All Forum Posts by: Jonatan Nir

@Gino Barbaro Hey,

I emailed you after your comment but I didn't get any email back.

Thanks!

Hello BP members! So far I purchased single family homes and I want to buy my first multi family property. I am looking to buy 20-30 units. I would like to know what are the due diligence checks I need to for multi family in a case i have figured out that the deal work for me financially. I am sure it’s different from SF. I will be happy for advices. Thanks!

Hey all I have a 24 units deal and I rase 250k for the deal. What model will be the best to offer my investor to share the profits? This is a first time I am working with investors.. Will be happy to hear about business model people here use with investor. Thanks for the help!

@Vincent Pace Thanks for your comment! Those lenders will loan for hard money only or also for long term loan?

Thanks again!

Hey,

i was about to get 6.5% rate 5/30.

but there was'nt option to pay penelty and finish the loan before the time.

What also i didn't like is that the loan is for 5 years and after 5 years you need to refi the loan.

It means if the price will go down next few years when i will refi the loan, the property will worth less than i bought and i will need to add money from my pockets to refi again because the value of the property.

Also there is cost for refi every 5 years,....

@Laura Williams

I am not sure that for 7% for buy and hold strategy it worth it...

@Laura Williams

Do you know what condition he got for the loan?

Thanks!

Any foreigner found a finance in normal rate?

All what i found was 6.75%-7.5%.

points in the beginning and in the end of the loan.

Very expensive penalty if you want to finish the loan before the time.

And maximum 5 years loan authorization of 30 years. Which means every 5 years you need to refinance the loan want cost you more money and again points to pay!.

Anyone found better deal than i did?

Thanks for your comments everyone!!!

@Chris LumLee thanks for the tip. How much capex I need to add in multifamily?

@Dylan B.of course I did. Just want to get in to multifamily first deal with minimum risk. After few months I will run the property I will finance it.