The last lender I’ve tried to get a pre-approval had a, imo, patronizing response saying,”Although lots of people talk on social media about buying a three or four unit property with only 3.5% down in practice it almost never works.”All lenders who I’ve tried to give a pre-approval for has tried to sway me to switch to a 5% conventional instead.

Lastly, they’re going to want a higher interest rate than they can get from the bank for taking the risk.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

The last one I dealt with for the past two weeks, is a large corporate cash buyer that just admitted that they need 90-180 days to close on a deal!

Are you aware that over 80% of Wall Street / Stock market companies DONT last that long?     

It could be the first, the last, or any of them in between. 

The seller said this is in a gentrified area so there's potential to rehab this effectively and get a high payout as shown in the last comp.

Rene - I'd like to ask a syndicator how have they navigated a high interest rate environment the last two years?

Tried getting quoted from OBIE last week and this is the response I received for some some properties in Central Florida:" Hello,Thank you for requesting a quote with us.I apologize currently we do not have any carriers available for your properties in Florida.

(I ended up getting my real estate license last year as a side hustle too) because I was dead set on flipping/building homes.