All Forum Posts by: William Chrisman

I'm looking for books to learn about new construction homes, and multifamily.  Any suggestions for someone with zero new construction experience?

@Eric Bilderback Thanks

what about vacancies?  What percentage do you set aside for vacancies?  I've heard about 7% but that was a single family home.

@peter t, @eric bilderback, @chase keller

I'm going to view my first multi-family, a 6 unit apartment building on Monday. I'm trying to run numbers this weekend. What things, and/percentages should I consider for cap-ex. (I only have one rental property so I'm fairly new to investing in general) The more info the better. I would rather consider too many things than not enough.

I'm going to view my first multi-family, a 6 unit apartment building on Monday.  I'm trying to run numbers this weekend.  What things, and/percentages should I consider for cap-ex.  (I only have one rental property so I'm fairly new to investing in general) The more info the better.  I would rather consider too many things than not enough.

Called a local credit union , she made the loan sound very simple as long as the cap is 1.2 x above mortgage. My concern was my DTI I know I'm pretty close on that but she said the biggest factor is the profitability of the property. She said they would finance 80% of loan, I have a HELOC on my current residence that I'm closing on Monday. So if everything goes well I can get this property using the HELOC for down payment. I guess that qualifies as no money down. I'm pretty pumped, but waiting to see leases and more numbers. I plan on running some calculations on the BP calcs this weekend.

I called the broker, trying to set up a viewing for monday! Also gathering info!

I'm in the midst of my first rehab for a rental.  Rewiring, re-plumbing and moving walls and opening up spaces.  My question is concerning the flooring.  The house has hard wood floors approximately 1400 sq/f. Should I refinish the floors or cover them with something that's more renter proof?  Any ideas or suggestions would be greatly appreciated.

Thanks for the input!

I've found a 6 unit apartment building for $210k on loop net. Besides price and the number of units I do not have any other info. This week I'm wanting to call to gather more information. I'm hoping BP can help me gather a list of questions to ask to help me sound less like the new investor that I am. I obviously need to find out the number of beds and baths , but what other info should I get to help me evaluate the deal appropriately. Thanks BP!