All Forum Posts by: Luis Maqueira

Shane 

Call me I was a mortgage broker back in the day. I know what to ask,  and that is the important part they all get the money from the same source so pricing is base on the business you bring to them.

Service is definitely a plus,  and I meant the person that talks to you should now what to ask you, to give you the best loan for you not for the bank.

I just got DSCR Interest only (why put the money in the walls you can't use equity, worst you will get charged fees to ask for your own money back??????) terms up to you 10 year fix is good enough for me we will refi before or Sale.

open to chat any time I messaged you

Luis 

Multifamily Partners

we are cashing out one 3 of our multifamily in Southeast Florida.

I have done some homework, let's chat. 

But I am curious if the rate is good and fees are good ...  you are getting debt from them. 

What is to find out, I always tell my colleagues don't worry if they are so bad that they go out of business you still have to pay the loan. Someone will help you with that.

good luck,

Luis M

Looking for a good working ethic Orlando Realtor. 

We have leads relocation & Rents

Please contact me  message me lets work together for more. 

Luis M

need all the expenses - no way to analyze without them and you haven't provided them.

capex? repairs? shared utilities? vacancy? landscaping? miami business license fee(s)? (not sure if that's a thing but you have to count everything...)

my guess is you will be negative cash flowing for several years

doesn't sink it necessarily but i don't see it being cash flow positive at a long time with an interest rate of 8+%

just the way the market is right now. probably would have been fantastic with a rate in the 4s

Hi Jose if you don't have experience with this numbers  please please review them. 

we bought 8 multifamily the last year Hollywood and most Miami Dade and cash flow ...

yes with 8%,  Insurance 9000 (4000$ fourplex ask around no way)  taxes expect them to go up you are purchasing, expenses (yes you need to add them) and Management. 

You can't cashflow do the numbers backward and to make enough to do a DSCR loan... No owner can sell at that price ... and give you the property...

The game today is owner finance, Value ADD so you buy equity to be built, and buy and hold. 

Luis M  MMP

Amazing post, 

But to all new people this is the point you neet to get. We have and Multifamily mastermind group very easy, is to chat learn and share. We get all this new investors(like we were at one point) and if they read this, my opinion they will not get it. They will understand the concept but you need to be investing, buying selling deals, go through them and then this numbers they talk to you... 

I was one of those realtors that did a nice excel sheet and because my buyer was cash I will put CAP rate not ROI.

Today is simple Cash on Cash, CAP Rate and IRR.

Bradly Mullen@ please put a post on IRR so we get a discussion like this one.

We invest in Value add Multifamily in South East Florida  buy and hold 8 buildings  and buy and sle 6 the last 12 months. And still I get people saying there are no deals in Miami Dade or Broward. 

We are doing them with great IRR 60%-80% in 15 months. Positive COC after ARV. And redi to refi cash out and buy an other one.

Luis MFM

So I just bought a 8 unit building for 1.3 great deal 9.8 cap rate. But I owe my LOC 500k now. I'm trying to find out how much money can I pull out from the 8 unit which is now valued at 1.7 million. I want to pay back that LoC cause I'm getting smash with the interest at 8.5 percent killing 

The property also has a 3.6 percent interest i assumed for 3 more years what’s the best options for me please help.

Michael need to put the numbers together no way will make sense to refi a 3.6 interest ... you will get 7.5 to 8%  on that .... 

500K I/O loan is not bad at today's rates. Use your heloc as a bank and put all the Money in the heloc,

ask for credit card at 0% APR for 15 18 month I have list of them put all the money ont he heloc.

As friend to lend you money pay them 5 % and put the money ont heloc.

Heloc is the best bank you can have...

Luis MFM

Find local Investors clubs

network is a must,  you will find everyday deals negotiations. 

Luis MFM

Attend local investor clubs

Like-minded people always sharing knowledge and Opportunities. 

Luis MFP

join local investor group  mastermind groups

Information is to passive, slow work nothing like real experience. 

I love books but knowledge with out action .... it dilutes to fast

good luck

Luis MFP

That is great

there is Investor Multifamily Club next meeting next Tuesday 7:00 PM

Also a Master Mind group Multifamily and Creative Financing  

All this is free just put in attitude and knowledge to share.

But we meet to make Money

Message me if would like details

Miami Dade Area

Welcome to bigger pockets

Luis MFP