All Forum Posts by: Ethan Wilson

 8 units, 700k purchase price!

Hey everyone! I'm in Huntsville, AL working on an apartment deal with some partners down in Laredo, TX. It's a fantastic property with a ton of potential, and we've negotiated some great terms to buy it seller financed with 4% interest. We've got it under contract, and our last piece is to find funding for the down payment. 

We're able to structure it as debt or equity, and while we raise rents, bill back utilities, and take it under better management, we're able to offer a great return to our investor/partner. Does anyone have a recommendation for where to go or who to reach out to who would be interested in helping us get this deal done?

Thanks!

Welcome Kayla! Check out TN Valley REI and Madison County REIA for monthly meetups. Great chances to learn about investing here and meet plenty of people.

Wanted to see if anyone had any recommendations for lenders for a mobile home park for a new investor, thanks!

 I appreciate everyone's feedback! 

Nick, the reason for the LTV is my low liquidity and lack of experience. I only have one SF deal under my belt, and don't have a whole lot of cash saved up right now, especially for a commercial deal.

Hey everyone!

Wanted to get some thoughts/advice on this - I'm looking at a investing in a mobile home park (purchase price will be around 550k). After all expenses, it cash flows almost 4k per month half the year, and $4,500 the other half (seasonal lawn care that the current owner has in place). However, I only qualified for a loan of 65%, leaving me to come up with 35% down, which I don't have. I've tried to look into some private / hard money loans, but borrowing that much money seems to eat up almost all the cash flow. 

Does anyone have any thoughts about different ways to fund or structure the deal? The owner has already turned down seller financing.

I appreciate any thoughts and feedback!

Thanks

Hey guys, I'm looking at my buying my first SF home for a house-hack. It needs a good amount of work, and I don't have much experience with estimating rehab costs. Would it be best to find a general contractor who could come walk the property with me and give an estimate before I make an offer? Or what is some advice to avoid under/overestimating these costs? Thanks!

Hey guys! Does anyone know a good contractor who would walk a property with me and give a fair quote? I'm looking to buy my first SF and am trying to accurately estimate repairs.

Thanks!