All Forum Posts by: Kalib Williams

How is an apartment complex appraised after a renovation in a brrrr situation? Is the the cap rate that was originally used to buy the property how the appraiser will value the property after it has been renovated and stabilized with higher rents, or will the cap rate compress with a renovation and a higher noi?

Hello BP, Does anyone have experience with USDA commercial multifamily loans ? The 538 and 515? Can anyone detail the approval process, reserve and experience requirements? Thanks!

@J. Henriquez wow Thankyou so much, I will definitely follow up on this

Is there a way I can buy 2 duplexes located right beside each other being sold by the same seller with 1fha loan?

Thanks

Does anyone know how the Freddie Mac Home Possible Affordable Seconds program works? What are the guidelines?

@Marc Rice how does refinancing a home with down payment assistance lien on it work? After 1 year or 6 months to get out of mip if the house has appreciated and was bought under market in the beginning ?

@Marc Rice thanks for the advice, i will definetly give it a try 

Hello BP, I recently got approved to purchase a quadplex for 275k but Iwas only approved when they included the rental income from the other units. The property was renovated and then put directly back on the market, it is almost brand new and doesnt have any tenants in it currently. My loan officer said for me to be able to close I would have to have a tenant lease agreement in place for the other 3 units. Is this possible or even legal? Can I advertise a unit for rent as soon as I place the house under contract or do I need to wait until close. Would I need permission from the current owner and possibly a larger earnest money deposit? Plan on placing the units under section 8. FMR for each unit would be 842$

If I buy a house with a FHA loan but I buy the house 80 cents on the dollar, this already having 20% equity, do I have to pay MIP?

@Joe Fenten Hi Joe, Im Kalib, I live here in the upstate as well and Im looking to begin my RE career as well!