All Forum Posts by: Dominick Dahmen

@Scott McElhaney Sadly no. New investor.

I'm looking at a 44 space MHP. It's offering price is $1,350,000, and net income is $106,000. So a 7.8% cap rate. The thing is that the rents are considerably below market (according to seller which I need to verify) 315 and market is 475. What is interesting is they have put together essentially a 4 year plan to increase values to $176,000 without filling the 12 vacant lots. This would include metering water and raising rents to 475 over a few years.

It seems like they are partially valuing the park on the future profitability of the park (which isn't guaranteed). Maybe the park isn't as nice as the other one in the area?

Does anyone have any suggestions or input?

@John Warren The only reason it crossed my mind was I got a financing quote from zillow for 3% and 3.5% FHA for the 19 unit. I figured it was just a template, but worth it to ask.

Does anyone know if there are conventional ways to get a low down payment on commercial property? Or is it all creative like seller carry the down payment etc.?

I'm thinking for a 19 unit apartment and possibly mobile home park.

This property I am looking at is early 1900's. The pro forma shows 10% for maintenance and repairs. Would you include capital expenditures in that? Or add an additional 5-10%?

Hello everyone,

I'm looking to get started in real estate, but don't have money for a down payment or can't get a mortgage. I'm great at analyzing deals. Should I get the deal first or the funding?

And if I get the deal first, do I need to put in under contract before I look for the funding?

Thank you!

Anyone have any experience or want to move houses in Minnesota?

@Tim Swierczek i don't know if it's a "proposal" per se, but I've studied real estate for a solid 2 or 3 years but now I need some action. I don't have money to start, but I can find and analyze good deals. I'm also good at doing things I'm told and that way I can learn about the processes. I can bring hustle and time (which would include looking at and analyzing good deals) where someone else brings the cash.

Just a thought.

Hello. I am looking to get started in real estate (Again) and I was wondering if there is anyone that would finance a newbie investor to learn the ropes and make a nice return for each party?

the building was built in 1900 but it looks pretty good overall. Even if they aren't metered separately, wouldn't the other tenants pay more to have their utilities covered by the landlord?