All Forum Posts by: Mario J Perez

Thanks @Matt Ward

Hello @Account Closed,

It looks like you're going to need an equity partner. If I were in your shoes, I would underwrite the property in order to show investors what the upside would be. Maybe look for a hard money or private lender and BRRRR it, or maybe even house-hack it. You can get better financing with the house-hacking option. Look into a 203K loan, where you can bundle the purchase and repairs into 1 loan. Hope this helps,

MJP

Thanks @Alina Trigub

Thanks @Spencer Gray

Hello,

I would like to get an idea of what percentage of the gross income expenses are in a large multi-family property?

I realize this is going to vary, but I would just like to get a ballpark figure.

Thing is, when I'm analyzing a property, the expenses I get from the broker seem low, thus a low cap rate.

Thanks,

MJP

@Steve Vawter

Why does he HAVE to use Banco Popular? There are others. Maybe he can use the 200k in his retirement account to buy it, then refi. With all his good numbers (credit score, income) I would just somewhere that wants my business.

@Brandon Ribeiro

Look into 203k loans as well. They bundle purchase and rehab all into one loan.

Adding to what @Paul Sandhusaid, make sure to include a security deposit. Also, male sure to check the prospective tenant's employment history, ask tenant for previous landlord (if available) and talk to him/her. You always want to make sure that your tenant is able to pay and not going to skip out on you. Hope this helps,

Hi @John Cassel,

From what I understand, syndication laws are federal laws governed by the Securities and Exchange Commission (SEC),

but must also comply with state laws.  So it shouldn't matter that your attorney is not in your state. Here are two lawyers 

that I know that work with syndication:

@Kim Lisa Taylor she's in St. Augustine, FL or

Gene Trowbridge in CA (groupsponsor.com)

I'm reading and learning all I can about syndication. Hope to do some myself.

Hope this helps

@Keleisha Carter Check out Long Distance Real Estate Investing by David Greene