All Forum Posts by: Allan Smith

I'd like to trade up my smaller rentals' equity into a MF deal. Totally open to value add but it's gotta be at least a 12% cash on cash return. I could do probably $1.5M price.

if you see anything, I can buy it or partner on it!

I am building houses as a licensed GC, have a bunch of rentals, and have a property mgmt business. I can leverage this experience however it's helpful.

If you find a great deal I can handle the capital. 615-543-6777 

Strongest method is talking to other people who have used this lender. Read online reviews or ask them to send you 3 people who have completed a loan. If company is not reputable they will suddenly seem to not be seeing or reading your request. You'll have to ask multiple times and their responses will get slower and slower.

If you sold lot and kept net proceeds to pay down loan on rental, would rental cash flow? Don't include the paydown as part of your down payment and CoC ROI calculation in this scenario.

if no cash flow in this scenario it's not a good deal. Might even be a bad deal.

You have a $1.6M property under contract and don't know what it's use would be.

🍿 🎬

If it's above a 6.5% cap rate I'll be shocked. That area is oversaturated. Barely enough profit for ann investor partner.

If you get a lock that can have different codes for different people, you can track access history. You could give tenants up to 1 use per week for example. If they give the code to neighbors, they give up their chance to have free laundry. Lock should be set to automatically lock after a few seconds. Probably gonna need wifi of some kind; you could set up wifi for the whole building and give password out to tenants and split cost. Should save money for all.

otherwise you really just have to get paid machines. Maybe there's cheaper ones that take voucher cards instead of CC.

Laundry rooms are a loss leader. The maintenance and hassle is about break even with the revenue, so its really just to help the tenants out.

I'd say you pretty much got it. Probably need more details on what repairs it needs but that comes with time.

Yeah that's about right.

you can try out smaller towns as they typically have more cash flow. Every state as at least a few. But you'll be giving up appreciation (which, mathatically, tends to make more than cash flow ever could).

there might still be a unicorn town here and there that JUST Started growing quickly so you can get in while there's still cash flow. I don't know of one though. Chattanooga was that about 3 years ago. Prices all up now. Rents only up some.

that neighbor was there all along, right? You bought it with that neighbor? It's part of the equation when you make an offer.

your listing price is too high.