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All Forum Posts by: Sabrina Maples

Sabrina Maples has started 6 posts and replied 24 times.

Post: Commercial Brokers in Arizona

Sabrina MaplesPosted
  • Realtor
  • Arizona
  • Posts 29
  • Votes 6
Originally posted by @Ronald Rohde:

Are you a residential agent? for multifamily, that is a very tough space. Lots of competition, not a lot of inventory

Yes I do small multi residential but I have a few clients looking into the commercial side. Yes very competitive at the moment and low inventory. A few of my clients were looking at commercial level so I wanted to started reaching out to those brokers.

Post: Commercial Brokers in Arizona

Sabrina MaplesPosted
  • Realtor
  • Arizona
  • Posts 29
  • Votes 6

Hi. My name is Sabrina and I am an agent here in the Valley.

I have a few clients that are looking for commercial sized property out here with a budget of $3 million plus and 20+ units. There are a few things on the MLS but I know there is more available I just need to talk to the right people.

Please let me know if you can help or if you know someone that I can speak to about finding these commercial deals that would be amazing!!!!

Originally posted by @Matthew Creel:

@Sabrina Maples Hey Sabrina! What part of Alabama is your current rental property in? Thanks.

Phenix city near Columbus. 

Post: SFH vs Small Mulitfamily transaction as an agent

Sabrina MaplesPosted
  • Realtor
  • Arizona
  • Posts 29
  • Votes 6
Originally posted by @Steve Morris:

Think you need to understand the lenders and what they want since it will be non-owner-occupied.

 Thanks Steve. I have to talk to my lenders and see what they say. Alex suggested the same thing.

Post: SFH vs Small Mulitfamily transaction as an agent

Sabrina MaplesPosted
  • Realtor
  • Arizona
  • Posts 29
  • Votes 6
Originally posted by @Alex Camaerei:

Hi @Sabrina Maples I'm assuming you're referring to properties with 4 units and under? That would be categorized as residential real estate and can be conveyed on the same agreement of sale that you would use for SFR (at least here in PA). That would mean same contingencies, timelines, etc. I would connect with some lenders who do a lot of investment mortgages or have helped a lot of house hackers so you can be well versed in the financing opportunities available to people thinking about purchasing multi-family properties. This would be a question for your Broker, honestly.

Thank you Alex. That's what I thought but I just wanted to verify. I have a few lenders I work with but I need to ask if any of them have done that before. 

Post: SFH vs Small Mulitfamily transaction as an agent

Sabrina MaplesPosted
  • Realtor
  • Arizona
  • Posts 29
  • Votes 6

I've done SFH transactions and land transactions but am looking to focus in on small multifamily. Is there any difference in the process as far as purchase contract or due diligence periods or inspections or is it exactly the same as SFH? Obviously except for rent rolls, expenses and lease agreements.

Ours is honestly just COC return as well as if the property can appreciate. We have one in Alabama that is amazing cashflow no appreciation at all. Currently looking in AZ where we live because you can have both here :)

Post: Motel turned apartments?

Sabrina MaplesPosted
  • Realtor
  • Arizona
  • Posts 29
  • Votes 6
Originally posted by @Philip Cook:

@Sabrina Maples

I talked with a commercial loan officer today, and he said they have worked with several people to do conversions like this. The bank seems to love lending on them. Some of the others I've talked to couldn't really understand what I'm trying to do and seemed to be freaking out from a risk perspective. 

So, if you get to the point of trying to find financing, ask around and find an investor friendly bank. I had three different investors recommend this bank. 

You can tell when you talk to banks which ones are investor friendly and which ones are not. Most of them when you ask them for a pretty basic scenario the bank is like...uh no we don't do that. I've also gotten I have no idea what that is. 🤣 I would love to take this motel down I just don't have the capital myself yet.

Post: Motel turned apartments?

Sabrina MaplesPosted
  • Realtor
  • Arizona
  • Posts 29
  • Votes 6
Originally posted by @Michael Orlando:

This is something my partners and I are looking to do on a property right now as well. We're leaning on the side of "air bnb motel" as opposed to long term rental, but I guess it's very market dependent on what that area would support best.

That could also work too. If you made them like super cute on the inside. Kind of give them a theme just opposed to the regular motel vibes. I have heard many people are doing Air BNB currently just to get out of there homes and stay somewhere else but still not be around people. Maybe if you promised you would rent every other unit out maybe that would make people comfortable with staying there. 

Post: Motel turned apartments?

Sabrina MaplesPosted
  • Realtor
  • Arizona
  • Posts 29
  • Votes 6

I think because the more afford housing side of things is always in need converting these into them would be a great benefit to the city as well as a good cash flowing model.