All Forum Posts by: Michael Van Brunt

Good for you Juan. Like Patricia said a title company should do most of what you asked about. 

Hopefully you have done your due diligence in regards to property inspections, rent roll, etc... I would still hire an attorney to look over the contract you will draw up. If you have, and it all looks good then best of luck!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $300,000
Cash invested: $75,000

4 plex with 3 LTR units and 1 STR unit

What made you interested in investing in this type of deal?

Good cash flow

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

Conventional with 25% down on 20 yr note

How did you add value to the deal?

Everything is new and we pay for internet

What was the outcome?

3 LTR's rented cash flowing $300/mo. STR projections to net $1100/mo.

Thank you. We have spoken to the tenant and he said the dog is just acting up due to a new environment. The tenant does have documentation so this could become a challenge. Thanks again for the input. 

Good advice. Thank you Karl.

Thanks in advance to anyone who can help with this question. We have a tenant that has a comfort animal in a 4 plex. We just received a complaint from the tenant down the hall that the dog is howling, scratching on the door, and otherwise making too much noise for their baby to sleep. What recourse do we have in regards to a loud, disruptive comfort animal?

I am not sure what sba 7a is, but I am in the process of purchasing a company for just over a million. The requirement for me was 10% down and only 50% of the down pmt could be carried back by the seller. Can’t pay seller back though until sba loan is paid off. There are creative ways to get by that though. Hope this helps. 

Thank you for responding Charles. Sorry, I wasn't clear earlier. I only have 35% of the amount that would be required for the down payment. So I only have $70,000 of the $200,000 that would be required.

I am considering purchasing a package of town homes. The numbers show 15% CoCROI using the rental tool on BP and I think it is in an area that has potential to grow in years to come.

1-What are your thoughts on town homes?

2-Any advice on creative financing? I only have 35% down and I don't know if there is enough cash flow to entice a partner.  I have never used a hard money lender so if you have a recommendation that would be great. If I asked for owner financing what terms would be appropriate? 

Any advice would be appreciated. Thanks

Investment Info:

Single-family residence buy & hold investment in Hamilton.

Purchase price: $75,000
Cash invested: $25,000

2bd 1 ba rents for $550

Sorry I have to amend that. It is actually two properties together. I only put the cost of the first. Thanks for catching that.