All Forum Posts by: Shawn Ackerman

That's great I will check that out!

@Shelby PrachtIt was good talking to you man! "That front line is impeccable LOL!"  This is how BP should be used!!!  

I'm eternally grateful.

Shawn

@Nathan Schoenborn is your "2 on 1 lot" still available?

I would also suggest throwing in a few months of differed payments if the property is currently non performing.  3 months wouldn't be a stretch especially dropping a nice down payment at closing.  I'd say see if you can get away with that in the contract.

you may be able to get a better interest rate with seller financing opposed to a bank.  That's certainly an advantage.  I'd suggest stretching the financing out as long as the seller will go.  Many times you will find that sellers will offer a long term amortization loan due in a shorter period like 5-10 years which will mean a balloon payment at the end.  I'd take something like that at a lower interest rate then refinance out before the term ends.  If you can get in under 4.25 you should be in good shape.

$120-$150 per door are good numbers after insurance, water/sewer, PM,Cap ex, Vacancy,routine monthly maintenance,taxes, landscaping/snow removal and (Debt service? 47k Amortized over 10 yrs @ 5% =500.63 )  if the terms are doable for you and after inspection there is nothing egregious I'd say go for it!

Welcome!

@spencer sutton I will definitely be giving you a buzz.  I appreciate you reaching out.

Thanks Joey for the heads up.  I'm happy things are working out for you.  If you don't mind I'd like to connect with you over the private messenger.  

@Davon LoweryI see that you have the fortitude to keep pushing.  That is a very good quality to have in this business.  I've actually been actively looking in Milwaukee for the past 3 months and It's become a bit discouraging to say the least, but I'm still plugging away putting in offers etc...  If you don't mind sharing I'd like to know what zip you purchased in as I'm looking in 53215, 53216, 22 and 10.  

Glad this was a success for you we need more stories like this.