Question for anyone who owns large multi-family dwellings:I own an apartment building in Kansas that has a central fire alarm system.

If ever you are in the multi family wholeselling I’m a active buyer in Montreal and surrounding.have a great day

I'm based in Bucks County, PA, but I frequently visit Ocean County, NJ, and Southwest Florida.

That’s when you can get a lot of bang for your buck on the ARV side. 

Treasury’s kicking off bond auctions with a $58 billion 3-year note today.

Also many title companies TODAY require a KNOWN notary.. so either they do it or they send you a vetted mobile notary that will cost you 150 to 200 for each sig.and yes this is why you dont buy the way the OP bought.. now he has a to chase his tail all to save a few bucks up front on title and escrow fees.. 

I already own one multi family property but it’s been a while since I haven’t managed to find a way to scale into more properties, right now, I feel like I got the strategy in place due to his mentorship and the strategies he breaks down on his masterclass.

Anyone investing in small multi family in Chicago?

Below are some general notes on DSCR loans:* usually used for single family or 2-8 multi family unit properties (fits your scenario)* must be for investment, non owner occupied (if looking for a product for alternative qualifying solutions for owner occupied there are other products)* can close in a personal name or LLC* usually 80% LTV for a purchase (20% down payment) & usually 75-80% LTV for cash out refis* prepayment penalties vary and are optional, but the higher the prepayment penalty, the lower the rate / options typical range from no prepay all the way up to 5 year prepay and structures vary for how those penalties work (3 year is my most popular by far)* appraisal most likely required and paid out of pocket during transaction* can be used for long term, mid term, or short term rental properties * generally 1%+ is the desired DSCR ratio but you get better rates if the ratio is higher (usually rate breaks kick in at 1.15%+ or 1.25%+) and you can still get the loan done if ratio is lower than 1% but the rate will reflect that (DM me if you wand help learning how to calculate the ratio)* the average time to close is 21-30 days* fees vary lender to lender and product to product, but $1595 underwriting plus title fees is pretty standard* 700+ credit is preferred to get max LTV, but plenty of options if credit falls below that* a typical loan minimum is $75k (have limited options for $50k+) and typical loan maximum is $3-4m (have limited options for $4m+)* 3 months reserves usually required, having 6+ months will usually result in better loan terms, 0 reserves can still get the job done if you go with a program that allows you to use the cash flow as reserves* 30 year fixed, IO, and ARMS available

Furthermore, when I close on a multi-family, it will be my primary residence.