Jim Kreuz
Price Negotiation- Local RE Info to read and Non Monetary Terms
7 October 2020 | 2 replies
In general, what should I be reading, listening to, or subscribed to watch on Youtube so that I am armed with comprehensive multifamily knowledge, and plenty to speak about when an owner needs to be persuaded to sell at a better price?
Jonathan Bombaci
Unique Flip (no fix) - Worcester County Massachusetts
22 October 2020 | 4 replies
Jeanned D'Arc Credit Union in Lowell MA gave us a commercial loan at 3.5% on a 5/1 arm, amortized over 25 years with a 20% Downpayment requirement.
Troy Evans
How often do you recommend inspecting your rentals?
7 October 2020 | 3 replies
@Troy EvansOne of our management companies does a semi-annual "fire safety" walk through.
Andrew Gearhart
Branching into construction from rentals
9 October 2020 | 3 replies
I should probably add, my wife (who runs most of the projects) would be handling this arm of the business.
Eric Healy
Lender for the self employed
22 October 2020 | 3 replies
We used an asset based (aka "hard money") lender as we don't have W-2 "income" and my husband is our strong credit arm.
Eddy Wehbe
Buy or wait? Prices too high for good Deals
10 October 2020 | 10 replies
If you go to the Dr, with your arm hanging at your side, and when the Dr asks you what's wrong you tell him it hurts when you raise your arm.
Matthew Amabile
NJ Duplex Analysis Help
8 October 2020 | 1 reply
Some preliminary numbers are below.Asking price: $149,900Current rent: $1600 with ability to increase to around $2000Tenants pay electric, landlord pays heating oil and water.Taxes: $5300 annuallyI like to keep capex, repairs, and vacancy all at 10% for safety, so with a $1600 rent, they equate to $480 monthlyInsurance I would assume anywhere from $80-120 monthlyI have been looking for a seller financed property because I already used my FHA recently and that is my first property, so conventional lending is a little harder for me to get right now.
Matthew Amabile
Seller Financed Property Analysis
8 October 2020 | 3 replies
Some preliminary numbers are below.Asking price: $149,900Current rent: $1600 with ability to increase to around $2000Tenants pay electric, landlord pays heating oil and water.Taxes: $5300 annuallyI like to keep capex, repairs, and vacancy all at 10% for safety, so with a $1600 rent, they equate to $480 monthlyInsurance I would assume anywhere from $80-120 monthlyI have been looking for a seller financed property because I already used my FHA recently and that is my first property, so conventional lending is a little harder for me to get right now.
Robert Smith
Is It Worth Repairing A Wooden Backyard Playset?
9 October 2020 | 8 replies
Be sure to require renters insurance as a fall and a broken arm will likely result in some sort of claim.
Ross Billington
Biting Off Too Much??
9 October 2020 | 5 replies
Do your due diligence and budget a healthy safety factor (contingency) for your project.