All Forum Posts by: Marta Frey

Juan, my real estate agent advised me compare the price per square foot of my quadruplex with the price per square foot of other small, multifamily homes in the area. There weren't other quadruplexes that could serve as a reference point, but we were able to use other duplexes and triplexes as a point of comparison. I'm under contract now, and am about to have the place appraised, so I'll find out soon whether this was the right idea. Best of luck to you!

Thank you!

Tracy, I realize this is a long shot since it's been 8 months, but is this place still for sale?

Thanks, Will. The quadruplex I'm looking at is in a town that doesn't have any other quadruplexes for sale, or any recently-sold quadruplexes. Would you just compare price per square foot with SFHs in the area? Or is there some other metric that's more reliable? Thanks again for your help.

Hi everyone,

I'm looking into house hacking my first small, multifamily property (hopefully a quadruplex), and I'm having trouble determining market value for these properties. I know the market value of a single family home is typically dictated by comps, and I have a sense that the value of larger multifamilies is dictated by ROI, but small multifamilies seem like they live somewhere in between. I'm hoping someone out there can offer advice on estimating the values of these homes. Thanks for your help,

Thanks for the advice, everyone! To clarify, I'm seeking a personal non-owner-occupied loan, not a commercial. Tom, I actually spoke to a loan officer at Texas National Tyler branch and was told a 20-year ARM is the longest they offer. I might try Jacksonville, or maybe it's just a matter of building a relationship. Regardless, I appreciate your help.

Hi BiggerPockets community,

My husband and I live in the greater Dallas area, but are eager to start investing in rental properties in Tyler (we have roots in East Texas). I've been calling regional lenders all morning to compare rates and terms, and I've been surprised to find that a 15-year fixed mortgage is the longest term we can find. 

We had some good leads, but none of the properties work without a 30-year fixed-rate mortgage. I'm hesitant to go to larger banks, because a) I know they don't tend to be as investor-friendly, and b) we're both self-employed, which has tended to scare larger banks in the past. 

Has anyone else encountered this dilemma before? Are there any East Texas investors who have obtained 30-year-fixed conventional loans? Thanks in advance!