Austin Wood
Old 4 Unit Now 5 Unit/Inspection Necessity
We have the opportunity to purchase a five-plex built in the 1940’s for 230k. They pull $2450/month in rent but the landlord pays water and heat. Taxes are $300/month. Two units have new windows, two units need new wi...
Rachel Luoto
Help interpreting FHA "occupancy" clause??
Good morning!I am in the middle of an FHA owner-occupied live in flip. I was talking with my lender and he pointed out the following wording on my loan:"This offer is being submitted that I/we will occupy the property...
Paul G.
Small Portfolio Loans... Even Possible?
I have a Condo that I'm looking to buy with a partner. But it looks like the property wont be warrantable because about 50% of the units are currently rentals. I've been told that a Portfolio Loan could work in this...
Michelle Pinneo
Refinance a loan
First post, I have a few questionsLets say I purchase a $100,000 multifamily property, and I put $20,000 down. At the end of the year let's say there is about $5,000 paid into the loan from rents and the original $20,...
Brian Poole
I need help with my Direct Mail campaign
Hey team,I'm starting my first Direct Mail campaign and I'm looking for advice on writing yellow letters. I would appreciate advice and tips from anyone who has had success with their yellow letters. I would try to as...
Lawson Ott
should i do a 0% down USDA loan?
so i am looking into a property which is for sale on a USDA loan with 0% down.they are asking 65k and are willing to pay closing costs.they refuse to rent or land contract.USDA loans are one of the few things i haven'...
Devonte Blackmon
Hard money lender "?"
Hows it going bp. New and just asking questions as they come to my mind. Iam a homeowner sense april 2017. Im curious on what to expect when applying for a hard money loan. Also is there a certain credit score you sho...
Garreton Smith
ATL 21 Unit Apartment Deal Value Add Deep Dive (Deal or No)
Hello BP Fam, I've been running numbers on several value-add commercial apartment buildings. Most of the deals I'm finding are on LoopNet. I wanted to share some numbers and deal breakdowns with anyone who wouldn't mi...
Max Mercado
Good idea to purchase from a nonprofit organization?
My husband and I are considering purchasing and rehabbing an old Catholic convent into several apartments. The Catholic Diocese is giving a good price but selling the 100+-year-old three-floor property as-is. We had...
Sean Bramble
Atypical foundation - will lenders lend on this?
Question for DSCR lenders: I'm looking at a potential STR property that has an atypical foundation. Namely that it has exposed rock in the basement. It's a log cabin, so my hunch is it's not your standard slab foundat...