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All Forum Posts by: Max Edward Connelly

Max Edward Connelly has started 1 posts and replied 4 times.

Quote from @Jaycee Greene:
Quote from @Max Edward Connelly:

Hey Jaycee. Thanks for the welcome! I would like to acquire a 15 unit or so apartment. I am looking for something in the Topeka area. I am kind of flexible on price point, something under a million for sure. The lower the price the more I would be willing to do some fixing up. I found a really nice brick building with 12 apartments, 3 commercial business units and some garages. I like the location and the price is 650k

For mixed use properties as you describe (and I'd assume is located on SW 10th St.), I'd recommend that the residential units fully cash flow the loan as my experience is that mixed use properties are tougher to finance as most lenders tend to prefer one or the other and something in the middle gets more difficult.

For example, and granted I don't know anything about the area/neighborhood, I would expect this property (https://www.realtor.com/realestateandhomes-detail/111-NW-Har...) to be easier to finance than the mixed-use property you mentioned.


 That is the property I was looking at. The initial numbers seem good to me. Thanks for the heads up on financing a mixed-use property. That is something I did not think about. Do you have any recommendations on a lending source for a property such as this?

Thanks Jonathon Greene. I will look into that.

Hey Jaycee. Thanks for the welcome! I would like to acquire a 15 unit or so apartment. I am looking for something in the Topeka area. I am kind of flexible on price point, something under a million for sure. The lower the price the more I would be willing to do some fixing up. I found a really nice brick building with 12 apartments, 3 commercial business units and some garages. I like the location and the price is 650k

Hello Everyone.

I am looking to start my real estate portfolio. I am interested in buying a multi-family apartment complex. I am looking for any and all advice and some coaching. I would really like to find someone interested in doing some mentorship. I am new to the real estate world, but I am not new to hard work and making things happen. I have been doing a lot of research but still have a lot of questions I would like to run by someone that has some knowledge about commercial/multi-family real estate. 

Thanks! looking forward to being part of this community.

Max Connelly