All Forum Posts by: Vasundhara Ranjani

Thanks for all the answers guys.

To break it down a bit further:

1.) I have ~ $1m to invest

2.) Looking at multi-family property (not STR) with professional management (i.e. I will be mostly hands off)

3.) Will be using leverage so that would mean $1m down would enable me to get a ~ $4m property(?).

4.) What areas of Texas and Wisconsin would this most likely work?

As the title says, I would like to purchase a few (or a couple of larger) multifamily properties to cash-flow at least $10K per month (ideally $12K/mo.).

The criteria are mainly:

-B-class properties/locations (i.e. no "ghetto" properties)

-Professionally managed by a reputable/trustworthy company (not fly-by-night operations)

-Looking mainly in Texas DFW, San Antonio, Austin, Houston) & Wisconsin (Milwaukee and surrounding areas)

What kind of investment would this require? I know it varies by location etc. but ballpark? What $ amount do I need to invest to be able to generate at least $10k per month in cash-flow?

 I can vouch that VP Investors are absolute trash. They ruined our properties through complete negligence and we too are still trying to recover from it.

Finding a good property management company in Milwaukee seems to be a crapshoot tbh. Some of the high reputable ones won't manage inner city properties so there's that.

I am looking for recommendations for good insurance companies for multifamily buildings in Milwaukee, WI. We are looking at several buildings to purchase (in addition to ones we already own) and would like to shop around for insurance.

Can you guys provide some recommendations?

Thanks in advance.

We have several multi-family buildings in Wisconsin where our notes are coming due (I know, rates are terrible now). We have the option to renew with our current bank (at a much higher rate) or find another bank for these buildings.

Can you please suggest GREAT lenders for multi-family buildings in Wisconsin?

Are there lenders that will do refinancing (no cash out) without an appraisal? We want to do these ASAP and not drag it out for > 30 days etc.

Appreciate any help with this.

Thanks in advance.

I'm currently doing some due diligence on a large(r) apartment building that I'm seriously considering buying. The main stumbling block is that my lender for all my other multifamily (most of my buildings are 8 - 22 units) requires 20%+ down payment which has not been a problem thus far but for this deal (~ $4m range), it's a bit steep.

I'm an individual investor and don't have 'partners' to share the risk with.

What are some options out there for financing such a deal with say 10% down?

Thanks in advance.

Which lender(s) do you use to get the HUD 223(f) loans? I'm looking at a couple of opportunities that are > $3m each and so the 20% down payment is a bit steep - these are in low-income neighborhoods so investing with maximum leverage (i.e. 10% down) would be best. Are there loan products out there that will allow 10% down? If so, what are they and how can we go about getting those? So far all our deals have been through big banks (WF, USB etc.).

So I listed one of my multifamily properties for sale and got a couple of offers. Over the past week, circumstances have changed and I want to keep the property and not sell. 

RE agent is now saying I still owe commission even though no sale was made since they brought a 'buyer to the table.' This sounds like BS to me but the listing contract has a specific clause that has me concerned:

I did not change my mind on a whim - some circumstances came up where it makes sense for me to keep the property. Agent keeps saying they spent a ton of time showing, marketing etc. on the property and so they want to get paid for it.

What is the best solution for me at this point?

Really need your help. Please advise.

Thanks in advance.

I am a property investor with over 100 units (8 - 22 units per building) and 2020 has been very difficult due to Covid-19 and the subsequent "rules" that only favor tenants - moratorium on evictions, lack of rents paid etc. etc.

I'm sure I'm not the only one in this situation - how are other property investors handling this? None of the property taxes, expenses, repairs have a 'moratorium' for us as landlords but we have a bunch of tenants who are squatting in our buildings without paying rent/utilities while we can't evict them due to the ridiculous rules enforced by the government.

All our properties are under LLCs and we don't have 'payroll' per se and so we couldn't make use of the PPP for this situation. 

I'm very concerned about this year since Covid19 may still take several months, if not more, to abate and for us to be able to start getting rents.

Does anyone have any solution for this?

Is there a way for property owners/investors to band together and ask for help from the government? I would be interested in spearheading any effort in this regard.

Thanks.

Vasundhara

 In one of the LLCs, we have a few buildings under it. Most of the other buildings are in their own respective LLCs.