All Forum Posts by: James E.

@Cody DeLong your DTI shouldn't really matter since you'll be getting a commercial loan. Have you talked to any local banks / brokers yet? Usually the best deals are with smaller credit unions / banks. I would just start calling around and see what programs they have.

Hi @Tory Kelliher - try Chad Macomber

chad.macomber at gmail.com 

@Adrian Salazar so once you get the addresses, you can pretty easily get the owner of record from either the town / county assessor and the registry of deeds. That will usually get you an LLC name. From there, most LLC's have the human owner of the LLC listed as a manager, which you can find on the sec of state website.

My vote - compile the list of addresses and then go to upwork.com and hire a cheap freelancer to help you skiptrace the rest of the info you're looking for (I would try to find LLC manager name, LLC resident agent name, address and phone numbers for manager / resident agent, and then linkedin / facebook for the manager).

Hi @Brien Tal-Baker - could you please PM me with some more details? I may be interested / know of a few reputable investors + lenders who may be interested in this. 

@Jon Ostojic 

It varies per market as you were saying. You also may be in the case where some utilities (electric) could be billed back, where others (water, heat) you may have to eat. This depends on:

1. Your market - do you end up more profitable if you charge back utilities with a lower rent, or you paying utilities and bump rent payments up. You can do some secret shopping around and just look on craigslist / redfin etc. for apartments for rent nearby and see if they're including utilities in rent. 

2. If some utilities are not already separated, you'd need to see what the cost to separate would be and do the math on how that would impact your cash flow and valuation.

@Nick Earls you should come by our meetup in a few weeks - it's a good group of MFH investors and good representation across the state. 

https://www.biggerpockets.com/forums/521/topics/552319-boston-multifamily-investor-meetup

Well it would bring the cash flow on the refi'd unit down, but you're going to get (hopefully) more cash flow from the next unit you buy, right? So you'll be going from 200 / mo total on one property to *what number* total / mo on 2 properties. Doing a cash out refi will always bring your cash flow down since your mortgage payments will be going up, but it's a great way to access your capital and put it back to work on another property.

Where is this?

@Josue Velney  I think we met at @Justin Silverio meetup - looking forward to chatting again!

@Dan Pezzano not sure exactly what you're looking for in response, but if you can find a good deal I'd let it rip. You may want to come chat at our meetup on Wednesday the 25th - there are a lot of Boston area MFH investors who may have properties there and can help you get a feel for the market.

 https://www.biggerpockets.com/forums/521/topics/55...