You should ask what kind of metrics they are looking for when buying an existing hotel/motel/inn type of business.

Yes, $770,000 is really low for the area, but my original point was that these deals do exist on the MLS in BA.

You can't offer someone who owes $200k on their mortgage $25k down with seller financing (check out https://www.biggerpockets.com/...), so another important piece of homework is to try and figure out how much the seller owes.

However we see light at the end of the tunnel: we can pay off the mortgage in another 2 yrs and avoid the balloon payment, then we calculate finally earning profits during the 6th year.

I am also a commercial mortgage broker on 5+ unit multifamily.

Lease Agreement: Review the existing lease agreement and discuss the tenant's plans for the future.

100% financing does not exist on a DSCR loan.

If I purchased a multi-family property in 2018 and my wife establishes REP status this year (2024), can I benefit from doing a cost seg on that property. I never did a cost seg in the past. I have been paying a lot of...

Looking into cash-out refinancing and DSCR loans and all of that but I'm getting ahead of myself as I don't even have the 1 yet lol.Nobody in my family has any experience with this sort of thing so I'm just hoping someone can give me their opinion on if this investment makes sense.The home is currently being rented for 2900 total (all tenants are month to month and have been there about a year each) and my monthly costs would be 1,200 included taxes, insurance, mortgage etc.I am considering putting the home on section 8 because the fair market rent would make my monthly rent 4k+ but I'm weighing the pros and cons on that avenue.From what I understand the biggest costs to me as a home owner would be a new roof or fixing the pipes for any reason..

Hi all,The end of 2023 we purchased a 4-plex with $12224 in discount points on the mortgage.