All Forum Posts by: Keegan Schaub
Keegan Schaub has started 22 posts and replied 54 times.
Post: Residential or Commercial? Advice
- Realtor
- Portland, OR
- Posts 56
- Votes 37
What would people recommend I pursue, commercial or residential broker?
Context: I just moved to Portland, OR and finally decided to pivot careers from healthcare into real estate. I am halfway through licensing. I have experience investing (own 2 STRs and an assisted living home+business). I am financially free with ~$10-17k/mo cashflow. I have no social sphere or contacts family or friends in Oregon (I don’t know anyone besides my fiancée).
Goals: continue to have flexible schedule while enjoying what I do (selling real estate) and making good money. Continue to scale my personal RE investments and learn!
Thanks!
Post: Need Help Finding Land Value for Cost Segregation, Tucson AZ
- Realtor
- Portland, OR
- Posts 56
- Votes 37
Hi, I have a home I just acquired and my accountant and I are having trouble finding an accurate 'land value' assessment for a cost segregation report. The county assessor has it as $502 but says that is a placeholder for all land values in the Pima County area.
Our next option is to find a RE professional who can perform a limited scope land appraisal by pulling land comps from the area.
Is this the usual process to find land values in the Tucson, Phoenix area?? If so, are there any RE professionals on BP who can help me out with the land appraisal comps?
Thank You
Post: Need help! Need hard money loan for business + RE deal cash cow assisted living home!
- Realtor
- Portland, OR
- Posts 56
- Votes 37
Quote from @Joseph Coleman:
@Keegan Schaub how much do you need to put down on the property? Do you think the seller would be interested in an earnout structure or seller financing? $80k seems to be relatively small compared to the amount they will make from the sale. And an earnout could help you offset a lot of risk associated with a business purchase.
the seller is already financing $140k. She is unwillingly to finance any more.
Post: Need help! Need hard money loan for business + RE deal cash cow assisted living home!
- Realtor
- Portland, OR
- Posts 56
- Votes 37
Quote from @Brandon Croucier:
I might have a PML but they would want collateral.
I have 15-20% equity in two rental homes that bring in ~$6k/mo. Would this help?
Post: Need help! Need hard money loan for business + RE deal cash cow assisted living home!
- Realtor
- Portland, OR
- Posts 56
- Votes 37
My two rental properties apparently go under my DTI….
Post: Need help! Need hard money loan for business + RE deal cash cow assisted living home!
- Realtor
- Portland, OR
- Posts 56
- Votes 37
Quote from @Elias Halvorson:
Hey Keegan,
Have you considered a personal loan? Very low fees and probably equal or better rate - I have gotten 80K personal loans from SOFI. I can DM you a link if you'd like. Rates probably around 10-13%, you can stretch it to 72 months, low origination fees (like 300-500 total in fees)
I have already tried. My personal DTI is too high.
Post: Need help! Need hard money loan for business + RE deal cash cow assisted living home!
- Realtor
- Portland, OR
- Posts 56
- Votes 37
I am acquiring an assisted living home (RE+business).
RE appraised for $1,320,000
Business for $80k.
I have the RE portion already financed through banks but am needing $80k for the business to get the deal done.
I’m looking for $80k short term loan for at least 6 months so that I have enough time to get a more stabilized business loan. Banks are requiring I own the business for 90 days before getting a business loan. Therefore I need to close the deal, then own the business for 90 days to secure long term financing.
The home is currently cashflowing ~$10k/mo.
I’m free all day today to talk on phone. Currently under contract and have 2 weeks to get the business financed.
Post: Lake Travis near Austin, TX and Hill Country
- Realtor
- Portland, OR
- Posts 56
- Votes 37
Quote from @January Johnson:
I'm an agent with Avery Carl's The Short Term Shop, and we have recently expanded into the Texas Hill County (we are also in Galveston/Crystal Beach in Texas). If you'd like to contact our agent there, her name is Stacey Lancaster, and her email address is the same as mine (Stacey @...). She can tell you lots of details!
Can you dm me her email? Thanks!
Post: Lake Travis near Austin, TX and Hill Country
- Realtor
- Portland, OR
- Posts 56
- Votes 37
Post: Lake Travis near Austin, TX and Hill Country
- Realtor
- Portland, OR
- Posts 56
- Votes 37
Hi, I have a subto + sellerFi deal off market from a wholesaler located on Lake Travis in a non STR restricted area.
I’m out of state and have never been to TX or this area. Wondering what people think of the vacation rental market on Lake Travis?
looks like it is between Austin, TX and TX hill country so seems like it would yield good ADR/occupancy for most of the year?
Any help would be appreciated!