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All Forum Posts by: Dave S.

Dave S. has started 9 posts and replied 21 times.

Post: JV Role segmentation

Dave S.Posted
  • Investor
  • Scottsdale, AZ
  • Posts 21
  • Votes 4

Hi! Quick question. Has anyone out there created or have access to a detailed list of all the tasks broken down for a JV, from acquisition to disposition and everything in between. For example, main categories of deal flow, finance, value add, property management etc and punch list of items for each broad category? Just trying to be as specific in allocating tasks in a JV LLC agreement to hold people accountable. Thanks! Dave

Post: Multifamily Cold Calls

Dave S.Posted
  • Investor
  • Scottsdale, AZ
  • Posts 21
  • Votes 4

Hi. I wish I could tell you I had better luck but it didn’t. That doesn’t mean I wouldn’t encourage you to try your market. I mainly focused on multi family and mobile home parks in the state of Washington and Arizona which are heavily sought after markets. It wasn’t fruitless but it’s a very low percentage game. Just like anything else I think a multi tiered approach to marketing is best. Sending letters driving by neighborhoods cold calling referrals etc.

Post: Seller carry down payment

Dave S.Posted
  • Investor
  • Scottsdale, AZ
  • Posts 21
  • Votes 4

Hi,

Hope all is well! I have called several banks in my area trying to find one that will do seller carry on commercial deals. I know lending is tight but if anyone is aware of a creative solution or lender aside from hard money that will allow a seller carry for 10-15% of the down payment please let me know. Thanks! Dave

Post: Multifamily Cold Calls

Dave S.Posted
  • Investor
  • Scottsdale, AZ
  • Posts 21
  • Votes 4

I hope so. I am about to start my own efforts so I will let you know how it goes!

Post: Multifamily Cold Calls

Dave S.Posted
  • Investor
  • Scottsdale, AZ
  • Posts 21
  • Votes 4

Hi,

Just reading up on cold calling MF' owners, about to start my journey with that. I know this post was a few years back. Just curious, did this end up yielding results for you or did you pivot to another lead generation source? Thankyou! Dave

Post: Looking for a Multifamily calculator

Dave S.Posted
  • Investor
  • Scottsdale, AZ
  • Posts 21
  • Votes 4

Really cool stuff Nick! Thanks for the connection!

Post: Looking for a Multifamily calculator

Dave S.Posted
  • Investor
  • Scottsdale, AZ
  • Posts 21
  • Votes 4

Thanks! I wasn't aware of the Synthesis or Joe Fairless option. I think the options listed will give me a nice blend of what I need. Appreciate it! Dave

Post: Looking for a Multifamily calculator

Dave S.Posted
  • Investor
  • Scottsdale, AZ
  • Posts 21
  • Votes 4

Hi BP group! Looking for a solid calculator to analyze multifamily deals. Please let me know if you are aware of a resource or one for purchase. Would be great if something was geared toward joint venture deals as well. Thanks! Dave

Post: Rental income increases DTI ratio

Dave S.Posted
  • Investor
  • Scottsdale, AZ
  • Posts 21
  • Votes 4

Hi Matt. In my experience if you have two years of rental income with at least one property they can begin taking the income from other properties as soon as you have leases.

Post: Rental income increases DTI ratio

Dave S.Posted
  • Investor
  • Scottsdale, AZ
  • Posts 21
  • Votes 4
Originally posted by @Dave S.:

Hi all. I have a question about a future problem I see with DTI ratio. As one's portfolio grows so does income obviously which is a great thing. Just wondering how people work around how banks look at rental income taking a 25% haircut. For example, if you have $200,000 a year in gross rents and a bank only allows 75% of that then you are penalized on $50,000 a year. Depending on one's other sources of income that can be a substantial hurdle. If anyone has thoughts on a different solution aside from earning another $50,000 a year in income to continue to purchase rental properties and keeping that ratio in line I would love to hear them! Thanks in advance. Dave