All Forum Posts by: Pat McCandless

@Ty Goulding what do you mean by twin south? It wasn't in a college town?

@Jonah Hillman let me know if something falls through, I am interested.

From your example, the mortgage wouldn't be on 100k, it would be on 75k.  So based on that, are you cashflowing with a 75k mortgage?

it's a 75% cash out refi on the ARV. So if your ARV is 100k, then the refinanced mortgage would be a 75k mortgage. If you were "all in" at 50k then you would actually be making a profit of 25k but I'm assuming you are putting money into a rehab. So if you put 25k into rehab, your all in would be 75k and your refi would be 75k so you would essentially be getting your investment paid for and now you own a cash flowing property.

Looking to hear success stories and horror stories (if they're out there) regarding purchasing multi families in need of repair near colleges. My biggest fear is that you know you'll need to find tenants every year and will your property get trashed to the point where it's just too much to deal with.

Thanks everyone! @Ann Bellamy request sent

@Mark Beckwith just sent you a PM

Looking for hard money lenders for Worcester County, MA but everyone I've contacted so far doesn't lend in that area.  Looking for some referrals please!

also zillow and realtor show it as a 2/1.  Do you have photos? [email protected]

you mention perfect deal for owner finance.  Is the current owner willing to finance?

Me too please!