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All Forum Posts by: Account Closed

Account Closed has started 2 posts and replied 115 times.

Post: Large Multifamily Acquisition - 236 Units

Account ClosedPosted
  • Investor
  • Fort Worth, TX
  • Posts 120
  • Votes 146

@Andy Crooks Thank you! 

It's a bridge lender - we typically use these on properties that aren't stabilized.  We'll refi into an agency loan in the next 18-24 months.

Sounds like you have some experience with the closing cost rollercoaster :)

Post: Large Multifamily Acquisition - 236 Units

Account ClosedPosted
  • Investor
  • Fort Worth, TX
  • Posts 120
  • Votes 146

@Beyazid Yunus

Thank you for your kind words! 

There are a lot of factors to consider when picking the right market before you reach out to brokers, but I'll add one of the most important tips here - there are plenty of listings out there for large MF deals - but they are typically overpriced and/or you'll end up in a bidding war and won't be able to make the numbers work.  The harsh truth - commercial brokers won't give you the time of day on pocket listings unless they are confident you have the ability to raise the funds to close the deal.  We realized early on it made sense to find a coach who had a big portfolio and was willing to partner and coach us through the process so we could gain access to solid deal flow.  Before we had a big player as a partner we would even lose the deal to someone who offered less but the seller was confident in their track record and ability to close.  The good news is once you get your first couple of deals done and are building a track record, you'll have brokers calling you with listings (<-- this is the sweet spot!). Hope this helps - feel free to PM me if you have more questions or need clarity on what I said above.

Post: Large Multifamily Acquisition - 236 Units

Account ClosedPosted
  • Investor
  • Fort Worth, TX
  • Posts 120
  • Votes 146

@Kaelyn Motzel Thank you so much!

Post: Large Multifamily Acquisition - 236 Units

Account ClosedPosted
  • Investor
  • Fort Worth, TX
  • Posts 120
  • Votes 146

@Travis Hanson thank you! Looks like you definitely know it’s a great market too πŸ˜‰

Post: Large Multifamily Acquisition - 236 Units

Account ClosedPosted
  • Investor
  • Fort Worth, TX
  • Posts 120
  • Votes 146

@Mason Moreland thanks Mason! So looking forward to the new venture with you and the team! I have a feeling the lending will be less challenging πŸ˜„

Post: Large Multifamily Acquisition - 236 Units

Account ClosedPosted
  • Investor
  • Fort Worth, TX
  • Posts 120
  • Votes 146

@Randy Connolly thank you so much!

Post: Large Multifamily Acquisition - 236 Units

Account ClosedPosted
  • Investor
  • Fort Worth, TX
  • Posts 120
  • Votes 146

@Dmitriy Fomichenko Thank you! We're certainly excited about it as well.

Post: Large Multifamily Acquisition - 236 Units

Account ClosedPosted
  • Investor
  • Fort Worth, TX
  • Posts 120
  • Votes 146

@Melissa Bains Awesome!!

Post: Large Multifamily Acquisition - 236 Units

Account ClosedPosted
  • Investor
  • Fort Worth, TX
  • Posts 120
  • Votes 146

@Bruce Lynn Thank you and yes you're correct - now the real work begins! :)