All Forum Posts by: Joe Delgado

@Chase Coley, check out Batchleads.com

@David Vanlandingham, sorry David. That wasn't for you.

@David Vanlandingham, Check out Batchleads.com

Hello and thanks for the welcome and replies. Can anyone recommend a commercial lender? I am trying to compare rates and terms. I have one lender who is offering the fees and terms below:

Investor Real-Estate Purchase: • Rates as low as 3.0% for Apartments (Typically 3.75-5%)
• Terms up to 20 years term (yes, 20 years in some cases)
• Amortizations up to 30 years (30 years is common for apartments, less common for others)
• The buyer needs to put down 25%, making the Loan to Value 75% on these projects
• Non recourse and recourse options
• NNN Lease properties (single tenant is ok)
• Pre-payment penalties Yes. Sometimes it is a yield maintenance, other times it is 5% in year 1, 4% in year 2, 3% in year 3, 2% in year 4 and 1% in year 5. Prepay coincides with the fixed term.
Estimated Bank Fee's: • 1% origination fee
• $500 doc fee (est)
• Title Work TBD
• Appraisal $2000-$3000
• Environmental $0-$2000 (depending on search)
Broker Engagement Agreement: • $5000

**Are these typical fees? The "Broker Engagement" fee seems a bit high. Any thoughts??

Thanks for your support. 

Thanks gents. I will take you on your offer to answer some of my newbie questions. Coming soon!!

Hi Sean. How are you doing with the wholesaling business? 

Hello BP family. This is Joe Delgado and I am investing in multi family properties using the BRRRR method. I'm looking to connect with agents, wholesalers, contractors, attorneys, lenders and property managers. I'm looking to invest south and east of Bridgeport CT (including Bridgeport). If interested, let's connect.

Hello Family. My name is Joe Delgado and I am a low voltage cabling technician who was born and raised in NYC. I've owned 2 properties that was used for my primary residence. I sold one and living in the 2nd. I am looking to purchase multi-family properties to hold and to start building a rental property portfolio. My 5 year goal is to own an apartment building of 20 units (seems like a stretch, but I'm reaching high) I would like to invest in the NYC market since I know this market the best but it is very expensive. I look forward to networking. Wishing you success... Joe Delgado, NYC Newbie.