All Forum Posts by: Robert Nason

One big red flag is trailers depreciate in value, not appreciate in value. Also being a rural area you may have a hard time finding tenants. I would also worry about the quality and credit level of the tenants you would at that rental rate.

For larger properties try loopnet.com

I would be forthright and upfront with your bank about what your intentions are, if they feel they can make money they may go along with it there's nothing unusual about what you doing it's just you have to be someone of a mercenary with banks and be willing to go with I was going to give you the best deal. Six months is not a very long time in the real estate world, you may want to approach you bank with something closer to 12 to 18 months.

The best advice I can offer is never mind what other people are offering, but focus on what you feel the value is to you and whether you can make a profit on the investment.

The answer to your question, is yes and yes they will frown upon it as it is an investment for the bank as well, and after only six months have not had an opportunity to recoup their investment. In fact many banks will make provision within the contract that you not allowed to refinance for a period of a couple years. Banks are in business to make money, they will not look at you the same if they know that you're planning on refinancing the note after only six months. Having a consistent banking partner I believe it's crucial to any successful real estate investors that you have excellent partners, that includes banks,architects, attorneys, mortgage brokers and contractors etc.

Ugly HOA fees, competition from other investors within the same building limits your ability to control your rent rate. Your money can go a lot farther with multi family properties of three or more units.

I'm in an unusual situation, I recently sold a 4 unit commercial investment property. I attempted to do a 1031 exchange and the properties fell through. I am now looking to purchase 10 to 20 unit apartment building in the $2 million range and there's nothing in my area. I own a totally renovated eight unit building and I'm considering building a 20 unit in a vacant lot that I own right next-door. The problems are that while the neighborhood is rapidly up and coming with a brand-new courthouse, brand-new health center, brand-new art center, huge university presence there is still a level of transients in the area that make me Worried about a building there. But I figure I already own the property so I might as will capitalize on it and I can't find anything to purchase, so is it smart to build? My 8 unit loft building I've been at 100% occupancy since purchasing it only two years ago, I've increased rents from 7K a month to 12K per month.

I would sweetly thank your tenant and tell them that while you appreciate the gesture it was not expected and not necessary in the future. Its a great problems to have tenants! Happy holidays