All Forum Posts by: Toben B.

I finally have a small apartment complex under contract at a good price after a few years of trying to move up to larger units.

Does anyone have a good due diligence guide?

Thank you,

Toben

The 3/2/2 is the best here. 3 bedrooms 2 bathroom 2 car garage. 

Easy to fill and they stay rented longer than a 2 or 1 unit so you lose less on make readies and vacancies. 

I had a 4 bedroom and could never fill it, but the 3 bedroom next door rented for the same price quickly. So i call the 4 bedroom a 3 just to get it rented out. 

What would be a good replacement color for this apartment. building? Unfortunately the roof is fairly new so I would have to keep the shingle color.  It is looking pretty weathered and has some wood rot. Should I paint the bricks at the same time?

Thats a dangerous thing to learn. Am I protected if I load the properties into an LLC?

There are a bunch in the file section of bigger pockets for free. I found them confusing and ended up spending the money to buy one from Michael Blank. 

Hello,

I am looking at possible rates and terms I can expect when buying 8-16 unit apartments. 

The price will be anywhere from $250K-$400K.

I already have 15 rental units, I am just trying to add more. 

Can I get a longer than 20 year amortization period? Can I get better than 6%?

Thank you!

Originally I asked my tenants to deposit to my bank. 

Last year I asked them to switch to cozy but only 1/2 have done so far. 

Bank of America or Arvest

Now that I am trying to buy apartments I see tons of single family I can buy and make money with... But then I would not have a down payment for multifamily. 

Maybe I should become a wholesaler. 

Hello,

How do I find the appropriate cap rates for B and C properties in a region such as tulsa for apartments?

How does the size of the property affect the cap rates? I assume a 200 unit has a lower cap rate than an 8 unit. 

Thanks!