All Forum Posts by: Rami W.

@John Arendsen Any advice on valuing a manufactured multi-family property? There is one in my area for sale I'm negotiating but really no good idea how to evaluate such a structure. I can only get a business loan on it for some reason even though it's not over 4 units.  

What are the best types of manufactured homes? hud? Modular? Steel frames?

Never had the opportunity to build, just yet, but I have always been curious.

If zoning states 1 unit allowed for every 1500sf of lot area and the lot just shy of the next full unit, lets say a 2900 sf lot, will the city still allow it for 2 units or does 1.9 mean you are only allowed 1 unit still?

Or are there other calculations/factors in play here, like difference afters setbacks are subtracted, how lenient the city planner is, etc.)?

Thank you!

I, too, was surprised by the data. A lot of people on here have been raving about Indy. 

Heres a new BP article to reference.

https://www.biggerpockets.com/renewsblog/2016-inve...

"Indianapolis, IN was the market in the study that offered the least opportunity for residential real estate investors overall."

@Ricardo Olea Good luck man! Hope you get yourself a great first buy and hold!

Loans are cheap right now. Who knows how much longer they will be this low. Unless you wont qualify for traditional financing, which is why you need owner financing, then it might be a good option. Because of his age and his want to get out of the biz, he prob wont want anything over 5 years. BUT, no way of knowing until you ask how long and what he considers "decent yield". Maybe 3% is decent yield to him, maybe 8%.

PS. the beauty of owner financing is that it can be whatever you both agree to. Make it a win-win situation. I don't really think there is a standard when it comes to owner financing.

Also, in the X amount of years he holds the note, you can slowly force appreciation and adding value by making improvements/raising rent. When it it time to secure new financing your new values will help you.

As a wholesaler, or any investor for that matter, why would you come in at market retail price?

Owner financing is great, but why are you asking us how long he'd hold the note for? Ask him! Have him start the negotiation, that way you don't overbid and end up with worse terms than he would have settled for.

You would need to secure a different method of financing once his term ends. Probably a traditional loan.

Cant seem to find the link to this webinar. Did you cancel?

If you dont work in an industry where loan forgiveness is possible (education usually), do some research in to private fixed loan consolidation. You may be able to get locked in around 4-5%.