All Forum Posts by: Steven Fred

Ok, now you've got me intrigued... where and how did you or anyone else learn to discount so steeply? Where did you get your mentor?

The 2 properties are the result of a partnership separation and reo. I appreciate the response and I really would be interested in hearing about where and how you learned your skillset.

Thanks.

Ok, so I am a newbie and I would like some help to get some deals done.

There are two multi unit properties that I am interested in obtaining. One is an 8plex and the other is a 7plex. Both have two beds per unit and are in desirable areas. One has a cap rate of 10% and the other about 9%, however, if use a property management company, these change to 12%.

The 8plex costs 600k and the 7plex 500k, respectively they are c+ and b+ apartments. The 8plex is owned by a private seller and the 7plex is a reo.

I am already using a commercial re agent, but I want to know how to get these properties without using my cash or credit. Would anyone have some suggestions on how to do this? Private notes? Partners? Other ideas?

Keep in mind that I am a newbie, in addition to explaining what to do, please include how to do it.

Thanks