Ask me privately.Financial Highlights- Gross Potential Rent: $98,061 per month ($1,176,732 annually)- Total Income (5/1/2023-4/30/2024): $1,357,459.80- Net Operating Income: $896,896.09- Existing assumable loan: $6.7M at 5.38% fixed rate until 2029Value-Add Opportunity- Partially renovated property with potential for further upgrades- Current loss-to-lease suggests room for rent growth- Opportunity to implement operational efficienciesMarket Dynamics- Huntsville's population grew 9.4% between 2020 and 2023- Strong job growth, particularly in aerospace and defense sectors- Significant multifamily supply growth (15.9% inventory expansion in past year)Investment Strategy- Assume existing favorable financing- Implement value-add renovations to drive rent growth- Capitalize on Huntsville's robust economic expansion- Target hold period: 3-5 years to align with loan maturityRisks and Considerations- High market-wide vacancy rate (17%) due to recent supply growth- Potential for market softening due to rapid inventory expansion- Property age may require significant capital expendituresThis opportunity offers a blend of stable cash flow from the existing operations and upside potential through strategic improvements, all underpinned by Huntsville’s strong economic fundamentals.ⓘ This is not an offer, solicitation of an offer, to buy or sell securities.

Get it under agreement for less than asking price and offer to bring the loan current and have them carry that loan.The way I see it is they are just getting MLS properties under agreement - the last five I looked at had been sitting on the market for more than 150 days (overpriced) because the payoff of the loan would not be satisfied at lower price point. 

LP/GP equity construction loan How did you add value to the deal?

The policy must provide a minimum of $[amount] in liability coverage.

(Get an owner occupant loan.)Can you seller finance it for more?

If you want less leverage simply put down the funds you would use to pay down the 6.4% rate on the new property so you are at say 60% loan to value on the new house.

Biggest piece of advice: Don’t overthink it—your first deal won’t be perfect, but it will be your best teacher.If you ever want to talk through loan options or strategies, happy to help.

I have 2 other monthly loan payments I would like to pay off or lump in with my refinance as I believe with the forced appreciation and normal appreciation I will be able to pay off most my HELOC (5.99%) and all of my Credit Card that is currently at a 0% APR until end of May.

Thanks for sharing and providing awareness!

keep going after it. run lots of numbers and do a lot of underwriting. feel free to reach out at any time if you need help in your market. these properties that are 3 units are rented and then a cash out refinance that not only makes money but returns full capital to the investor on DSCR loans similar to the interest rate you mentioned above.