All Forum Posts by: Hiron Fernando

@gregdickerson thanks. We will have full control of the HOA since we will be majority owner, so that will lower our risk.

My partner and I are under contract on a 30+ unit fractured condo deal in DFW. Obviously, we are in the middle of an interesting time and I want to make sure our financial model is modeling everything conservatively. We are still under 3rd party financing contingency, collection seems to be strong (according to broker) and we are getting a new roof, and some credits. 

This is our first big MF (I've done 20+ SF deals though) so would anyone with strong MF financial modeling experience be willing to spend 30 min to look through our financial model and give us feedback?

Thank you in advance. 

I'm looking for these types of properties too. I've seen a few deals come across my desk, what are you specifically looking for?

Mine went from $1000 land to $177k in Fort Worth!!

@shahdan calcuttawalla 

I am curious about this too. Have you don this in the last year, if so I am interested to hear your thoughts.

Awesome post here Andrew. Thank you! 

Do you have any more insight about lines 7,14,and19? I'm wondering about those questions, if it's a rehab, vs. roof replacement or just a make ready, where should those expenses go? 

Thanks for taking the time to do this review. Its helpful! 

I would be interested in this too, I have the same issue with agents that do large multi-family, that may have smaller stuff come up every now and then, but not neccesarily specializing in them.

I am from Dallas and would say you should use caution investing in South Dallas or Fairpark. They are what I would say Class D areas. Especially being remote and your first time, it might be hard to invest in such a rough area. There are parts of Fort Worth that are decent. Maybe not as good cash flow wise as South Dallas, but if the tenant doesn't pay for 2 months of the year, it really doesn't matter.

I think you can still buy property in that price range, but it probably needs to be purchase price. You will need to save up more for the rehab. I regularly see properties for $110k +. I would suggest you start looking now, in the mean time save up a bit more and jump once you find the right deal. You can find these deals in parts of Fort Worth, Watuaga, etc.