All Forum Posts by: Chris D.

I have a 12 unit for sale by owner in North Tonawanda,  let me know if interested,  1.25m

 Careful, you can change the name, but there is usually language that says you cannot in the lenders closing documents.  Trust me

4.6 at 30 years, 25% down is a great term, commercial right now is 5.22 at 20 years, 25% down, take it and run. Now if you are going to put it in a LLC then you cannot do conventional, you would have to go commercial. Which i suggest putting it in a LLC.

About 10 years ago i did a conversion in the city of buffalo, it was hell.  They wanted sprinkler system installed, i had to remove windows and make them bigger and lower for egress, inspectors were a pain in the a$$, etc etc.  I convinced them to forgo the sprinklers as i put in hard wired smokes.  It cost a lot of money, but was worth it.  Also, dont listen to Chris above.  Its easier to get a commercial mortgage than a normal mortgage.  I suggest you get a commercial mortgage on a 4 unit.  Then convert after.  Also, pay for it as a 4 unit, not as a 6.  I was always tought to pay for current numbers and never pay for future numbers.

700k, with income and expenses and loan you will not be making 3k a month

I am not sure why you would pay cash for the purchase.  You can buy 4 properties with the 76k using 20% down through the bank.

 Robert, i sent you a request, i am interested in this double, can you get me the info please.

Do not cheap out on a roof, put architectural shingles on and get it over with.  Trust me.

If you think Zillow is a accurate source for pricing houses, especially in Buffalo, then you should not be in the real estate field in any way.