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19 April 2024 | 5 replies
This type of financing will typically look very different and more like a traditional commercial real estate loan.That means a DSCR calculated based on a full NOI and expense load (so inclusive of vacancy loss estimates, credit loss estimates, repairs and maintenance, utilities, management fees and more – in addition to the property taxes and insurance expense that are the only expenses factored in on traditional residential style DSCR loan financing).Additionally, the DSCR minimums are generally going to be higher (typically up to 1.25x), the loan to value ratios lower (higher down payments) and underwrite more sophisticated (which makes sense considering the size and scope of the property).Many multifamily investors for properties of this size (such as more than 11 units) can syndicate capital and have more sophisticated financial and entity structures – its definitely a different world once you get up here in unit count.In Conclusion – when you are looking to invest in multifamily real estate and finance your investment – make sure you have the unit count in mind before you start shopping – the unit range can have a huge effect on your options.
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18 April 2024 | 13 replies
Lets face it, some 10 or even 20 numbers you could just write it down on a piece of paper or an old fashioned addressbook...You mentioned: "I'm assuming PM collect the payments, manages the lease, track tenant activities etc."
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19 April 2024 | 7 replies
The requirement to accept Section 8 does not mean you have to accept his lease violations.I suspect he shopped around and realized he couldn't afford anything else, so he's desperately trying to stay.
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18 April 2024 | 6 replies
Are there services that you could shop around for to save money?
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18 April 2024 | 12 replies
As such I'm shopping around for property managers.
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18 April 2024 | 5 replies
I was just hoping to find a few others so I could shop the terms around.
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20 April 2024 | 33 replies
Personally, I am fine keeping my deal analyzer separate from the management of the properties I already own, but I suppose there is some value to one-stop-shopping.* Platforms that try to be all things to all people: This category is mostly Stessa and Baselane, both of which offer landlord accounting, self-management tools, as well as high interest cash management accounts.
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18 April 2024 | 2 replies
We just had the CMA sent to us and we have the ball rolling with a lender for pre-approval - we have not begun shopping for a property yet.
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18 April 2024 | 33 replies
Unlikely the property I purchased in June that apparently had "2 units and a Sandwich shop" when it in actuality was a duplex.Good Luck and ask more questions if you want!
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19 April 2024 | 20 replies
I recommend shopping around a few investment focused lenders/brokers to compare rates and terms.