All Forum Posts by: Joseph Wells

This is fantastic and encouraging for fellow NC investors. Deals can still be achieved through perseverance! A conventional loan with 5% down sounds pretty amazing as well! Did you receive that loan through the lender you work for? 

So I am somewhat new to Real Estate Investing strategies other than House Hacking. After House Hacking 3 different homes using traditional funding in Raleigh, NC, I have found myself in a bit of a conundrum and would love any tips or advice. My current primary was purchased with the intentions of house hacking and renting it out to tenants. I have resided in the home slightly over 2 years and refinanced last year to take advantage of the low interest rates. I am now in the process of prepping this home to be rented and while in the midst of a repair have learned that the home will need approximately $25k of work. My initial thought was to simply BRRR the home once I move out, but I am hesitant since I just refinanced last year and know the new interest rates if I were to refi this year again will kill my potential cash flow when I rent. Are there any creative loans available or strategies I could implement to proceed with repairs other than BRRR?

Thank you for the reply gentlemen. Yes @Mark Allen Kenny, I should have been more clear in my question. I am referring to the preferred return only here. Based on both responses, I'm guessing 6% is low. Is a preferred return of 10% a more standard expectation?

I am somewhat new to Real Estate Investing. I currently own a few SFR's that provide me cashflow but have a goal for 2020 to acquire a multifamily or ideally an apartment building with a few investors. Can anyone shed light on the expected return that I should anticipate to provide to the limited partner's? I have seen a few that provide a 6% return. Is that good or fair or is it standard for LP's to obtain a higher return? I am in the state of NC if that helps determine apartment location as well. Thanks guys!