All Forum Posts by: Corey Hoeft

Does anyone have a very detailed analysis tool (excel docuemnt) for multi family investing? I'm looking to buy an 8- unit apartment building and I want to ensure I'm doing thorough enough due diligence. Ideally, it would help me decide if fix n flip or buy and hold is the best strategy. Thanks in advance. 

Does anyone have a very detailed analysis tool (excel docuemnt) for multi family investing? I'm looking to buy an 8- unit apartment building and I want to ensure I'm doing thorough enough due diligence. Ideally, it would help me decide if fix n flip or buy and hold is the best strategy. Thanks in advance. 

@Erik

Thank you for your response. I appreciate your insights, and I agree with the points you've made. That's why I specifically used the term "around 9%"—to allow flexibility in negotiations based on the lender's comfort level. I have previously secured financing for 75% ARV, including rehabilitation costs, on another property, and I am aiming to replicate that success here. While I am not a lender or an expert, I value your perspective and recognize that your opinion is likely more accurate than my own experience.

@Erik Estradaundefined

Property has an as is value of $400k-$450k

Currently is 100% rented and occupied.

Current rental rates are $4,515, but 15%-20% under market, $7400 once rehab is completed.

ARV is $750K.

It needs $150k-$200K of rehab.

Looking for a 8-12 month loan for $550k-$600k (purchase price and rehab) that would be in 1st position at an interest rate of around 9%

Will do a traditional refinance with a bank once rehab is complete and rental rates are raised and in place.

Property is in Ames, IA within walking distance of Iowa State University.

Property has an as is value of $400k-$450k 

Currently is 100% rented and occupied. 

Current rental rates are $4,515, but 15%-20% under market, $7400 once rehab is completed.

ARV is $750K.

It needs $150k-$200K of rehab. 

Looking for a 8-12 month loan for $550k-$600k (purchase price and rehab) that would be in 1st position at an interest rate of around 9%

Will do a traditional refinance with a bank once rehab is complete and rental rates are raised and in place. 

Property is in Ames, IA within walking distance of Iowa State University.