All Forum Posts by: Francois Frigon

I'm a new RE investor and now forming my "A Team".  I just met with a great Commercial RE agent which will now help me on my "first" offer & probable purchase -> seeking a 21 units apt complex here in San Antonio.

My next team member will be a financial advisor to guide me with Financing, Taxes and 401K usage impact (withdraw & penalties).

I'm shooting for a possible purchase in the summer timeframe !

Wash.  It would give 1 year to "test" the property.  If not good after first year, I would back out of the deal and loose my $15k down payment.

that would equal to a 6percent yearly rate on the agreed sell price (pay evenly over a 12 month period)

well, for the first year, I plan to simply lease his property for about $2900 per month.  I will run the operation and the rents.  A year later, I will have the 25percent for a conventional loan....

Does this make sense?

Using my bonus money coming in Feb (about $50k), I plan to offer the seller:

* $15k cash (offer is $715k and I'm hoping for a deal of $650k)

* Fist year -> Master Lease Agreement (I will offer him 6% of the sell price)

* Following year, I plan to get a conventional loan

we'll see..

1Q16 is my target to purchase my first apt complex.

I'm currently looking at The Flats at Olmos which is a 76 units complex....   No offer made yet

Hi, my name is Francois and I'm married with 2 kids.

Seeking to purchase my first apt complex here in San Antonio