All Forum Posts by: Allen Tong

@Daniel Dietz Thank you for all the information you provided! This level of detail was exactly what I was looking - appreciate your time!

@Melvin List, Yes, I have considered that option. Depending on final purchase price, I have capital to purchase at most 2 of them, assuming 25% down using a conventional loan. Just wanted to pose this question to the group to get ideas on creative financing and options.

@Taylor L. Each building would be cashflowing around $800/mo and 5 total buildings. Calculation was based on after mortgage and expenses, assuming 25% down.

@Daniel Dietz Thank you for the insight! These properties are about a 3 hour drive from me and I have not completed any deals that are structured the way you mentioned using a PMP. 

When you bring in a PMP for the downpayment on the loan, can you go into details on what type of legal entity do you use and how it is structured?

Hey everyone, I recently saw five quadplexes - all separately owned and listed - in a C+ area on the MLS.

Each property has (4) two-bed one-bath units. They are listed for around $210k - 250k each. Rent in the area is around $750-850.

My issue is coming up with the down payments (20-25%) for each one.

Assuming each are "good" deals with a 15%+ ROI and $800+ monthly cashflow after all expenses, how would you go about finding the capital to purchase these? how will the note/mortgage need to be structured?

Thanks for the information Matt.

Hi @Matt C., who or which department of the city do you contact and speak with to find out if they will allow this type of project? My uncle is in a similar situation, where he owns two SFHs right next to each other and owns the land. He's interested in demolishing the two SFHs and building 3 duplexes instead. Just gathering information at this time.

Hi Everyone! I'm new to BiggerPockets and recently signed up for Plus membership. I currently have one small 2/1 condo rental property in the Tampa area. I have so many questions about real estate investment and am hoping I can network with other forum members here to learn and grow. 

I'm currently trying to analyze deals in the area. but one thing I fear is overpaying for a property and thinking it was a "deal." Would love to share some of the reports from the Rental calculator and getting advice/feedback on if you guys think it would be a good deal or what would make it a good deal.

Looking forward to talking with you all!