All Forum Posts by: Dulce Beltran

@Brett Goldsmith Thank you, I have asked these questions to one of the lender's I am vetting. I wanted to get BP's personal experience and which way you have structured your mortgages for Multifamily's using a commercial lender. 

@Ron S Thank you, I will look for the wording in the lending docs!

Hi BP! As I’m going through the process of purchasing a multi +5 units under an LLC and obtaining a mortgage, according to lender building qualifies for mortgage not myself and a personal guarantee would be needed. Worst case scenario, what happens if the property goes into foreclosure? Does my personal credit get dinged or the LLC gets the bad record in turn causing the LLC to go bankrupt? The LLC would be dissolved if it goes bankrupt right?

@Account Closed More information on the Broker, I am an agent and also the buyer. 

Interviewing Commercial Broker's to purchase large Multi, what questions have you found reveal important details that one may not initial consider? 

We're in need of a Commercial Broker with experience in identifying good deals for multi's and has knowledge of the market (cap rates, vacancies, etc). Who would you recommend for Houston, TX?

@Juan Vargas Houston in general, what type of investment classes do you invest in? SFR, Multi's?

@Juan Vargas I agree with you on the Midwest and am curious on your thoughts on your neighborhood of Houston? We're looking to purchase a Multi and our focus is cash flow, do you invest in your backyard or out of state? 

Greg Scott thanks! It will be refinanced in 2 years, that’s why the high leverage is preferred.

Hey BP! I’m looking to purchase a property with Seller financing. For Instance, purchase price $550K with Escrow, Title, and Listing Agent fees. How is the promissory note look like and how do the fees get paid? Out of pocket for the Seller fees (Escrow, Title, and Agent). Sales a price $550K w/2.5% down at a rate of 4% with a balloon payment in 5 years.

Ellis Hammond San Diego is an appreciating market not a cash flowing market. To see a better cash flow you need anywhere from 30-40% down. Our short supply in housing is not only pushing home prices up, its also directly forcing rental increases. The rental amounts have more stabilized increase rather then a purchase. I work with Keller Williams and would be happy to refer you to my commercial colleague that specifically deals with MF. They’re actively working with Seller’s off market properties and can attest they look for them daily as I am there also looking for Single Family detached sellers.