All Forum Posts by: Gregg Heminger

 Oleg,

There is a team that will stay with us after we acquire the property.

 Absolutely - there is a staff and resident maintenance.  

Seth Williams 

Thank you for the reply.  I appreciate those thoughts and ideas.  Working with any lender, especially one that is changing loan officers frequently has proven complicated.

Have a great week!

Okay - closed on our first 4-plex last August and now we are looking at an opportunity to expand rapidly into a 70 door apartment complex.  The seller has offered to put up approx half of the down-payment, we have $100k, but still need something in the neighborhood of $200k.  It will be a very solid investment - any thoughts on how you've structured loans with subordinate creditors, and how you approached investors regarding terms would be super helpful.

Thanks BP!

Thank you Mike M!

Hi all!

We have made it through the first 4 months of a nice 4-plex and are ready to make an offer on another unit in town. We have a lead on a nice property that is a VA loan - complete with assumption possibility. Both my son and I are veterans with plenty of room on our benefits, but are running into an issue with the seller's lender not wanting to allow us to assume. It is through USAA - does anyone have any experience when dealing with USAA on such a mortgage? If so, please enlighten us.

Thank you.

Thanks Collin - I've been quietly listening to all of the ideas you put out as well as all the others on BP.  It is invaluable.  Putting steps to our dreams puts them in motion.

Our little family venture dreams to move from our first property (Aug 18) to 100 doors within a couple years.  My son and our wives (really my son and I :)) are analyzing, studying, and reviewing properties regularly.  I've reached out to a couple people here in Fairbanks, Alaska to begin networking together.  

Your story is inspiring - appreciate you you sharing!

Thanks Tyler - Just closed!  So excited - and kind of nauseous at the same time.  

25 - cannot live in it. 

 Whitney - we will self-manage to start. Our goal is to follow a plan of identifying another solid property and then run some numbers and make an offer. 

Within the next 4-8 months we will try to buy the second.