All Forum Posts by: Mark Walker

5 sfh portfolio for sale.  4 currently rented and 1 undergoing a light cosmetic rehab.  

3 in South Eastlake

1 in North Eastlake

1 in Norwood

@Mark Walker EM is just 1 of the terms of you're LOI/PA, and thus exactly what one peg's it at all depends on a multitude of factor's.

First and foremost, EM is a "telegraph" of intent, so what is it your trying to say to the seller via you're EM? Are you trying to say your liquid, very serious to close and all but certain on the property at this PA? Than you go BIG on EM.     

Are you "telegraphing" fine, you'll give a PP but need all the contingencies, it's going to be a process of many step's? Than would go "market" with Cavet's too EM. 

The variables are many. 

My BIGGEST concern is that your here asking this question, that indicates to me that your NOT experienced in this segment and that's a dangerous thing. But also don't have an experienced agent/broker shepherding you through this either. That's coming to a gun-fight with a spork.... 

There is far more complex aspects to acquiring MFH than EM. 

@Mark Walker

I'm going to sound like an attorney. It depends. Depends on the market. When I sold my last property in NY, down payment was 10%. In Knoxville, it is 1%.

Also depends on the market cycle. Two years ago, it was higher and sellers wanted money hard day 1 in a lot of markets.

I would ask brokers and property management companies and attorneys in the market

Good Luck!

Gino