All Forum Posts by: Nathan Currier-Groh

Hi Ben,

I own two properties in Cincinnati. A 4plex and a storefront with 6 apts. I don't have a ton of extra time in my schedule, but I could help you with some or all of this or just planning. I have a M. Arch degree and run a successful digital fabrication shop. I'm also the design director for a custom furniture design build company. 

Most of the electrical and plumbing I handle with my crew and then I have a couple other electricians for disconnects and panel box work.

My interest is in talking with you first to see if it is a good fit and then possibly using my planning time and my crew for your work.

My father leads my crew and he has a lifetime of experience in all aspects of building. He does things right so you don't have to touch it again.

I also have an excellent mason, a custom cabinet specialist / handyman, and a couple muscle guys.

Well their feedback was questionable. On the one hand they said my profile, my wife's profile, and our business record were excellent. The other side was that they just don't like the real estate, neighborhood, and age and condition of the building, and the fact that it is mixed use.

I wasn't allowed to be present at the meeting and the loan officer did not represent me well. There were a whole series of photographs he didn't show. The concerns about the age and condition of the building are unfounded as they are easily remediated with minimal time or capital.

The issue about parking is also strange given that it is an urban neighborhood and it is quite common. There is ample street parking and the tenant class often doesn't have vehicles.

The place is already producing cash and I have two tenants lined up for the vacant units and I would operate out of the retail space.

I also offered up to $30,000 as a down payment and the structure of the deal was proposed by Spring Valley as being better. The more leverage the better when my goal is to do 3 of these a year.

It was frustrating not getting actionable feedback. 

I have a very strong deal in the works. 5 unit building with a retail storefront that I want to owner occupy with my other business. Professional inspection and walkthrough show about $15000 in repairs and replacement.

The bank had their round table today and killed the deal due to age of the building and no off street parking. I will probably use this bank again in the future. They have a great rep - Spring Valley Bank

Can anyone offer suggestions for another bank that will do investment properties, mixed use, with no parking?

The seller is offering $30000 as a second mortgage. I was asking for $40000 from the bank with an additional renovation line of credit of $20000. I have up to $30000 in cash, but the deal that fell through would have only required $10k down.

Thanks