All Forum Posts by: Obed Calixte

It's always great to hear and see people finding walk out the park deals, especially when it results in no cash of pocket when it's all said and done. Managing multiple contractors has to be the same as herding cats :) 

What % LTV did you ultimately get to refi at?

Also that is a nice green. Do you happen to have the color code or brand and color name?

Glad you created this thread Sam!

Beyond the investor reporting and finding deals, what are the other challenges that you face on a regular basis with syndication/ fund management?

That shows the power of persistence, consistency, value add and ability to execute! That's an amazing deal.

What are your future plans for those properties? It sounds like you still have room to increase your cash flow readily if you so decided.

Congrats on the find and purchase! Even better that after going 10% above ask you still have equity that can surely be used in the future. Goes to show there are still deals out there to be had.

That was definitely a great deal! Those are some solid numbers. 

How did you come across this property?

@Alexander Kim

Take a look at this link about VA loans on the VA website.

https://www.va.gov/housing-***...

If you are looking to get a 5 plex on your own, you would not be able to use your VA benefits as the loan limits purchases up to 4 units.

A joint loan however with another veteran may possibly allow you to achieve 5 units; a lender would be able to qualify that further for you. 

Just a note to remember as you do your search.

Have you checked out any non-QM lenders to see if your situation could qualify for a DSCR loan or similar product?

Hello there Andre - hope the previous neighborhood info was helpful.

In regards to this post I will caveat that I have not closed a lease/option deal aka "Rent-to-Own" however I will share what I do know to give you initial guidance until others chime in.

There are ways to find lease options - including but not limited to dedicated sites such as homepartners.com, some new construction homebuilders to on/off market properties that can be seller financed. 

Now there are some things to consider with a lease option:

1- generally will require an initial 1 year lease

2-generally requires a non-refundable fee for the "option agreement". The option agreement is what gives one the option to buy the home without being obligated to purchasing it

3- more involved process than simply signing a lease or a purchase agreement

If your main objective is to prevent breaking a lease, finding a property with "month to month" leasing may be your best bet. 

Hope that helps in the interim!

Hello all,

I just came across this Tampa meetup scheduled for tomorrow (July 1st 2021 6p). Topic is "deal analysis".

This is my first time hearing about it so what's in the link is all I know but very interesting topic nonetheless!

https://www.biggerpockets.com/...