All Forum Posts by: Ron B.

I'm looking into buying an apartment building. I'm trying to come up with a good way to present a solid offer to the seller for seller financing that would would be favorable so it would be a very sweet deal for him that he couldn't pass on. 

The property is selling for $3.2m 7% CAP. It's annual Net Revenue is $216k

What's the best way to present 100% seller financing ? I could put down $35k Plus he has security deposits that have a total value of $18k, so not sure if those could be used for the down payment also?

and that's why I'm asking now. No need give rude to me. How many 50+ Unit  buildings do you own?

I'm in the process of buying a 50 unit apartment building. My question is in regard to the current leases. How does that work when I become owner? Do I write up all new leases immediately under my new company name or do I wait until each lease expires one by one and do it over time? I also want to increase the rent on everyone, do I have to wait until their current lease is up? 

There is no clause in their current leases stating anything about what if the building is sold to a new owner.

Thanks everyone! Sorry again for my dumbness in math lol 

Sorry in advance, I'm not an accountant and I'm trying to figure out if a property is worth buying by doing my own rough math before paying my accountant to do it for me. 

So I have a $3.5m purchase and have a 100% loan at 7% interest for 30 years.... My question is, do I take the entire 3.5m and add 7% on it every year making the monthly payments $30,138? Or is the 7% over the life of the loan (30 yrs) making the monthly payments $10,402?

Also how does a balloon payment work, say I do 100% 30 year loan at 7% and have a balloon payment in the 5th year of owning it?

Thanks in advance!

I have a private lender willing to do 100% financing and also one of the properties the owner is willing to do owner financing. But I don't know the terms yet. I'm looking to see if even with a low interest rate any of these are possible to make $75k+ a year. 

I have extensive background in owning and managing multi family properties. But lost everything in a nasty divorce so I'm starting over from scratch. But I was able to get approved for no money from a private lender and/ or the seller of one of these properties. 

I'm looking into buying a multi unit building. I have a couple lined up and wanted to know with zero down and a 30 year loan or any other ways to finance it with zero down are possible and still have a $75+ income each year????

I've found a place that will do a loan with zero down, but they want 7-20% interest. I also have seller financing available but he hasn't given me what interest rate he wants yet, I can still negotiate with him on the terms.

Any suggestions at all on how to buy one of these with Zero down would be great. Thank you in advance!!!

Here's the 3 properties and the numbers....

1. Asking price $24m, Gross income $2,087,298, expenses $977,221

2. Asking price $12m, Gross income $1,127,766, expenses $535,838

3. Asking price $3.5m, Gross income $336k, expenses $171,199

the owner will do the financing with zero down from me. Also I was thinking of doing a balloon in 5yrs on it. 

I've found a multi unit apartment building with 100% owner financing. It's $3.5m the current gross income is $389k with net profit of $189k. The broker said the owner wants at least 5% interest. 

How could I do a deal and still have an annual income of at least $100k?