All Forum Posts by: Jason S.

Hi Courtney,

There are NO dumb questions!! It all depends on the property location IMO. Having said that I use $100/door or 12% Cash on Cash Return, 1.3 or higher DCR, and a CAP rate near or above 8% to get my strike price. For example, if the market place is over priced I would have to come in with an strike price of 60-70% lower then the asking price. If the property has been sitting for a while or gone through a price reduction, I make the offer.

Hope this helps. 

@Account Closed - Thanks! That's what I am doing...Sounds like I am on the right track! 

@Bill F. - A coach, set those numbers as a criteria that investors would want to see when investing their money upon purchase. 

@Joe Villeneuve Where are you finding those deals?!?

Hi All! First of all, I'm loving this community. So many active and knowledgeable people! It's awesome!! Okay so, there's a lot of talk about, "getting/finding a good deal". To me a great deal in a multi-family apartment building (+5) would be: CAP Rate >= 8% CoC Return >= 12% DTI >= 1.6 Now, good luck finding that on the market. So, what are the next best numbers for Multi-family on the market? What numbers do you need to hit?

starting new topic...good deal bad deal! watch for it. :)

Hi @Jay Hinrichs I like that idea! I have actually thought about doing that...thanks!

@Henry LiChi - Exactly...thank you for the kind words. I will take you advise and attend as many meetups as possible. I am willing to do whatever it takes to succeed. If that means taking out the trash, sweeping the floors, getting the coffee, whatever I will do it! I want this to be my second job and to succeed to where I can pay off my debt but more importantly give back to my community. Thanks again!

Hi all, Again, I appreciate the concern for my personal lifestyle. However no one here knows how I live. For all you know I could live in a cardboard box. This forum is about loans or creative financing to get your first deal. Thank you.

@Dave Skow - Hi Dave.  I tried applying for various (commercial and residential) real estate loans.   No, I don't own a home, I rent.