All Forum Posts by: Maurice Smith

 How is your rental by lake conroe doing ?

 at least 8 - 10 doors , would like to keep it under 1 million, sellers still dont want to accept the fact that were not living in 2020-2022 any more. Hopefully  2024 will be a good time for some deals from some of these motivated sellers with variable rates.Definentely not in a rush to over pay for anything.  I have a few hundred thousand that im going to park into a 5.5 % cd and will be on the side line ready to make a move when the opportunity presents itself. 

How is this property preforming in todays market? That 3 year io @ 4.65 compared to todays rates of nearly 9% is a big difference.  Hopefully the interest rate cap helped you mitigate such drastic rate increases. 

 Yes I was wondering exactly this. columbus seems high compared to the other metros in ohio. Cant find any 8+ units for under 700k. 

 is there a reason why columbus is priced much higher then other cities in ohio? It almost a night a day difference compared to cleveland area 

OPM Baby! I guess it depends on how bad i need it , or how good of a deal i have on the table. if its a quick in and out type of situation, and my advisor or lawyer gave me the green light, then yea I would probally consider it. Have to take a little bit of calculated risk sometimes to reap the rewards. 

Thats how i feel about it. 

 Yea rates are horriable right now. Just did a cash out refi, was able to take out a little over 200k. But my rate went from 3.625 up to 8.75, Thankfully still cashflowing close to $1000/ month.  However, it dose seem like were slowly going into a buyers market ( based on the days on market and sales invetory rising around the country) which means more bargaining power for us buyers. If you dont find any luck with the seller financing, You can always request the seller to buy your rate down especially if they are motivated to sale. 

Good luck 

Is there such thing as 100% financing using hard money? i dont think thatwould be the wise option , but im still courious. I remember reading someone used hard money for their down payment and rehab? 

looking to invest into my next multi family deal. Majority of my portfolio is in the west coast. I have been doing some research on both texas (parts of west texas like  lubbock area / sub markets around dfw area ) and north carolina ( Charlotte/ raleigh) , and a few other markets like ohio area

( coloumbus/ clevland / dayton). 

Which market do you think has the most potential/ upside ? 

If you invest in any of these markets i would like to hear your thoughts. 

whats your reason for wanting specifically " creative financing" deals. Is it the cash your lacking, credit, or just trying to lock in a better rate with the seller?  keep in mind, seller financing only really works if the property is free and clear, other wise you would just be doing a note carry ( were terms are usually more favoriable for the seller than the yare for the buyer. or you will be doing an assumble loan ( which requires you to bring more money into the deal).

9 k for some stuff you can learn on youtube, or better yet pay me half and i will teach you all you need to know lol. But all jokes aside, BP and youtube are a wealth of knowledge you can learn alot. But nothing comes close to actually getting out there and doing it and learning from trial and error