All Forum Posts by: Brandon G.

Can someone explain the different between a "dry" and a "wet" double closing. For those of you who do double closings, which version do you use mostly?

Buy and hold multifamiles is my long-term goal so I am sure the market will have changed by the time I'm ready for that. I was mostly curious to know if multifamiles actually exist in decent neighborhoods. You all have answered my questions. Thanks!

Thanks everyone for the great replies. I have a lot of reading to do...it's a lot to soak in all at once!

For those of you who don't mind sharing, I am curious how you go about finding and applying creative finance deals. For example, when you are marketing, do you do so with a particular strategy in mind or do you just have an arsenal of strategies in your tool box?

If you have multiple, how do you go about presenting each option to the seller? Do you present them with a list of options which you'd like to see happen or do you go down the list and as they shoot one down you present another?

I have no doubt that conversations leading up to the point dictate how you go about solving their problem, but it would be interesting to hear how those ideas are presented in a practical sense.

@Account Closed Thanks for the heads up. I'm still a long way from getting into multi families I just wanted to know if Dallas is a good market to pursue and thus begin researching or not and unfortunately from your reply I guess it's not. 

@Joel Owens I would say anything from 2 to 10 units would be my interest.

Is there a good market here in Dallas for multi-family properties? I don't recall seeing too many multiplexes here (though I haven't been in the business of looking). I've seen duplexes but those aren't in great neighborhoods from what I've seen.

Also, what type of cap rates are generally acceptable here?

For those of you who pay yourself a salary, do you do payroll in house or hire a company to do it for you?

I've read that there is a limit to the amount of mortgages an individual can carry (I think it's 5?). My question is does this limit apply in the same way to multi-family properties? So if the limit is 5, could an individual own 5 four-plexes (20 doors)?

@Christopher Gilbert & @Jon Holdman 

Thanks for the info. I am working with an enrolled agent and he's answered a ton of my questions. I just didn't want to bother him with one question if I could get the answer elsewhere. Plus he bills in 15 min increments so it saves me money! Thanks!