All Forum Posts by: Devan Mcclish

@Tom Shepard I would agree. Prices here have gotten really expensive. Good deals are hard to find, which is why I have changed strategies to multifamily. Less competition and cap rates haven't decreased at the rate sfh prices have increased

@Everett Marshall you can put it under contract and double close. Obtain transactional funding for the first transaction, turn around and close again with your buyer and pick up the spread 

@Scott Weaner I am a multifamily investor in Nashville, have you heard of any deals??

I have read quite a few threads on here about different direct mail marketing strategies to multifamily properties. I am about to send out mailers of my own. I have seen some people use white letters professionally typed, postcards, and yellow letters. Which one would be the best to use and focus on for multifamily property 4-20 units.

@Rob Foglia I will be calling you tomorrow! Welcome to BP, and I look forward to talking to you

i'm curious as to what your criteria is going to be for this direct mail marketing. If someone could provide some feedback on their criteria for direct mail marketing to multifamily property, that would be great. I will following this closely because I am trying to do the same thing 

@Sean S. we are currently looking for anything from 4-20 units. We do not have a track record since we are making the transition from single family to multifamily.

I am currently looking to connect with a commercial broker in Nashville, TN who specializes in multifamily property. Does anyone know of any brokers in the Nashville area?

Banks loan conventional financing based on the purchase price or ARV, whichever is lower. So In this scenario they would lend 80% of the 170k. Most banks do not cover repairs in their financing, that will be on you. Your down payment will be 34k. If the ARV is 240k it shouldn't appraise for 200k, it should appraise for 240k. Appraisals are primarily based on comps

What criteria should I follow when marketing to multifamily owners? and where do I find a list that fits that criteria? Is listsource a good site for that?