All Forum Posts by: William Coet

Hello,

Seeking recommendations for a digital program to get multiple signatures on a lease. It should be secure.  I contacted docusign and they are $300/yr. Wondering if there's something cheaper but good!

Thanks in advance!

Hello,

Seeking recommendations for a digital program to get multiple signatures on a lease.  It must be secure for privacy reasons. I contacted docusign and they are $300/yr.  wondering if there's something cheaper but good!

Thanks in advance!

Hello,

When investing with an experienced multifamily sydicator, what are the realistic returns for a 5 year investment of 100k? One operation I contacted is projecting a return of 200k (100% return in 5 years) which seems surprisingly good. I do not know if this is realistic or farfetched.

Thank you

Hello,

When investing with an experienced multifamily sydicator, what are the realistic returns for a 5 year investment of 100k?  One operation I contacted is projecting a return of 200k (100% return in 5 years) which seems surprisingly good. I do not know if this is realistic or farfetched.

Thank you

Quote from @Jamie Jones:

Quote from @William Coet:

Quote from @Jamie Jones:

Like others have stated, it really comes to what kind of financing you are looking for. In many cases, it may actually be a more streamlined process when obtaining financing if you are getting a conventional mortgage. If you are getting some form of commercial or portfolio loan, then it will really be lender specific. Most depository banks would rather have their clients have liquid assets compared to real estate, which they deem as illiquid, with the hopes that they can eventually get those deposits/investments under their own management. I work for a bank and we would be way more likely to make an exception to a borrower who has $1m+ in liquid assets compared to someone with $5m+ in RE holdings. Hope that helps! 

What if the sale means there will be no income (because all income was from the multifamily that is part of the sale)? The goal is to buy more multifamily.

 What kind of property/loan are you looking to obtain?

Multifamily

Quote from @Jamie Jones:

Like others have stated, it really comes to what kind of financing you are looking for. In many cases, it may actually be a more streamlined process when obtaining financing if you are getting a conventional mortgage. If you are getting some form of commercial or portfolio loan, then it will really be lender specific. Most depository banks would rather have their clients have liquid assets compared to real estate, which they deem as illiquid, with the hopes that they can eventually get those deposits/investments under their own management. I work for a bank and we would be way more likely to make an exception to a borrower who has $1m+ in liquid assets compared to someone with $5m+ in RE holdings. Hope that helps! 

What if the sale means there will be no income (because all income was from the multifamily that is part of the sale)? The goal is to buy more multifamily.

If a multifamily owner sells a portfolio and then owns only a personal residence, but has cash from sale, will they be a less desirable borrower to lenders?  In other words, does owning an unencumbered cash-flowing RE portfolio make the borrower more desirable to lenders, or is cash on hand all that matters?

Owner doesn't want to put themselves into a less desirable borrower position for future acquisitions...

Thanks!

Quote from @Chris Seveney:

Quote from @William Coet:

Quote from @Chris Seveney:

Quote from @William Coet:

Quote from @Chris Seveney:

@William Coet

Moment you purchase if you leave them in there you are liable for everything that does not work

Only way to see if she will sell is to ask her

Thanks Chris,
Asking is the delicate issue.  She is very frequently irritable.  Quite literally a cat lady and hoarder.

 Well the only way to find out is to ask.

Yes, but it has to be tactful because it could upset her and ruin future chances.

 To me its like asking someone on a date, either pull the trigger or move on and stop thinking about it. You are playing whatifs in your head and finding ways to avoid the situation. 

Thanks Chris.  If she isn't interested in selling, I may offer her a payment for a First Right Of Refusal.  I will have to learn about how these work in this situation.

Quote from @Chris Seveney:

Quote from @William Coet:

Quote from @Chris Seveney:

@William Coet

Moment you purchase if you leave them in there you are liable for everything that does not work

Only way to see if she will sell is to ask her

Thanks Chris,
Asking is the delicate issue.  She is very frequently irritable.  Quite literally a cat lady and hoarder.

 Well the only way to find out is to ask.

Yes, but it has to be tactful because it could upset her and ruin future chances.

Quote from @Chris Seveney:

@William Coet

Moment you purchase if you leave them in there you are liable for everything that does not work

Only way to see if she will sell is to ask her

Thanks Chris,
Asking is the delicate issue.  She is very frequently irritable.  Quite literally a cat lady and hoarder.