All Forum Posts by: Donny Widjaja

I am investing some money with Holdfolio and they will try to give at least 8% return.

@Jim Oliphant I totally agree with you.  I don't want to spend any money before confirming those actual numbers from the seller.

@Account Closed what do you consider a reserve expense? Anything else do I need to know other than CapEx?

I've been looking at some multifamily (from 5 to 20 units) and practicing to analyze those deals with BP's calculator.

When I find a deal that fit my criteria, should I check for the real numbers from the seller first?  or should I do the inspection and appraisal first?

If you've have done some multifamily purchase, can you share what process did you take?  

Thanks.

I think you should start calling those local banks or credit union because each bank has their own terms.  I don't think the one I called mentioned anything about balloon loan.  some banks has a minimum $1 million, but other banks can go down to $100,000.

@Abraham Anderson, 

I just talked to a local credit union.  For commercial, they will give a minimum $1 million loan and they have 25 or 30 years term but it will be amortized.  Just like what @Kaz M. mentioned above.

I would like to get more information on BP members' credibility on who has done some real estate deals in the forum.  This might require the member to send proof that they have rental properties, previous contract agreements, etc.  This is like having a "verified" user in other social media sites.

Hi  @Gina Martin ,  I am new at multi-family, and I'm also looking for a lender who can work with me.  I start making some phone calls to local banks that handle commercial loan and help you in your unique situation.  Biggerpockets also have hard money lenders: https://www.biggerpockets.com/hardmoneylenders

Hard money lenders might not be best option for long term, but it you are in a time crunch to close the deal.  You might be able to work with a hard money lender and refinance later.

@Yeshudas Nair, the most popular cities in Texas are Austin, Houston, Dallas, or San Antonio.

Houston, TX has been very popular with foreign investors from China.  I've been told that some of the investors from China, will put a million dollar to buy rental properties, primary residence, and a small business.  So, their kids can go to school and live off the income from rentals and small business.

If I have a million dollar, I would invest some of it on a smaller apartment complex.

Check out http://www.loopnet.com/ for apartment listing.

These days people are savvy and comfortable using technology.  So, I posted my property online with some photos, so I don't have to meet with everyone who wants to look at the property. I also posted an old fashion sign in the lawn.