All Forum Posts by: Nitin Dhiman

Hello experts,

I'm looking a package deal for 8 units made of 4 duplexes for under $700K in Texas. These are on 4 lots right next to each other. Because each of the 4 structures is on its own lot, it's not considered a commercial investment, so I can't finance it with a commercial loan.

I'm not interested in taking out 4 separate conventional loans. No point paying all those closing costs and fees.

What tips do you have on financing something like this? I can partner with someone to put 20-25% down if needed.

Thanks!

Nitin

@Jo-Ann Lapin, @Chris Mason, @Bruce May , thanks for your quick input and responses. Shame on me for not responding to your messages earlier. Bruce I wish we'd connected on the day I was looking at the deal. I had less than 24 hours to go under contract. At 20% I had a good shot at it. Well, no big deal. More will come.

I'll keep you guys in mind for the next time around. Thanks!

Nitin

Hello experts,

I've come across a 4-unit (3/2, 2/1, Studio, and converted garage) property in San Diego that cash flows extremely well. Unfortunately, in California a 4-unit purchase needs 25% down.

- Any lenders out there who finance a 4-unit investment property for 15-20% down?

- Another question I have is - how do lenders determine the number of units? This property is a 3/2, 2/1, Studio, and converted garage. I don't think all the units are permitted. If it gets treated as a 2-unit I could finance it for 20% down.

Thanks!

Nitin

Congrats! I plan on doing the same in 2017 :)

Dear Austinites, if you have worked with a property manager that covers the Georgetown area, particularly around the Southwestern University, I'd appreciate an introduction or referral. Thanks!

Nitin

@Dave Foster , @Karen Schimpf your responses have been really insightful and helpful. Thank you!!

@Dave Foster, @Karen Schimpf, @Helena Kwee .... thanks so much for your suggestions. Any tips on addressing the 45-day clock that starts ticking after the sale completes? That may not be a lot of time to find properties that are the right fit for a set of investment goals.

Hi there,

I'm looking for recommendations for a 1031 exchangor you've worked with. I'd like to talk to him/her about going from a SFR in Round Rock to a multi-unit in Austin.

Thanks!

Nitin

Thanks for your responses @Alex G., @Rod Hanks, @Kristopher Hanks . That's super helpful !

Hi there,

I'm doing a cash-out refi of a single-family rental in Round Rock. If you're familiar with Title fees in Texas, could you comment on whether these seem reasonable? Sounds too high to me for $165K loan amount ...

• $1235 Lender's title insurance
• $550 Settlement or closing fee
• $421 Title endorsement
• $50 Tax certificate
• That totals to $2256 in title costs

Which of these fees could/should I reduce or eliminate through negotiating or shopping around?

Thanks!