All Forum Posts by: Nicholas Weckstein

Matt Katsaris unfortunately I have no bright ideas on that. I find properties on the MLS or sites that show properties off of the MLS.

Ronald Rohde well the properties I'm looking at are between 200-300k. So with 10-20% down that would work. But I'm sure you know better. Any insight ? What they want to see ?

Matt Katsaris well for me the reason for going into commercial lending is because my DTI is maxed out. And with commercial lending from what I understand they don't look at DTI. And for me the only way to expand now is to go commercial. People have told me to stay away from commercial lending but from what I've seen it's the better route for some one in my position.

Okay so after enough research and talking about it I want to start moving on it. I'm looking for a commercial lender. Im looking for 10-20% down 7-10 year balloon payment 20-30 year amortization period. My credit is floating around 750 I have one multifamily property financed otherwise and commercial financing is new to me I have 50k to invest all in on my end. Any suggestions ?

Robert Ellis no I do not. I currently only own 1 triplex. Am looking to expand.

Gurjeet Singh all great suggestions. Thank you. I find myself doing this for some of the areas I'm looking to invest in. Another issue I see is that, and as I said in another of my very recent posts. For me I have to use commercial financing because my DTI ratio is too high. When buying a commercial property I feel that values won't be as high as u may want them. After all it's mainly just investors who buy those and we all want to pay as little as possible. Where as with a single family you may get a price over listing value. People fall in love with a SFH. All things to think about. I'd like to invest In some areas such as Fort Worth TX, Nevada, VA beach, Columbus OH, Tampa FL. But are just to far from where I live that I wouldn't feel comfortable.

Marty Johnston thank you for the very informative reply ! For me I'm seeking commercial financing because my DTI is an issue. I mean just like everyone, if I had the cash laying around I'd be a millionaire in a year lol. I want to squire more cash flowing properties and I'll have to go commercial. Which I don't mind. I like the idea of a 7 year balloon payment because of the numbers work, in 7 years I'll own a cash flowing property free and clear. Then I can hopefully Cash out Refi and use that to buy another. And so on and so on. I'll shoot you a PM and we can talk. Thanks again.

Taylor Brugna my grandmother begged my grandfather to let her buy another property for 17k across the street. Needed some work but now is worth around 4 million. Crazy how these areas have appreciated. I've been focusing my investing in NE Pennsylvania. And I know that property values won't sky rocket but you really see some good ROIs in the 10% or more area. I'm good with cash flow, it's my retirement plan. But I can't help being envious of the places that are skyrocketing in value. I.E. Fort Worth Texas, VA beach, Tampa, Colombus and areas like that. My other issue is that my financing options are limited to commercial financing because of DTI.

My grandmother bought a brownstone building in Williamsburg Brooklyn for 25k cash way back in the day. The estimated value of the property is now 2.3million. Ugh! That's the dream I think for all of us here. My question is, how do we do it ? How do we find the next area that will see significant growth over a 10-20 year period. I'm not expecting to see the same growth as my grandmothers home. I also don't invest in New York. But I want to buy in an area that I can buy a place for 100k and in 10-20 years see the value hopefully in the low 200s, rents coming up etc. Currently I invested in PA and everyone never lets me forget that I prob won't see much appreciation at all.

Hello everyone here at BP ! I'm looking to talk about commercial financing. Looking at a few buildings, one is 6 units and the other is 9 units. I have the down payment. I have the credit score, and I have another rental property but it has been less than a year of ownership. From what I know usually it's a 7 year balloon payment fully amortized (30 years) and the property Has to have at least a DSCR ratio of 1.25.