All Forum Posts by: Justin Morris

Well the loan will be on all 6 properties with one single mortgage payment. I want the software to show each individually but also as a whole, if that makes sense..

I am looking for a spreadsheet that will look professional when finished. I want to analyze 6 properties at one time to show the future cash flows. I am applying for a blanket mortgage for all six properties and I would really like this to look good. Any help would be greatly appreciated. Perhaps with graphs and future appreciation, how fast equity can build, things like that, also be able to show the monthly expenses incurred also.

See, my difference is that I am trying to get a bank loan for the majority of the price and get the landlord to finance whatever down-payment the bank wants.

Yes, all houses have been very well taken care of. I know the old landlord personally and I know he takes care of his properties and has excellent tenants. Like I said, the houses are in a not so great part of town but even so the landlord has a list of people wanting to rent his properties as they become available. 

Ok, so I have a question and can' seem to find the answer anywhere on Google. An older landlord contacted me about selling 5 of his properties, we live in a smaller town and they are in a not-so-great part of town, He is wanting 50K per house, there is also another house I've been looking at that has great potential and I can get that seller down to 100K. I have done the math, and the total rent for all six properties comes out to about 3700 per month with expenses running about $2100 per month. My question is would a bank be willing to do one large blanket loan to buy all six properties if I can agree to get the older landlord to self Finance whatever down payment the bank needs. I have a very  wealthy father  with perfect credit who will be willing to cosign with me.I live in Kentucky if this helps, just trying to get started so if anyone can help me please do so.

Thanks

Justin

I am a 26 year old college student from Hopkinsville, KY, about 45 minutes north of Nashville. I am in the process of renovating my first rental home and would really like to get involved with other real estate investors and possibly find a mentor to teach me. I currently run a small guttering company but my goal is to make a living entirely off of real estate.

I've always been very interested in real estate and joined to try to learn as much as I can about the subject.