All Forum Posts by: Lane Kawaoka

Just have to get on the horn and call credit unions and community banks. I think the silver standard is 5.25% for 80 Ltv.

Christian Bateman In Chicago just make sure you are accounting for 2x taxes. The Cashflow looks amazing but you just need to run your own proforma with these nuances. Also beware about the pro-tenant laws in this Blue state.

Jonathan Tea Hey you got some good answers there but the three questions you asked were #basic and I really urge you to keep learning for at least 90 days yo. 1) You asked about the 75k properties and yes you can find people to rent them for 900 but these are on the lower end and it just screams who is looking at the marketers proforma and not knowing the S that can go wrong with these lower class tenants. 2) LLCs are usually talked about by newbies since they always seem to put the cart before the horse. Plus it's a pass through and therefore has nothing to do with how you are taxed. 3) If you talked to a lender and discussed what you are doing you would already know the answer. Look I'm not trying to be a jerk I just don't want you to get taken advantage of. When someone hears #2 stated above they smell blood and know you don't know anything. I didn't really figure what was what until I bought my third property and I knew I over paid by 5-10k per property in the offer price and due-diligence/inspection period. Most importantly stick with it.

They are all commercial and portfolio loans are different. Portfolio loans are loans that are held buy little banks. Commercial loans can be bought and sold by a small bank and sold around.

@Jacob Cohen second that about Condos. I just wrote about that a few minutes ago:

https://www.biggerpockets.com/forums/55/topics/287945-aloha-from-honolulu?page=1#p1876270

I have three national contacts that all the cool kids are using but they are not local in Seattle if your interested.

When I underwrite my acquisitions I assume that if I buy for 100k to today it will be 105k in 10-15 years.. Basically paying the commissions and transaction costs.. If your looking for a short buy and sell you should not be looking at these type of properties.. These are END GAME pieces.

I'm perfectly happy holdings indefinitely because of the irr and Cashflow.

@Rebecca Hartman what's the HOA on that condo? The reason I ask is that in Hawaii a nuance that you need to be aware of is that HOAs are 300-600+ even for minimal additional services. Call it sunshine tax.. Just like when you buy in Jacksonville Florida you need to underwrite 3x insurance or Chicago you need to account for 2x taxes, don't forget the minimal 400 dollar HOA.. I know it's a total buzzkill.

@Jerry W. you big up a good point. A good broker won't really want to bother with you because you seem like a PITA, no dis-respect.

I bought one property aboad cause one peer investor said it worked. I'm an Industrial engineer so I can figure technical analysis with the best of them, but in this business it's better to learn doing. Test small though then scale.

Oh my goodness, just worried you might be one of those shelf help people putting the cart before the horse. Have the courage to take action. Let me know if I can help.