All Forum Posts by: Matt Williams

We have decided the best course of action now would be to go to Ribbon and pay the 1% fee to get cash for a cash offer. Then, we would finance with a 3.5% down FHA loan. From there, we plan to raise rents and get an appraisal to increase value of the property to give us 80% LTV and then refinance to a conventional mortgage to qualify for a 1031 exchange into our next property (if appraisal didn't give us quite 80% LTV, we would just put more of our own cash in to get us there)

Experienced investors…. Is this a good/viable strategy? If not, what should we consider doing to start winning deals?

Thanks so much!

If you're going to have 20% in equity do yourself a favor and go conventional then you don't have to pay the mortgage insurance. Also, that strategy can work if you get something with value add, however small multi are going to go off of comps and not likely CAP rate, I ran into this issue with a refinance. It can be done, however make sure you can add value to the property not just increase rents. It would be helpful to have comps around the area so you can estimate approximately how much you can pay and get equity with some improvements.

Best Of luck.

Matt

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Hello all,

I’ve read that DM mailing is a great way to get leads for small Multi family. I was looking into buying a list from Listsource however the database is small for my area. Is their another way to capture more leads from a certain vendor or making a list yourself off of the public tax data the best bet in this situation?

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All Forum Posts by: Matt Williams

Matt Williams has started 1 posts and replied 2 times.

Post: FHA Strategy - Losing to cash offers

Post: Creating or buying a Dm mailing list from a vendor