All Forum Posts by: Pancham G.

@Marsha Rost: If you are looking to flip or BRRR'ing the properties, I would highly recommend J Scott's book: https://www.biggerpockets.com/store/flipping-digit...

@Mark Doty: As others have mentioned already, I will try to find a good insurance broker in that area and pick his brain. Insurance is a subject that many people take lightly but its very important. Your lender will have some *minimum* standard requirements that you will have to get. Some people just get the bare minimum that the lender requires and some people add on things based on their comfort level.

Insurance is also very location specific. For ex: some areas come under flood zone will require flood insurance etc.

@Sanjoy V. : It really depends on the loan terms. Most of the big multifamily loans do have pre-payment penalty. Some are step-down prepayment or some are yield maintenance. Step-down goes down as the time elapses. And you can read more about Yield Maintenance here: https://www.investopedia.com/terms/y/yieldmaintena...

Yes, you do have to take that into account when you are underwriting your deal. You need to have an idea of what kind of loan you can get for the property that you are looking at. Based on that knowledge, you need to do the underwriting. If you are investing locally and if the loan amount is not many millions, then you can usually get the better terms (aka no or very low pre-payment) by using your local community banks. I hope this answers your question. 

@Eric Healy: Its a very specific question related to that location. One suggestion that I have is that search for members from that area in the members section and see who is active there. Try to connect with them and ask them questions. You can do the same thing by contacting the local agents who are active. 

As far as the market growth is concerned, you will have to look at the overall statistics and see if the data for that MSA is pointing towards the growth. You can check:
- population growth
- job growth
- job diversity
- demographics
- etc.

Hope this helps.

Thanks @Michael Anspach

Thanks @Steve Ray and @Matthew Tringali

@Stephen Franco can u put more details or PM me?

@Matthew Tringali: to close a transaction. Basically to draft a Purchase & Sale agreement, title, closing etc. Do you have any recommendations?

Hi,

We are looking for an attorney in NC with apartment buildings experience. Does anyone have any recommendations? Any leads would be appreciated.

Thanks,
Pancham

@Dan Beaulieu: Congrats... its just the beginning!!