All Forum Posts by: Hunter Ferrari

Attached below is the BP Calculator Report for a deal I am working on. I am in need of someone who can fund the down payment and closing costs in exchange for equity in the deal. I will handle all property management and other services. Rents have a lot of room to grow. Currently bringing in $16,725 a month but could be $18,000 or more!

Message or text me for more info. (304) 541-2113

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Does Easy Street offer DSCR?

This property has two, 3 bed/2 bath apartments and then two commercial spaces that are rented by long term tenants. Price is $445,000 and will not need any rehab.

 Buying multifamily investment properties. Looking for something with a lower down payment, preferably 20-30 year term, and a fixed rate. The bank I am working with currently has been offering 15%, 20 year, arms that change every 5 years. I will primarily be investing in the Charleston and Huntington areas. 

Who are the best lenders to use in West Virginia? 

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $176,500
Cash invested: $26,000

This is a property that has loads of potential and is my best find yet! It is a commercial building that is completely vacant in the lower half of the building. The second story has four units, two - two bedroom, one bath, and one - one bedroom, one bath. All four units are occupied and will automatically cashflow the entire property. On the main floor we plan to add an ADU, rent out another portion of the building to a business, and rent out the garage. All of that is just bonus money!

What made you interested in investing in this type of deal?

I believe that multi-family is the way to go! I also have been on the hunt to find something with ADU potential. This property cashflowed without even considering the options on the first floor.

How did you find this deal and how did you negotiate it?

MLS. I am a real estate agent. When I scheduled the showing the other agent and property owner were both there. We negotiated the purchase price on the spot!

How did you finance this deal?

Conventional financing.

How did you add value to the deal?

So far I have not. I will be adding a fifth unit to the lower half of the building.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am an agent! Call me today to start investing in Charleston, WV! (304) 541-2113

Hey Alex, I am a real estate agent in Charleston and also invest in the area. I currently own a triplex in Nitro and just bought a single family home in Huntington. I have a quadriplex in Nitro under contract that has commercial space on the main floor. I would look to meet with you sometime to talk more about the rental market in the Charleston area! 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $69,900
Cash invested: $5,000

Two bed - one bath, single family home in Huntington. Two blocks away from Marshall University's football stadium and downtown campus.

What made you interested in investing in this type of deal?

It is in a college town and will be easy to keep rented. Also, has potential to add an ADU.

How did you find this deal and how did you negotiate it?

Friend contacted me for the off market deal.

How did you finance this deal?

Seller financing

How did you add value to the deal?

Nothing yet! But will do an ADU

Lessons learned? Challenges?

Always check the wiring before buying appliances!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am an agent!

Hey BP, 

I just bought my first property and I am looking to use it as a long long term hold. What I am looking for by posting this is some advice on what my options are to get this property refinanced within the next five years. I am going to give the details of the purchase just to highlight where I am starting so you can help be figure out where I need to be. 

Purchase Price: $130,000

Out of Pocket (Down Payment & Closing) : $14, 290

Monthly Income: $1,615

Expenses (Mortgage, Taxes, Insurance, CapEx, Repairs, Vacancy, Management): $1,493

Cashflow: $122

CoC: 10.16%

Loan was owner financed with a 15 year term at 3% interest but there is a balloon payment after 5 years. 

My biggest concern is getting to the point that I can refinance the property within 5 years. I have good credit but an abundance of student loan debt (THANKS LAW SCHOOL) so I am looking for any advice on how to manage this situation moving forward. 

Closing was Dec. 31, 2020 and balloon is due December 15, 2026.

I appreciate any and all comments!! Thank you!