All Forum Posts by: Melissa Harris

Hi Angie!

I am not sure if I missed an email from you but just wanted to follow up with you about you possibly helping us find some deals. Do you have any off market multi-family deals right now?

Hi Angie!

My business partner and I are looking for small to medium size multifamily complexes. Anywhere from 20-200 units, that are "mom & pop" owned and can use some value adds to the properties. Can you send us an email to [email protected] and I can send you our criteria/financial booklet? 

@Seth Wilcox that is really good to know! I haven't heard of that program before and definitely seems like a better option. Right now I have a 720 credit score, so I'm sure once I'm able to pay off my debt and have my mortgage removed from my credit it will certainly be alot higher. I will certainly connect with you once my house sells after the first of July :) Thanks for the advice! 

@Steve Shafer thank you so much! I have seen the loan limits chart and look at it all the time lol. Thank you for your feedback, it's nice to hear that you were still able to find a property within the loan limits in this crazy market! I will just have to be patience and wait for the right one :) I will definitely reached back out to you if I have other questions. I appreciate it. 

@James Orr I would love to chat with you more on Wednesday, I'll be coming to the meet up tomorrow night about the deal analysis 301: Multi-family :) 

@Brian Armstrong Yeah I would love the recommendation if you can provide it :) Would love to learn more about that "short" loan. 

@Ed Burk thank you for your information, how does a FHA 203k loan work? Would that be a good option for what I want to do and if I find a complex that does require some upgrades?

Has anyone heard of doing the FHA 203k loan? What are the pro's and con's on doing such a thing if the units needed work?

@Ian I Leinwand Wow hard money sounds expensive! Not sure if I want to go that route, I am looking into buying new build 3-4 unit complexes, I am not sure if using hard money on those kind of deals would work since none on them will need work. Thoughts? 

@Ian I Leinwand what was the cost of getting hard money loan? For example if I am looking to buy a 3 unit for $1,000,000 what would it cost me a month to pay on the hard money? Does that make sense?