All Forum Posts by: Joshua Hall

I am looking for information on how long it typically takes to sell multi family apartment buildings. I have been a real estate investor for 20+ years. I currently specialize in single family rentals. I am looking to expand into multi family. I am at the part of my due diligence where I am thinking about exit strategies. My question is regarding the selling of multi family apartment buildings. Specifically, is it possible to determine how long it takes to sell? With single family real estate, you can look at average days on market and sales price In a given area. From that, I can determine pretty accurately, how long it will take me to sell a property. I know that Multi family units are valued differently; Their valuation isn’t largely based on revenue as opposed to comps. Does this mean there is a different perspective when it comes to predicting how long it will take to sell a multi family building? Typically, I can sell a single family home at the right price within the time of the average days on market for other houses on that area. I am looking for the commercial real estate equivalent. Any help would be greatly appreciated.

Hi Becky, I am a real estate investor in Frisco. I specialize in buy/hold/ rent properties in North Dallas, The Colony, and Frisco. If you see any below market properties that need a rehab that your not interested in feel free to send them my way.

Can't do that with IRA funds. It's a prohibited transaction.

Good Afternoon; I am an investor in north Dallas looking for a non recourse loan for two single family residences. My self directed IRA wholly owns a single family residence with no liens. I've owned it for two and half years with great rental history and only 1 month of vacancy in that time. The house is valued at 165K. It rents for 1325/mo. I am looking to purchase another property valued at $150K . This unit will rent for $1800 per month. However, This new acquisition has a roof that is need of repair, thereby preventing it from qualifying for common financing. My goal is to acquire non recourse financing to make this new purchase(at $120K) and use both homes as collateral for the loan. Using both homes for collateral at 65% LTV will cover the acquisition/repair cost of the new property. The problem I'm running into is that lenders don't want to lend on a property with a roof in disrepair. They want it repaired before closing. If this was possible, this property would have sold by now. Does anyone out there know of a non recourse lender that would be able to make this loan without requiring the roof to be repaired before closing? Any thoughts are greatly appreciated. Thank you.

My partner and I own single family rentals through our LLC.

Our LLC paid cash for these properties and they are producing positive returns. We would like to finance these properties to free up capital.

I have called my local bank that I've been doing business with for years and they informed me, they can not finance Single Family Residences owned by corporations. 

Is there a law against this, or is this just my banks policy?  Are there other avenues for financing these rentals and, if so, are the interest rates competitive?

Thanks,

Josh

I have several Single Family Residences in my portfolio and I am looking to make the jump to either a Self-Storage facility or Multi-Family facility as my next investment.