I was born and raised in the Bronx.

Hello BP,I'm a long time MFH and SF GC in the Houston area, and now I manage to secure a piece of land in the DT area to develop my first multifamily project, the biggest challenge I'm facing is raising the equity capital ($4M).

If you can add value by raising rents and/or lowering expenses, then a low cap market makes a lot of sense.

Or does that mean that you cannot raise the rent?

When it comes to actually securing a contract on a home that appears to meet your criteria, here are some tips (outside of simply raising the price):1.

My plan is to raise the rent to $725 on paper this works out to be a good deal making the 1%. 

I’m looking to raise $50,000 for a down payment and I’m wondering exactly how you would convince someone to give you cash.

Fortunately, our rental will show up on 2 years of tax returns, as $5k/month of rental income since August 2021, but only $2,400 of rental income in 2020, as the previous owner hadn’t raised rent since 2012.

Because that’s what you’d be doing if you didn’t raise rents. 

FHA raised their loan limits today, however it’s still low compared to the Miami market.  3 family house I’m looking at appraised for 787k.