All Forum Posts by: Jason Magee

Hi @Andrew Slater I'm a bit late to this post. How'd the negotiations go? 

You found the 'need' so-to-speak where the seller is looking to sell to replace their income without having to manage. I'd start with what they were making before and what they'd need to make to be happy. 

Between the down payment, mortgage and interest, you have the opportunity to make the seller more than whole while getting a great deal.

Looks like you're local. I'd love to connect and chat real estate!

Jason 

Hi BP Community! I am looking to refinance a few properties I own: Duplex in Harrisonburg, VA and two townhouses in Norfolk, VA.

Could anyone recommend a lender or bank that I should be considering? I'm looking for 25-30 year fixed through a registered company, not in my personal name. I raise this as I'm not interested in purchasing in our name and then moving the loan to an LLC, I'd rather have it all transpire in one of our LLCs.

Although I'm open to working with any lender regardless of location, I'd prefer if it were in Charlottesville, Harrisonburg, Richmond, Virginia Beach or Norfolk.

Thank you very much in advance!

Jason 

Thank you very much! Will do! 

Hi BP Community! I am looking to refinance a few properties I own: Duplex in Harrisonburg, VA and two townhouses in Norfolk, VA.

Could anyone recommend a lender or bank that I should be considering? I'm looking for 25-30 year fixed through a registered company, not in my personal name. I raise this as I'm not interested in purchasing in our name and then moving the loan to an LLC, I'd rather have it all transpire in one of our LLCs.

Although I'm open to working with any lender regardless of location, I'd prefer if it were in Charlottesville, Harrisonburg, Richmond, Virginia Beach or Norfolk. 

Thank you very much in advance!

Jason 

Hi @Nick McCandless - I agree, all this help is why BP is awesome! I'm trying to tag a few folks here that I'd recommend but it's not letting me tag them. Perhaps it's because they aren't on this thread?

Feel free to PM me and I can make a couple recommendations.

Jason 

Hi @Robert Rodriguez I highly recommend not only Norfolk but also Sec 8. I work closely with @Patti Robertson of a few Sec 8 rentals and couldn't recommend that market, Sec 8 or Patti more.

Happy to answer any questions I can as well.

@Mark Vandzura I got the address of the property and the address where the property taxes are mailed which includes out of state addresses. 

I also got # of units but my city doesn't keep very clean records on that so a lot of them say zero units which obviously is incorrect.

Hi @Mark Vandzura,

As a follow up on this, @Shawn C. told me about ListSource which is a great resource and their customer service (via email) is incredible. They claim to cover 95% of the country so if they cover your city you will get all the info you need.

Unfortunately, ListSource didn't have data on my particular city (it's a small city without a county so it's a bit unique) but I took other folks' advice and I called the tax assessor's office and they provide the data to me for free in excel. 

The data came in a couple excel files so I had to do some maneuvering to get the data aligned. 

I'd recommend calling your tax assessor's office and offer to pay them - I bet they won't charge you or even if they do, it won't be much.

Good luck!

Jason 

Thanks for the help, @Shawn C.. Just sent you an invite to connect. Luckily, I'm not investing in Austin so hopefully we learn more from each other than have to compete! 

Catch up soon via email. 

@Shawn C. Great to meet a fellow Austinite! 

That's a great idea. Do you mind sharing with me how to get such a refined list - especially one with owners being out of state? I've read about this and heard it brought up in podcasts here on BP but I haven't thought about doing it for multi-family. 

I'd appreciate any advice you can give on the subject. Maybe we can meet up for coffee/lunch some time - my treat!

Thanks again for your help.