All Forum Posts by: Dave DeMarinis

@Helena Wu I think duplex/triplex/quadplex are all more similar to each other than anyone is to SIngle Family when it comes to the rents and expenses.

All that said, rents have really increased, making more room to creat small multi family product that can command over $800/mo which is kind of a threshold number. However, the market’s love for Small Multi is probably pushing up prices even more than rents …

I do occasionally get small multi properties and almost always sell them because the market still loves them more than I do. If you’d like me to add you to my email list, dm your email.

@Margo Fairchild

Sorry - just saw this but I have been able to get involved with Richmond over the past year. It is a great market.

How is your journey going?

Is anyone using Stessa for Bookkeeping/Accounting and Buildium for Property Management? Can you generate a report in Buildium to download a CSV file to upload transactions to Stessa via the Stessa CSC uploader? Can you generate custom reports in Buildium to match the Stessa required format?

I’m mostly in the Midwest and southeast. I’m a lender (hard/private/bridge) and a heavy value add investor. I was the lender on a Multifamily in Dayton and the borrower defaulted so I took over the property. It was a massive stabilization project and that is how I got pulled into the Dayton market. I really like the investor community and environment there so I am growing there.

I went to school in Columbus and would definitely invest there but I’m not actively searching. I’m in a couple high growth markets in South Carolina and Alabama that are my focus for growth.

Cleveland and Dayton are about 3 hours apart and pretty different markets. I assume you are looking for a real estate broker (vs. a booker :-) - if you have a little more specifics about what you need, I can try to refer you to someone who can help.

I think Dayton is WAY better for you than Sandusky AND it is closer. If you can hit 1% in Columbus, those should be good deals and make you very happy. 

If you decide to include Dayton, you will need to learn the areas and neighborhoods but there are definitely better cash flowing deals there. There is a very active and helpful and large investor community in Dayton as well.

@Ryan Wydler Be sure to make it clear it is owner occupied. That will rule out a number of Hard/Private/Bridge lenders. However, some will have an extra hoop or two but probably still interested to do it. What type of loan is the current loan on it?

DM me as I have a few ideas.

If you pay all your bills on time and keep your utilized revolving credit low, this will not be your problem. DTI is probably 1000X more likely to limit your ability to get a loan than credit pulls associated with all the loans you have gotten and are paying. Even when that happens (barring being in the middle of a global pandemic that completely shuts down the non-QM market) you will turn to investor and portfolio loans where the rental property and its economics are the primary factor in getting the loan. You could also use one of those loans as a blanket loan to put 10 or 20 properties on one loan and start the whole thing over again.

Are you local to Huntsville? $50K purchase price or all in at $50K? What type of rent are you hoping/planning to get? I'm very active as an investor and lender in Huntsville. This year, I finally started selling some properties this year as our acquisition and renovation pipelines really ramped up. I'm in a handful of markets in the midwest and southeast and I'm a huge fan of Huntsville.

It sounds like you don't have much knowledge or experience in the note business. If that is the case, you need to gather that WAY before learning how to raise money. As stated, using other's money is a huge responsibility and shouldn't be taken lightly. Raising money is definitely and important talent but the cart should not be before the horse.