All Forum Posts by: LaTonya Johnson

Michael Burks Excellent post! I totally understand what you’re saying about the sales funnel. Right now I’m checking out Charles Dobens with The Multifamily Investing Academy. Check it out and let me know what you think. I’m currently looking for off- market deals that are no further than 2.5 hours from Houston.

Thank you dearly @Jessica Zolotorofe!  

@Jessica Zolotorofe, correct.  I am initialing each page.  I know that my full signature requires my title and the name of the company.

Thanks for your response @Daria B.

Quick question, when initialing documents on behalf of an LLC, do I initial my name or do I have to add my title and the company name? I’m initialing the bottom of a Commercial Purchase Contract. Thanks in advance for your feedback.

@Tyler Watts the seller is willing to finance for $100,000 down, and wants to cash out in a year. I believe that’s reasonable, but I’ll add a clause to cash out later if necessary. The rehab costs consists of $2000/unit to cost to paint and spruce up the exterior. I actually need about $32,000 but I added $20,000 for additional repairs. You’re recommendation to double it is advice that I’ll definitely implement.

@tyler watts the units are in good condition and only need make ready type maintenance. I do plan to add make it superior to what’s available now, which is only one other apartment complex that has a 6 month waiting list.

Patrice Penda the owner and his partner bought and sold several apartment complexes, and this is the last one in their inventory. He explained that this property is just their red-headed step child and they never gave the property any attention. I lucked up!

Awesome question! I just posted a request for advise in structuring a 16 unit apt complex that is truly a value add, and I receive valuable information from this post. Thank you all.

I’m looking for help with structuring a deal for a 16 unit apt complex. The asking price is $399,000, and the property needs about $52,000 in repairs. The seller is willing to finance a portion of the deal with $100,000 down. The owner owes $435,000 to a private lender who is super flexible. I’m thinking of proposing a wraparound mortgage for $299,000 with a 7-8% interest. Any and all recommendations are requested. Not sure if the interest rate is reasonable.

Ethan G., I’m responding on my cell and it won’t allow me to message you. But i have a deal that I’d like to discuss with you.