All Forum Posts by: Josh Bowser

I will add - the most likely lender for this is a local bank if the loan amount will be under $1mm in the town/neighboring towns by the park.

Hey Tammy - what is the NOI, PP, and location? Feel free to reach out to the contact info in my bio

Hey Craig - I would highly recommend chatting to the RE professionals in these areas to really get a handle of what is going on in each individual market, and what is realistically achievable right now. 

From all of the places I have been to on this list, I am most intrigued by Tampa. I was just there this past weekend and it is absolutely booming.

Atlanta is not on your list, but happy to give some insight there as well if you're interested. 

Hey Welsh - 600k commercial loan will likely have some pretty rough terms unless you can find a way to get a hud loan on the property OR have a really good existing relationship with a local bank. Local banks are requiring significant deposits (8-10%) in an operating account at their bank as well if they are going to originate and hold the loan on their sheet. 

There are a few more banks in GA, but outside of the ATL metro have quoted me at Prime + 50-100bps with a 10 year term / 25 year am. The further out banks like the opportunity to lend within the ATL metro as it is the main economic center of GA. Keep in mind these are adjustable after some period of time like Randal had mentioned.

Incredible!!

Holy rip - this looks awesome!

What are the chances it is on one of the streams / lakes?

Hey Carlos - house hacking a MF is a great idea if you can comfortably afford it! 

As you mentioned, it is important to have your personal finances in order before you start to buy investment property. If your rent is cheap, and allows you to stack some cash then I wouldn't be in too much of a hurry either. 

When you're ready to buy a property to house hack, I would make sure it is in a property that you would be okay with living in for a while AND owning over the long haul!

Hey Shaun - reach out in the DMs. Interested to hear you situation. One of my GC connections might be able to help

Hey Rickey!

Being that you are in a HCOL area and are pretty young I would seriously consider house hacking where you live currently if you plan on being there for a while. Reason being, you will likely not be able to generate enough cashflow in the MW or SE to make an impact on your ability to save money compared to what you can do if you house hack.

The beauty about house hacking locally as it is a hedge against your market's cost of living, AND you will more than likely pay less than what you would if you are renting.

I wouldn't be too worried about finding a multifamily property either. Try to find the nicest SFH that you can comfortably afford and rent out the extra bedrooms.

Feel free to reach out if you have any questions - I am a fellow house hacker!

Hey Diya!

Excited to see you take up an interest in BRRRRs.

The most important thing is finding a team that can help you execute. When you're looking for investment properties out of state, you HAVE to know/like/trust the RE professionals you are working with. For your first, one I would recommend working with a great general contractor that can keep timelines and stay on budget for the rehab! 

Here in the ATL, BRRRRs are tough to make cashflow right now. The key to success has been taking the shotgun approach and making a bunch of offers at the price that makes sense for your business plan. It is rare to see properties cashflow at list price currently.

Feel free to reach out in the DMs or at the contact info in my bio. Happy to share anything that I can to help!