All Forum Posts by: Jane Johanson

@David Lichten thanks. I would love to connect.

@Dan Weber fantastic. Thanks for the reach out!

I have an opportunity to purchase a 6 unit multi fam plus single fam (both on same in-town lot) with long term rental history in the waterfront city of Rockland Maine.   I know the town well.   I currently own a single family in town.   My question:   With only one deal under my belt, how best to get a 15-20 year loan with 10-20% down on a $500k purchase?   Any thoughts much appreciated!!

First off -- Thank you @Chris Svendsen and @John Leavelle.  Let me explain the deal.   Purchase price is for 2 lots plus one home.   The home is in decent condition needs in my estimation about $20k to get it rentable for $1500/month.    During the initial loan period, my goal would be to subdivide the second property (have been given a verbal ok on this by the city zoning)   and then put a prefab up which will also yield $1500/month.    The cost of the prefab is coming in initially at $150k.   Need to do more research on more cost effective options.  My initial report probably doesnt reflect these numbers.    I have rerun and have attached.         View report

View report

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

You could always try to add value with staging the apartment in a modern style to appeal most broadly then take pics that you will have for the future.    Either that or lower the price.