All Forum Posts by: Account Closed

Hi all, 

I am trying to apply for LOC for investment properties with local banks in Houston. Does anyone has recommendations regarding the local banks around Houston?

@Sam Shukla Is that SF or MF?

If you are patient enough, you will get around 10-14 COC easily in Houston for MFs.

PM me if you have any questions. 

My seller is retiring and willing to seller finance for great rates. 

What are the downsides? 

Can I take out commercial equity line of credit on seller financed property?

@Michael Pittman I started with SFs as well. This is my 2nd deal.

@Kevin Wood  77019

Yes. Multi family. 1b1b and 2b2b

I am planning to buy a 20-30 units class B building in Houston inner loop area as a land play. What are the cap rates that you have been seeing in that area. 

@Andrew Johnson 

Are you writing your own bio to convince the seller that you’re legit?

Yes. 

Are you putting together a bio of your investors for this $3 million deal?

This is the deal that I am financing myself as a buyer. (no third party)

Sorry about the confusion. Cap rate is the 2nd part of the question. 

I was trying to get a sense of what's everyone cap rate if this is the land play. 

I am putting together a deal and seller is asking to write a bio. What should I include inside of bio ? (education, experiences and ??)

I am putting together about 3 m in prime location. Cap rates are not that attractive. This is more of a land play where per door price is 130k and rate about 6.9%. Building is Class B and tenants are 20-30s working crowd. Seller is very motivated to do seller financing since he is retiring. 

Any tips or suggestions?

Very interesting website. I would look into their contracts in details. It sound a bit sketchy to me.