Hey BP,I am looking at 5-plex opportunity deal and was hoping for a little insight on cap rates there.The property located in 35204 zip code.Does anyone happen to know what average cap rates are at right now in that area?

Please note that I am not discussing the business idea or the rate of return because I am fine with both and don't want that to be part of the discussion.

Hey BP, I am looking at 5-plex opportunity deal and was hoping for a little insight on cap rates there.The property located in  35204 zip code.

With rates high, it's harder to cash flow when you house hack now, especially if you need a larger unit.

I'm willing to bet dollars to donuts they pay below market rates.

My dilemma is that I worry that commercial lenders won’t fund any renovations or wrap it into the loan.

@Joseph DaviniI agreeBut I wonder where all the “housing shortage” folks and “interest rates coming down prices will double” people are?

FHA loans on multifamily will likely have the self-sufficiency test for 3-4 unit properties and with current interest rates virtually every property is unlikely to pencil. 

The rate you are offering sounds low in my opinion. 

As a mortgage officer, I can assist you in understanding loan products that suit your investment goals, such as conventional loans, FHA loans, or portfolio loans.Property Management for Self-Owned Properties: Leverage your management skills to maintain high occupancy rates and maximize ROI on your investments.I am a loan officer licensed in NC, feel free to reach out if you have any questions or need assistance with financing options.