All Forum Posts by: Jeff Chapz

@Joseph Gozlan - I'll certainly reach out to you and buy you a beer sir for being so helpful.

@Ryan Oldenhage - I have no problem calling and conferencing you in, this way you can be part of meetings. Send me a PM and I'll share my info with you. Thanks for the good vibe sir!

@Saberian Younger - I'm will send you a pm with my info and hopefully we can grab a cup of coffee and talk some real estate soon.

@David Thompson - sir, it is always a pleasure hearing from you. Unfortunately I never had the opportunity to exchange numbers with you during the Tuesdays lunch meetings, but I'll send you that info in a few mins. By the way, I recently heard your 2 podcasts with Kevin Bupp and when you speak you share this positive energy - that I'm pumped and ready for podcast #3 :-) I'll be more that happy to meet with you... coffee is on me.

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Quick update to the rest: so far I have about 13 people interested in getting together and I think it will be easier if I pick a place and we can all just meet there. 

Also, I've been asked if we could meet this or next Saturday -- Stay tune for more details. 

Hello world, @Joseph Gozlan - you are the man. Thanks for the link. I think we are going to need some like you to be part of the team. Keep me in mind if you a nice deal :-)

To the rest who already sent me PMs - I replied to all of you. I'm very excited to put a group together where we can motivate and help each other to be better investors.

Cheers,

Jeff.

Hello world, I've studying and still being mentored by a great person who now owns over 40+ doors here in Austin. I've also been making offers in multifamily buildings (15 to 30) units, but opportunities keep slipping away, mainly because sellers are asking too much for their properties in the Austin and surroundings area. I'm looking for properties where I can add value by rehabbing older buildings and provide fresh looking apartments to qualified tenants.

With that said, I would like to start a small group in the Austin, Round Rock, Cedar Park, Texas area. I want to meet with new and experienced investors who want to analyze deals daily/weekly. If you don't know how to analyze deals.... I'll teach you, if you know more than I do... please educate me.

Either way I'm looking for friend$ that can add value to the meeting$. I need friends that are living, eating and dreaming multifamily building$ 24/7.... If that's you - please send me a pm. I'll be interested in meeting with you first to see if you and I can be a good fit. Once we have a group of 5, 10 or 15 serious people, we'll start doing home work, picking up the phone and calling brokers, we'll drive to the properties together and have face to face meetings or conference calls at night. 

How can you add value to this group? Well imagine we bump into a 2 mil building and there are 10 of us and we have to come up with 20% down to get things going... can you see yourself being part of that opportunity?

I'm NOT asking for money and I'm NOT selling anything.  I'm just looking for friends that think alike.

Send me a pm and let's talk some real estate.

Thanks,

Jeff.

Hello Mark, please send me pm, I'm interested if we can help one another.

Regards,

Jeff.

Hi James, I didn't get a chance to go through the process so I was never told an interest rate #. I always under write with 5% in mind and with taxes - I always add a little more to the current tax number since they go up and up every year. Always under write very conservative, in other words always prepare to pay more for interest, taxes, insurance and at least 4k a year in maintenance per door. Never assume low numbers and never use the informatio from the seller as accurate info. Check check check and double check.

Gents, I want to thank you all for your ideas and info. I reached out to a local mortgage broker and I was able to find a 15% down for 20yr loan, but on the other hand the two 4-plexes I was trying to buy went under contract and the opportunity simply slipped away.

Bottom line - yes you can find a loan with 15% down and 20 yrs. One broker told me 15% and 15 yr loan but that was going to put my cash flow in the negative numbers :-(

Thanks again.

Jeff.

Hello gents, Yes I spoke with two mortgage brokers and neither one can offer what I'm looking for. However, I was give two other names that I'll call tomorrow or Monday.

Thanks for your time and suggestions.

Jeff.

Hello, I found an opportunity to purchase two 4 plexes from one owner. My mentor heard of a person who purchased a 4 plex in the past with 15% down for 20 years.

Can someone tell me of a bank in Austin, TX that will lend under those terms?

I thank you in advance.

Jeff.

Thank you very much for the info and your time. 

Regards,

Jeff.

Hello team, we submitted an LOI about 3 weeks ago on a multi family (15 units) property and we heard from the seller last night. He gave us a reasonable price and my wife and I would like to move forward. However, we would like to know if we can get an FHA loan to buy this property. We are willing to move and live there for a year or more as long as we get the 3.5% for down payment. Can someone tell me if that option is available for us? or if there other similar options for us to put down very little in order to aquire this property?

If the option to buy on my own is available... I want to try that first before raising money. Please let me know. I thank you in advance.