All Forum Posts by: Israel Flores

Hello everyone! TIA for any insight here. A bit of background I am trying to decide whether to sell my current home or keep it for different reasons.

Option 1- Sell the house and pay off majority of debt we have from the proceeds around $90k. 

Option 2- Do a cash out refi and pull around $50k max of funds to put towards debt but be able to keep the home as an investment property. Property would at least break even or cash flow about $100. Location is great, good schools, neighborhood etc..

On the one hand we would really like to clear out our debt we owe but on the other hand we feel we might be losing an opportunity keeping the home as a great investment. Or perhaps we are missing another option. 

@Elise Marquette  Houston Tx area

@Jonathan Taylor Thank you and will do!

I have clients that are looking to purchase a small office unit around $300k, but need a non conventional loan due to their taxes being in limbo over some issue. Great credit and income but can't use last years taxes for qualifying. I know there are lenders that do some non conventional loans (bank statements etc) for residential but are there any that do the same for Commercial Loans?

@Patricia Steiner Thats a good point, and I would agree that having actual rent amounts, current status, and lease terms known is huge if its tenant occupied. Thanks for the insight!

@Matt Devincenzo  Yes I have noticed that, and for my clients part if its a 4 plex or under its not going commercial so the lender doesnt care about cap rate per se and cares more about the comps which I can run easily. Its the bigger properties with 6-10 units that we have trouble getting financials for it seems like. I still like to get as much info for my clients as possible.

@Dustin Allen Thank you. I do get some basic info and other times agents provide full financials. I guess its just like residential sales where some agents are more detailed than others. 

Hello! First post here, I have been a RE Agent for 10years but just now getting into multifamily and light commercial. I am currently helping a client find & purchase a 2-4plex, but I am finding many owners/agents not providing financials, rent rolls, or info needed to determine a cap rate even after asking. Is this normal? 
Wondering how my client can make an informed decision without some of this info or do we just pass on those properties? 
Any insight would be appreciated!

TIA! - Israel