All Forum Posts by: Mike Bianchi

Not a bad idea . Thanks Theo . Now Who can help me  with the lack of deals for apartment complexes ?! Lol . Maybe I don’t have the correct venue or approach to finding them. Just can’t seem to find anything . LoopNet and catylist is what I’m looking on . I haven’t called every commercial broker  in town yet but I will if Recommended , I have called a a good majority though . 

I would love to hear it . When you say syndication ? Do you mean I allocate investors money and I run  the  deal or I just take my money and put it in a syndication ? 

Thanks Theo! I have a few multi tenant commercial properties 2-7 unit properties that range from 600k-1.7 mil . I have somewhat decent  experience on commercial but apartment I have never attacked but I’ve done lots of research . I feel like I’m able  to execute a mid size apartment complex with some more research . The fianance structure is what’s getting me . I’d prefer not to use my personal money as 20-25% down payment and find a way to use private for  purchase and rehab  and then I can refinance with conventional loan , I’m just trying to get that research down to a tee . Any recommendations ?  My strategy at the moment is wealth building and cash flow . More importantly getting multiple properties or streams of income . I’d like to purchase multiple properties a year but the market is too hot 

Much appreciated klevin . I guess I’m a little lost on the financial structure of loan . I have 7 commercial properties but with conventional loans that are 20% down and amortized over 20 year ( interest and principal ) . I see with this strategy , the hard money loan would be interest only for 1 year or something close to that  and then a ballon payment . My question is , I’ll put it in an example to make it understandable 

Example - 3250  N front st , commercial property . 

Property purchase price  $1,124,000

6884 sq ft , ( 2 ) 1800 sq ft units downstairs that could rent for 3500 NNN And identical spaces above , the problem is I would have to put maybe 35-50k into it to create a separate egress so each unit has its own entrance and exit . I would create the space upstairs into 4 apartments and create an additional $5500-6500 in income along with $7000 downstairs.

Based on the brrr strategy , the loan would be interest only for first year ? Untill I get it refinanced through regular Loan correct . So based on those payments from the loan of 1,124,000 + rehabs and Micellanous + 60,000  = 1,184,000 , they payment would be roughly $12,000 / month . In this strategy , since the money loaned has been distributed to property itself and rehab , what about the monthly payment ? Who pays that or where does it come from ? 

Thanks Derek ,I  will definitely give  them a read  

looking at buying Apartment Complexes , touch up , Rent , Refi and buy another . Any tips or pointers ? I don't mind investing 200-400k but would prefer to use as little of personal stash as possible . 

Markets ?

Strategies ?

Thanks 

I’d love to hear what you have  . Big proponent of  learning and putting in the time  . Not sure how we can connect since I’m new to this forum . 

Thanks Steve , Ill give them a call . Any particular reason ? have they showed you examples of different strategies on buying real estate , structure of business , familiar with Loopholes  ? 

Good point , Iv called the first 20 real estate agency on google in my area and informed them what I'm looking for . Trying to possibly get a friend of a friends potential listing  or pocket listings , Its been rough  the past 6 months . 

Hey Everyone , My Name is Mike and I'm a little RE Investor. 

I typically do Commercial ( multi tenant ) and currently own a few that produce a decent ROI Return ( 20-25% ) . The market I'm in is dry ( Wilmington , NC ) and I'm not a big fan of residential single family or condos . Recently Ive been looking for 20-30 apartment unit complexes but there is little to none in my city which I expected but now I'm looking in NC in general . My question(s) are

1- What are some other venues  to look for commercial property ? I currently look at Catylist 

2- Any tips on finding and researching out of the city properties ?

3- Apartment complexes , This would be my first apartment complex purchase but what would be some recommendations to locating them  , researching , property management , RE Investor Tools to research. I typically buy ( $600K-2mil) type of properties , and Lenders are in place so I'm familiar with the process of a transaction of this type . 

4- I want to purchase 1-3 properties per year , and I know its a sellers market but What strategy would you recommend using for finances to keep snowballing the ( BRRR , pulling 2nd Mortgages , using personal cash ) ?