to pull my initial cash investment out as much as possible. If I had gone the conventional way, I would have put 25% down and be done, since I did cash purchase, if I do delayed financing its 30% down. So I was looking for options to see if I can do 25% after a cash purchase. 

Hi folks,

What are some alternatives to maximize the LTV ratio after a cash purchase? For instance, if you buy a home for $120,000 in cash, one option is delayed financing, where you can obtain a conventional mortgage with a 70% LTV for multi-family properties (i.e. 30% down). However, I'm interested in exploring other possibilities that could potentially offer a higher LTV, such as 75% to 80% for multi-family properties.

Property is not in an LLC, but owner's name.

Welcome any guidance here! Thanks!

 Thanks, Jason! I'll check them out. Appreciate the input. 

Hi folks!

I've been on the hunt for a quad in Cleveland, OH for a few months now, with the help of a realtor. Unfortunately, I've lost a few bids and heard mixed reviews about the local market. A friend suggested that I look into Alabama due to its affordability, steady job growth, and tax incentives. I'm curious to know, if you were in my shoes, where would you start your search for a quad in the current market?

Thanks for the recommendations!

 Thank you Tom. That's a great point. I'll check out Avvo.com. Appreciate all the guidance, the amount here is big enough (pre-paid rents for 5-6 months) that I'm inclined to get an attorney. 

Usually it would be 2-3 months together since the tenant was on a government program and the check would come from Wisconsin Emergency Rental Assistance (WERA). This assistance program ended in Jan 2023 and the tenant had pre-paid rents for Feb-June 2023 to the PM company, not sure why they did that. The probate attorney sent me a note this morning that I can't get the funds it's not there. 

 Thanks, Tom! I was hoping when they close out and reconcile the books everything would be sorted. Unfortunately, I received a response this morning from the third party attorney who was handling this PMs legal side that there aren't any funds and I can't get any money back. Seems like I would need to hire a collection attorney. Would you have any recommendations? Thank you!

 Thanks, Theresa. Unfortunately, the pre-payment rent check was from Feb-June and that has been cashed out by the PM owner before passing away.