All Forum Posts by: Brent Busby

@Jack Mawer Hi Jack. Thanks for the reply. A 10 year term IO, amortized over 20 years would probably work for this deal. It might actually be better as this is a value add with rents ~36% below market at the moment, which is why I was originally looking for a 30 year ammo. I would need to run the numbers, but would love to connect. What type of rates do you have with this product?

I’m afraid getting this to underwrite at a 1.25x might be difficult using the current rent roll and only a 25% down payment, which is why it’ll need to be 30 year amortizing or IO. Open to other suggestions.

I am looking for a lender in the Birmingham market for small (8) unit multifamily property. Specifically, looking for a 10 year term with 30 your ammo. Let me know if you guys recommend anyone. Thank you.

Actually after looking it over, the property that I am interested in may not be a HUD home after all. I was directed to the Hudson and Marshall website through the hudhomestore site, but once there I used the search function which pulled in other properties that H&M have listed. Can this thread be moved to the appropriate board? If anyone has any experience with this company I am still interested in learning more.

First time poster long time lurker. I was looking around on Hudhomestore.com and clicked on the link "To view HUD Homes available for auction please click here". That link to me to the hudsonandmarshall.com auctioneer website. I have no experience with these people and had the following questions:

• Is the auction absolute if I am the highest bidder?
• If my offer is accepted, what are the next steps in the process?
• Is this a cash only sale or is bank financing allowed?
• Are there any brokerage or other ancillary fees owed if my bid is accepted?
• If the property does not sell will it be relisted with Hudson and Marshall?
• The property appears to be a HUD foreclosure, why is it listed with Hudson and Marshall and not on Hudhomestore.com?

 In addition to my questions above, I would like to know if anyone has any experience dealing with this company? and your general thoughts?

Thank you