All Forum Posts by: Natalie Gelbke-Mattis

What lenders are doing 10% down, with a refi of 5%?

I would be interested in learning more and possibly becoming a tester.   I'll send you a direct message.

 Thank you for this!  This is exactly what I was looking for and gives me confidence that I can go after that deal.  I would love to be introduced to equity partners and lenders as I have a potential deal that I want to present an offer - but struggling with the 25% equity required by most institutional banks.

Thanks again!

Natalie

I am completing my due diligence on a possible motel purchase in the Lake George/Lake Luzerne area.  The seller does not have occupancy reports available.  Does anyone know of free online resources or price per report resources?  I used to have CoStar with my previous company, but no longer have access.  I want to try and get ADR and occupancy market data.   I use AirDNA for the cottages, but don't believe it would work for motel rooms.  Thanks!

Anyone recommend a commercial lender to provide funding for a well established ice cream store in Ohio? This would be for the business and real estate. The business has been established for over 30 years and has a NOI of over 150K annually. Purchase price is $880,000. In talking to the seller, the bank he used had him put down substantial down payment (almost 50% LTV).

Looking for feedback on an approach to help grow my hospitality portfolio. Instead of discussing the possibility of owner finance with sellers - what if I offered the opportunity to JV where they are the equity partner? In the assets I am considering - the seller is typically selling because they no longer have the time or energy. I have the credit, experience and the knowledge on how to underwrite the deal to show their ROI in this arrangement vs a traditional sale. The seller will always retain the equity and would receive annual distributions - and could structure the agreement with an exit strategy that makes them comfortable. I recently analyzed an asset of vacation cabins - where the seller would earn 23% ROI over a 5 year term. Is my out of box thinking not make sense and be a waste of everyone's time?

Hello - My husband and I are experience real estate investors, with several LTR/MTR/STR located in Ohio and Geogial, in 2022, we purchased a seasonal boutique motel in Western New York. We complete renovated and turned into a successful operation with a current 11% rate cap. We are on the lookout for our next hospitality asset. Our buy box specifically focuses on vacation destination accommodations - including boutique motel/hotel, campgrounds, treehouses, cabins, etc.

As with most people starting out - having the 20%-30% equity to put in the deal is the challenge.  I have cash, but not enough for the purchase price i am targeting (500k-$1MM).   I want to approach sellers with either a seller carry arrangement - or become the equity partner in a Joint Venture.    I also would like to find equity partners.    Any advice that can be shared to try and get over this hurdle to be able to expand our portfolio?  I feel like i am in this awkward in the middle stage where I still need to work my corporate job, but right on the cusp to make real estate my fulltime job.   My husband and I are not afraid to work - just cannot find where to start.

Is there a loan product out there that would lend based on a borrower's entire rental portfolio? I have 3 rentals (2 SFR and one condo) with a lot of combined equity. Looking for one loan to tap in all equity. Is this a pipe dream?

It does not show very well online.  I would invest in some cosmetic improvements.  For the price you are charging, and the area, the rent is too high.  

 I am in the process of purchasing a Motel, and am interested in what funding options may be available.