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All Forum Posts by: Nicholas Liman

Nicholas Liman has started 2 posts and replied 8 times.

Post: 6 Unit Seller Financed Deal

Nicholas LimanPosted
  • Investor
  • Lubbock, TX
  • Posts 8
  • Votes 5

I definitely feel like you're a little overleveraged if you're taking more notes out and are only cashflowing a couple hundred a month. A simple maintenance fix (and it's an older property, so you can expect something in the first year) can wipe out any cash flow in the beginning. You'll need to have a relatively solid capital balance just in case something happens - like the roof giving out or something. I'd personally try capital raising for a bit first. 

You can always do your own underwriting based on more conservative forecasts and see if it makes sense (i.e. adjusting for what you think is a realistic occupancy rate, rental increases, etc.). Understanding the financing is important too. Most of these MF loans are done on bridge loans recently which will need to be refinanced in the next few years. Do you personally believe interest rates will be consistent or rise/fall in that time period and does the asset still have a good DSCR? Is their capital balance enough to actually withstand a bad year or two?

I personally do this on all the deals I'm working on or being asked to be a GP on. I also have my attorney review all KP/GPs that I work with even if I've done business with them before. You never know what could be outstanding against them, so it's worth it to CYA.

Post: Multimillion multi family costs

Nicholas LimanPosted
  • Investor
  • Lubbock, TX
  • Posts 8
  • Votes 5

As a general rule of thumb, you need 75% LTV for a commercial loan.

Post: DFW Network: Lets connect!

Nicholas LimanPosted
  • Investor
  • Lubbock, TX
  • Posts 8
  • Votes 5

Hey Jeremy, let's connect! I just shot you a DM.

Post: DFW first investment purchase.

Nicholas LimanPosted
  • Investor
  • Lubbock, TX
  • Posts 8
  • Votes 5

Hey James, 

Would be great to connect with you in the DFW area. I'm actually working on a multifamily deal right now. Will shoot you a PM.

Thanks,


Nick

Post: Is self storage investments are still good?

Nicholas LimanPosted
  • Investor
  • Lubbock, TX
  • Posts 8
  • Votes 5

I definitely think you need to have a good DD period on any purchase. I've been trying to work some self storage deals myself across Texas and most of the time I'm seeing sellers advertise their cap rate as 5-6% after you've already gone through and raised rents/increased occupancy. It kind of blow my mind, but there's usually a correlation between rising interest rates and cap rates. So hopefully we see more value potential in the next year.

Post: Looking to expand network and collaborators

Nicholas LimanPosted
  • Investor
  • Lubbock, TX
  • Posts 8
  • Votes 5

Hey everyone,

I'm relatively new to the investment scene in DFW but have been doing single family and multifamily investments for 8 years. Looking to build out network of agents, investors, and contractors.

I have 1 200+ unit deal I'm working on right now (loan secured, under contract). We have some GCs that have given a rehab budget but looking for other referrals if you have any. If you're also interested in participating in this deal let me know (8% pref, 75/25 split, 133K per door, 7k rehab, 200k per door target, Class C to B rehab) please let me know.

Also working on a 100+ unit deal in downtown Dallas, but this is still way early in discussions. 

Looking forward to connecting with everyone. 


Thanks,

Nick

Post: New to area, looking for advice

Nicholas LimanPosted
  • Investor
  • Lubbock, TX
  • Posts 8
  • Votes 5

Hi all,

I'm a real estate investor moving from the panhandle and I was hoping to get some thoughts on the DFW market. I've got an MLS portal set up for me that helps search the entire DFW metroplex area and it seems like Fort Worth and Arlington will give you the best cash flow. What are everyone's thoughts? What areas have you found good success in, within the past couple of year?

Thanks for the help everyone!