All Forum Posts by: Levi T.

Two recent MF deals we did located in NOVA. $840 a door for 10 unit building, and we are doing a little over $300 per door on the 34 unit with capital returned, and debt services on both.

We are fully vertical company. It’s the little things that add up. Im more interested in SF in bulk than MF.. my goal is to buy 100 SF units this year, with the long term goal of 1,000 per year. 

Not related to NJ, but most utility providers RTO service (Return To Owner). If the tenant ever turns off the service it falls back to the owner.

We do this with all our utilities.ask your provider about it, normally they have a form or something you have to fill out. If tenant fails to turn on service into their name, bill them.

I have some SF units pulling $900 or more per door with debt. If your doing low volume of deals I look for larger dollar per door, where is at higher volume I’m happy with $200+ per door with debt. That’s reallly where I like being, I rather buy 100 doors at $200 per door, than 10 for $900... get decent cashflow today, and the wealth tomorrow type thing.

We buy dozens of SF units each month in one arm of my real estate business, which can include the low volume hard rehabs, or high volume turkey style properties.

At the sametime I’m also investing my cash into MF directly myself, or via syndications. 

All you got in this world is time and money, it’s up to you to decide how you want to spend it. 😉

@Greg Scully agreed.

Your best value is the ability to earn income without you having to focus on it. Hiring a PM company will allow you to focus on your life, and your next investment, vs trying to hunt down rents, repairs, vendor payments, tenant evictions, learning the laws, and the ropes of the business of property management.

Yes, as well as SFH.

Maybe others know if you can house hack a duplex or quad using a 30 year fix resident loan, but end of the day commercial is where everyone ends up once they exhaust residential loan options. 

@Kareem Lewis

The problem with commercial loans is there is no market for the notes on the backend for the bank to unload to someone else.. thus you see arms on loans, it gives them an exit or adjustment point.

Most local banks will do 20 year loan with 5 year arm. You would then need to ReFi in about 12 months to get your money back.

If you don’t have the downpayment cash, you get Limited Partners. As long as the LP don’t own more than 10-20% (each bank has their own rules), you would be the only guarantor.

If you choose the LP route, it’s best you learn about syndicating and SEC rules to avoid any legal problems.

Good luck!

In Italy, tenant evictions can get suspended for 6 or 18 months, if the tenant is unemployed, is over the age of 65, or has 5 or more children.

It’s not clear if they would be required to catch-up on payments after the period, or just keep paying as if they never missed a payment.

France, and most the region has some of the same laws... I have a friend who has a house he rents out in the UK, that experienced issues for about a year or two. You can normally get them out in a few months to a year, but it’s like playing cat and mouse.

5/5 arm.. ouch! I’d look for a 20/5 arm, which is normal, and get a credit line on the back, or self financed the improvements. 

You need to talk to an attorney. You need to pay off the judgment, or possible bankruptcy.

I see these a lot with the deals we do... someone has a judgment, it leans on everything. It will keep blocking you, and gobbling up money till it’s repaid.

You will need to get an attorney and see if bankruptcy is a good idea.. in any events, your like locked out for 7-10 years, maybe more if they renew.

That’s common. If tenants signed the documents, the landlord can sign them at any point if he wants or not... he could also be double copying, meaning tenants have a copy with his signature, and he has one with theirs, he just never signed his copy.

I like units with expired leases, let’s us set the rules on our own terms and prices right out the gate. Instant forced appreciation.