All Forum Posts by: Sean Eads

@Bob Green this was a little of both. The unit is 100% occupied but has not had rents increases in years and thus well under the current market rate. Our goal is to rehab units as lease contracts expire in order to increase rents by 2019. 

Attention Greenville, SC multifamily/commercial investors/Lenders/Mortgage Brokers:

We are currently in negotiation of obtaining an off market deal: an 8 plex apartment in Greenville, SC. Looking for recommendations of local lenders/banks some of you have used to fund commercial deal and have had good experiences with that you may be willing to recommend . Thanks in advance!

Greenville, SC multifamily/commercial investors:

We are currently in negotiation of obtaining an off market deal: an 8 plex apartment in Greenville, SC. Looking for recommendations for local lenders/banks some of you have used in the past and have had good experiences that you may be willing to suggest. Thanks in advance!

Question for private money deals:

For those doing flip projects - how are you structuring your deals with your private money lenders whom don't require points. For a flip project in which you need 100k, are you offering them (lets say) 8-10% interest monthly or on total return after the flip is sold. For instance, a 100k private loan at 8% for 3 months would be 667/mon --> 2000 total return whereas 8% return on the 100k would be 8000. Obviously, the 8k return is more attractive for the private investor and less attractive for you as the flipper but wondering thoughts on how some of you all go about structuring deals where you are dealing with interest only payouts? Thanks!

Kmauri, welcome! I am also an investor from the upstate. Feel free to reach out to me to connect further.

How much trust do you guys put into using rentometer? What steps do you guys typically take when analyzing an areas rent potential? Take me through your processing and steps - especially as a rookie evaluating/offering on my first deal(s).

Also, how does it work with financing when I decide to move out of the property after a year or two and rent out both units. Will I have to refinance into a new interest rate since it will now be considered an "investment" property rather than a primary residence or will I be able to keep the original fixed interest rate? How does the process work when you are done "house hacking"

Looking at a duplex to house hack as my first property. It's looking like the one unit I plan to rent out will cover the mortgage payment but I am still left with an estimated 2-300 hundred in expenses that I will pay out of pocket monthly. With those that have successfully house hacked, was it normal to have some out of pocket monthly expenses the first year or did you guys break even and/or profit from the deal monthly?

Of note. If I move out after a year or two and rent out both units the cash flow will be around 450-550. Do you guys like this deal?