All Forum Posts by: Todd Pultz

@Remington Lyman your not busting down quads at our prices in Dayton are you? Give a rough deal on a quad up there if you could, Ive seen prices all over the place. We got like 20 flips gone right now up your way. Send me some value add and let’s knock some doors down!

@Aram Schwartz I use my own title agency I trust that has in house attorney. I have used their also and all good experiences. Make sure you have title insurance, but the title work should reveal and title defects for you. No need to go get your own attorney.

@Aram Schwartz I use my own most of the time, but I have used theirs. All good experiences. Just do your due diligence and buy title insurance. Title company has to reveal any liens found on abstract. There could be a hidden one, but that’s what title insurance is for

@Aram Schwartz good points

I have bought a lot from auction.com and they have always conveyed a clear title. Any issues and the title company communicates that. However when you complete your purchase paperwork you put in there the title company you want to close with, so choose who you trust.

You have 30 days minimum to close and most of the time 2-3 months. They are super easy to work with

@Sebby Vasalo

@Adrian Fajardo absolutely connect! And I love to hear success stories or any story. Feel free to run numbers by me etc.

Maybe one hard money lender might not want to do all 4, but we have thousands of lenders out there and it's easy to establish multiple Llc's or series LLC's

Best of luck

@Leslie Crosten if you use a hard money lender they will often give you 100% rehab costs. They will place into escrow and you can take draws usually. Key is not to be leveraged more than 70% so you can refinance once rents are raised and rehab is done. You can refi at 75%-80%, but I like to be conservative.

Any expired lease immediately start raising rents unless your in rent control area.

Remember that appraisals on commercial properties are income based for a large portion of it, so raising rents and showing leases with higher rents is crucial. Also prepare the appraiser with notes on what you’ve done and pull your own comps that support your position

We do this at 6 months in most cases

@Paul Papamarkos

@bob Prisco is in Cleveland and experienced in both. He might be able to assist you

@Brian C. Your statement was that almost every investment will be negative cash flow in the first year! Completely inaccurate, but you said that because it helps you feel better about your deal. And your last post said it was fair to assume most real estate deals don’t recoup their money in the first year. Again, inaccurate. Quit using broad statements. We have closed a dozen multi-family deals this year and all were 0 cash in and all refinanced in 6-8 months pulling cash out.

Your a brick wall man and you got it all figured out! I say that out of love. But until, you open your ears and truly listen and hear things without your pride lens on, you will never reach your maximum potential.

If your an expert, post advice, but if your not post questions like you did. If you post questions have an open mind to the feedback.

Good luck to you man, I’m going to hop off this thread

@Brian C. Sounds like you already had it figured it out and didn’t need to post. If your numbers work they work, do the deal.

However, your justification paragraph shows how much you have to learn in real estate and unless your ready to be a sponge and soak up the knowledge that so many experts have on here, these forums won’t help you. I don’t claim to be an expert, but I have pretty good experience. With that said, let me explain to you how your statement on cash on cash return in your latest post was wrong..........a few examples

Many investors use creative financing including owner financing. Often times we get into owner financing with no cash down thus making the CoC return infinite so long as the property is cash flowing

Then let's use rehab example....I get HML for purchase and rehab, but need 10% gap and holding funding. I use a passive investor to fund that gap. I again have 0 cash in the deal and my cocr is infinite

Now let’s do a recent deal we did. We purchased 21 unit at 295k at 90% leverage. Needed 31k to close so we used a passive investor to fund the gap. Property already cash flowed. Raised rents, repaired and refinanced at 6 months with appraisal of 650k. Cocr was infinite because we had 0 cash in the deal after taking out first and investor we pocketed roughly 100k.

So your comment that almost all real estate deals are negative cash flow the first year is inaccurate. Actually the typical investor tries to brrrr in some fashion so they have 0 cash in at 6 months. We don’t want to leave cash in more than 6 months. Sometimes we do, but that’s not the goal.

Not trying to beat you up Brian, but you keep making inaccurate statements attempting to justify your deal.