All Forum Posts by: Abdullah Al-mamoon

I'll come there to view the properties.  I like the cap rates and it's very attractive.  Just the age of the properties is a downside and I need to understand the tenant demand and mix better.  I need to be in a position of cash flow more than appreciation.   It looks very promising so far

Did you ever close on this one?

Also I talked with the agent today he said it would take 6 million to close.  Owner is selling the whole portfolio so there's multiple like these

Unless I'm reading it wrong its just a loopnet listing. you're right i can't find the 7 million closing request. It must of been a different property but everthing else is right.  idk if i'm suppose to put links in the forum but the listing details is below. its a deal i think.  I still have get enough money together to close.

And the owner is selling everything so overall he probably will discount it more if someone buys everything. I'm not connected enough yet to put that money together but I will try.

118 Apartments and 1 CommercialPlus$23,799,000 $19,386,000 $16, 720,000 Apartment Complex $6,000,000 Below Value for Quick SalePartially exempt from Rent Control Discount For Quick Sale Desperate/Must Sell 9% CAP RECESSION PROOF INVESTMENT-TRUE HEDGE AGAINST INFLATION$9,884,381LOAN AT 3.65% FINANCING FOR 7 MORE YEARS DUE JUNE2030 CURRENTY AT FIRST REPUBLIC BANK. BUYER MAY TAKE "SUBJECT TO" IF THEY ELECT TO DO SO.Government guaranteed rentwhich is exempt from rent control.35% Upside in the RentsNostalgicbuildingin great downtown Oakland area near Lake MerrittExistingCap9%,Market Cap14%ExistingCashonCash Return13.5%MarketCash on Cash Return25%Existing GrossRentMultiplier7.6MarketGross Rent Multiplier5.6HighgrowthcityandareainfluencinggreatappreciationpotentialNodeferredmaintenance-EasyManagementStrongRentUpside.TroublefreeincomeandmanagementOpportunity Zone

I was looking at an apartment building 100 units for 17 million with a 10 cap. I think i need 7 million to close on this property but I need gather financing for the closing and down payment. In the bay area i'm looking for REI clubs. I am trying to reach out to local bank to see if they can give any options. What is a good way to find possible investors for this property in San Francisco. Is there some loan product or solution that I should look into to try and get enough for this property?

what about the age of the homes and the maintenance costs?

why ohio why is it better than other states?

Sounds Google I"ll try to contact you.  Is there loans that cover the land and construction cost at the same time that are interest only?

Usually DSCR loans should have a value of 1 or higher at least.  But for a loan in a good city to approved i think it has to have income to cover the mortgage and the expenses.  From looking at a lot of areas like San Francisco to qualify for a DSCR loan you would have to put down a 50% or more down payment.  Is there cities where a low cost is possible to qualify for a DSCR loan?  Because if you can make a 50% down payment it just seems that it is better to invest in other properties requiring less cash

Does anyone know good real estate groups and investing clubs in the san francisco area.   I am searching for clubs to join so i can see what other investors in the area are doing and look for deal the have