All Forum Posts by: BJ Everson

Hello, happy to chat about your PM needs. Please reach out and we can setup a time to discuss our services 

Interested. Please send info. [email protected]. 

Hi Micheal. Would love the opportunity to discuss any property mgmt needs you might have while building your Columbus portfolio. Please let me know if this is a need for you and we can schedule a time to discuss services. 

@Remington Lyman & @Zeke Liston Do you mind sharing with me as well?

@Steven J. Umaña agreed. They can get re-syndicated for another 15yr stream of LIHTC (10 yr credits, 15 yr compliance)

@Steven J. Umaña I work for an insurance company where I AM a portfolio of LIHTC assets. Really good industry of RE and has a good social drive (affordable housing) and strong supply needs. We invest in both the 9 & 4%. 

@Peter Fennig both the comments before mine are great advice.

Can go fully private financing to get around bank credit score requirements.

Bring in a credit partner like Kenneth mentioned and will need to have the loan in their name but then you can put the deed in the LLC you're both a part of with the agreed upon split.

Finally, you can add a Guarantor to the loan for a guarantor fee structure. I've seen this on apartment deals in the past, but you can bring it to the SFH world as well. Message me if you'd like to talk further.

@Devin Bost is there any work needed on the Plex? Or just a flat out purchase and hold? Who’s name is on the mortgage?

Does your private lender want to be part of the property for the long term or just looking for a short term play? Setting it as another loan is fine, I would just have it amortized over 20-30 yrs to keep the payment low. And you’ll need to do the math if the rents can cover mortgage, private loan and still a return for yourself.

If there is work to be done then I would make it a loan and look to refi after the work and pay off your friend with the upward refi.

If your private lender wants the long term then I’d go 50/50 sharing in the exp and income of the plex. Your 50 is deal sourcing, financing and running the rental while the private lender just provided down payment.

@Forrest Shaw $350k base would be a start. You could attempt a lower amount ($200-225k) just off campus and try to get student rentals but might be a gamble.

@Arianne Craig Jolla What state are you in? Depending, I have a HML to refer you to.