All Forum Posts by: H. Jack Miller

There are all kinds of ways to get creative with this, We made a great YouTube and put it on the Gelt Financial channel. But some of them include blanket mortgages, Seller seconds, and buying properties under market value.

1 Vote

New York City, New York

If its a good enough deal, you can get it done. I don't think I can self promote on here. But we do JV equity deals all the time where we put up the debt and the equity. It really all comes down to the deal

3 Votes

New York City, New York

Quote from @Mona B.:

Hi! I’m hoping to receive some guidance on the following as it’s been difficult to figure out:

What would the role or title be of a person that completes preliminary analysis of multifamily / commercial properties (i.e.: completing “quick & dirty” & REFM analysis) and they want to present deals to an investor or investors – but they haven’t developed their own team (as a developing novice), have 2 years of experience in analyzing, and don’t have enough capital to contribute to a partnership or syndication (their only available capital is currently below $7k).

What role or title could that person have? How would you structure them into the deal if you decide to move forward with their lead – and how would you incorporate the compensation for such?? I’m not sure if this would still fall under a “finder’s fee,” as they’re doing more by completing an analysis.

Would appreciate any experience/guidance with handling the above. Thanks in advance!

If you dont have money, you need to have expertise. With expertise, you can get deals and money.... Make yourself an expect, add value to people with money. You can do it

1 Vote

Orlando, Florida

Quote from @Dylan H.:

Quote from @H. Jack Miller:

I am not sure I understand the question if your income is 200k you should quality for most investment mortgages. With investment lending the property will support itself and lenders will look at the property first and the guarantor as a fallback.

Thx for your reply, I am looking into purchasing a portfolio that already cashflows well the question was more about how to leverage my w2 income instead of having lenders look at property, look at my income to support the income property already produces

Its both, the lenders will look at the property first, with your income second as a back up. If the property is a border line approval, your income will help it cross the finish line

1 Vote

Quote from @David S.:

Quote from @H. Jack Miller:

There are a ton of variable here. But lets throw something out just to get this started and you can adjust the numbers.

Lets assume you have a 40% expanse load that would leave 60% or an NOI of 71k, lets assume a 7.5% cap rate, that would put the value at 944k.

You can change the math as you see fit, a lender maybe look at the seasoning of the project and only use your basis, this will depend on the lender and how long you have the project for before you refinance it.

Sounds like an exciting project. Good luck with it

Thank you for the feedback. I assume the 40 percent is operating expense (management fees, vacancy, trash pick up, ect). I was thinking that my operating expenses would be considered closer to 15 percent. Is this unreasonable to expect? I need the project to appraise around 1.2 million.

Also what is a cost basis real estate appraisal? Is that when they use market comps instead of income based? Because of the lack of seasoning of the property and leases is it unlikely they give me an income only basis appraisal? Thanks.

15% sounds extremely low over a period of time. Make sure you count in capital improvements, repairs ect. Sometimes you wont have these sometimes you will. But over time they will be there

0 Votes

Baltimore, Maryland

Congratulations, your ahead of the game already. I agree, keep it simple buy something for 200k 1-4 unit, near you, but 25% down. In 10 years it will make you a fortune.

1 Vote

There are a ton of variable here. But lets throw something out just to get this started and you can adjust the numbers.

Lets assume you have a 40% expanse load that would leave 60% or an NOI of 71k, lets assume a 7.5% cap rate, that would put the value at 944k.

Sounds like an exciting project. Good luck with it

0 Votes

Baltimore, Maryland

Quote from @Ryan Kelly:

@Jack Miller selling makes you money, holding makes you wealthy.

100% agree. I am a buy and hold forever guy. I love the way you put it.

0 Votes

Quote from @Larry Turowski:

I am both.

I enjoy flipping more than holding. It knocks the socks of holding as far as returns go. But flips are not easy to come by or always easy to execute (sometime they are). Plus I really like being liquid. Having cash for flips means I can jump on deals. Having cash means I can weather storms. Having cash give me the cash to put into the next buy-and-hold.

Buy and holds give me predictability and better scalability. Flips give me cash. Now I've got to start flipping apartment complexes.

thanks for comments and thoughts

1 Vote

All Forum Posts by: H. Jack Miller

H. Jack Miller has started 20 posts and replied 229 times.

Post: How'd this guy get a commercial loan without paying down payment?

Post: How'd this guy get a commercial loan without paying down payment?

Post: 50+ units without being rich or partnering?

Post: “Acquisitions specialist”; an “Asset Manager”??? …don’t know : /

Post: High income earner options for REI

Post: Appraisal of a commercial apartment complex

Post: 100k to invest looking for direction

Post: Appraisal of a commercial apartment complex

Post: Are you a Buy and Hold Investor or Buy and Sell Investor and why?

Post: Are you a Buy and Hold Investor or Buy and Sell Investor and why?