All Forum Posts by: Account Closed

Welcome to  BP.  Read, read, read and listen to the podcasts.

If I were looking for a multi-family, I'd stay on the east coast.  More properties were originally built as multi family to accommodate the larger population in the cities out here so there's no need to retro-fit a building to make it multi family.

Baltimore, Philly, New York and Boston.  That's where I'd go, in that order.

Also, Ned Carey has a great point about living within driving distance to your property.  There is no substitute for being there.  I had a property in Baltimore and I moved to Southern Maryland (about 80 miles) and was gone for a few months.  When a fuse blew and I went up to check it out, I found my tenants breeding German Shepherd puppies in a wood shavings pen next to the furnace.  

Please make sure, if you're not paying cash of course, that you go through the lender to order the appraisal.  Commercial appraisals can range anywhere from 1500 and up depending on comps etc... and if you order it, the lender may not accept it.

Good luck

Welcome to BP Melissa.

If I can help you in this journey, please don't hesitate to contact me.

Tom

I have a couple of questions

Why won't it pass the VA inspection is the first question?

Are you looking for a rehab loan?

I have owner occupied, no income verification money that would work for this type of property, but it requires 30% down.

PM me and we can discuss or call 301-751-1962. I have a strong VA outlet in Annapolis for you to call.

Thanks for your service; both as a veteran and a firefighter.  

Tom

Always helps to put a phone number when you want a call back.:)

Tom 

301-751-1962

We have financing for this type property.

75% loan to value max

650 middle score.

Rates as low as 6.99

Have your buyers give me a call.

Tom

welcome to the industry. I live close to you. Feel free to reach out. Tom

Nice to meet you Tim.  Thanks for your service.

Welcome to BP.