All Forum Posts by: Eric Healy

Hello, I'm looking at buying a solid cash flowing 4 plex and was wondering if anyone has experience with a traditional lender that does 20% down, 30year loans on residential investment properties (not commertial property loans). All I'm seeing is 25% to 30%. I found a really good property that's just out of my reach at 25%. I'm not looking to occupy it either. 

Thanks!

Eric

thank you everyone for the advice!

Thanks for your comments Wayne, I didn't go into the reasons for wanting to back out but basically the construction has been delayed and due to closing on our current home on time, my family will now have to spent several weeks in a hotel. There are other properties that we could buy and close on immediately. There is actually an inspection clause, its just that the "inspection period" was set months before the place was even built that seems odd. Also, this is not a custom home, its a cookie-cutter townhouse.

I have 15k in escrow. I do have a financing clause but I do qualify for the loan. Thanks 

Hello,

I'm in a of a bit if a situation and was hoping someone here might have an answer. I have been under contract for a few months now for a new townhouse that is currently being built. I need the option to get out of the deal now and thought I could use the inspection contingency. Looking at the paper work, it says it must be used with in 7days from mutual acceptance. Well this 7 days passed long ago but the townhouse isn't even done yet. How is this possible? Shouldn't the 7 days start once its complete? You cant inspect a house that doesn't exist yet. Any help or advice would be much appreciate as I do not want to loose my escrow money. If it helps, I'm in Washington state. 

Thanks!

Eric

Hi, I'm currently looking for my second multifamily in the NW. I bought my first in Central Oregon a few years ago and its cash flowing nicely. Now that prices have rebound I'm having trouble finding anything that could cash flow. I live in Seattle and would like it to be within a days drive, so Oregon or Washington. Does anyone have any advice for areas to look in or any other ideas/comments?

Thanks!

Eric

Hi I'm new to BP. I'm just starting out in real estat and was wondering what the best way to find good deals in multi family properties. I live in the Puget Sound area and I'm looking for a good cash flowing property. The brokers I have talked to don't really seem to get it. The last one I talked to explained to me that cash flow isn't important. Any suggestions would be appreciated!