All Forum Posts by: Erik Hatch

@John Warren

How big of a deal can you afford?

@Sean Zhang as @Erik W. has stated there are various ways to fund this deal. I would like to see your due diligence. There is a lot more to this than the numbers you provided. For example, what is the neighborhood like? Is this a single family home or multifamily with 5 or more units? What is the cost of the value add? As stated by Erik, this could perhaps work as a partnership.

@Forrest Faulconer I would be interested to hear what’s happening in OK for the reasons you mentioned

Try to go big enough to where part of the cash flow pays for professional management. Focus on increasing the noi. 

Walter

Also it’s generally easier to get funding when you have5 or more units. It becomes a commercial loan which is tied more to property performance thank based on your personal credit

How are the jobs in that area? What does unemployment look like?

Add value and increase NOI. Cash out refi.

Good credit and references outside of friends. Must vet and verify. 

Financing is much easier. The property is the risk and not so much the signer.