Ben Hunt
How strict is the FHA Self Sufficiency test?
I'm looking at buying in an off market 4-Plex in Austin Texas using FHA financing where passing the self sufficiency test is iffy.In my calculations, 75% of the total rent covers approximately 100% of the PITI. Howeve...
Ed Long
First Commercial Property (20 units) - Advice Requested
Hello,
I'm making an offer on my first commercial property. I've been investing in the area in 2-4 unit properties for about 15 years, and have decided that a larger unit will better fit my investing/return...
Alex Nelson
Should i disclose rates of competing lenders when shopping around
Hi Guys,I just got under contract for my first duplex and am exploring my loan options. I've decided to go with a 15% down conventional loan. I'm shopping for rates and one lender has offered me a 4.5% interest loan. ...
Neal Bawa
How the 1% rule could cause you to lose a lot of money
I see a lot of beginners on BiggerPockets using the 1% rule to buy small multifamily products such as duplexes or quadplexes. I own and manage over 1,600 units, and I started out in the multifamily world by buying dup...
Kathryn Bowden
Help, Appraisal wasn't ordered - what do we do now?
I really need suggestions, as I have never dealt with something like this before. Appraisals in our county generally take over a month once scheduled. Therefore, most escrow times here are set for about 60 days. We...
Jack B.
Good markets for inexpensive properties with good cash flow?
I was able to get three cash flow positive properties with solid CoC returns during the downturn, and part of the way up, but in the greater Seattle area it is getting harder and harder. Prices are too high relative t...
Dori Arazi
Commercial vs. residential, Tug-of-War
I have a couple of rental properties in California that I "stumbled into" as I purchased primary residences and moved. This is going to be my first attempt at taking REI more seriously. I have a good career that allow...
Kurt Granroth
Dissecting and Understanding a Schedule K-1
I just got my first K-1 from a multi-family syndication and want to understand it. This is the actual K-1 with real numbers and only personally identifying elements have been removed. I'm going to describe what I th...
Dion DePaoli
Wrapping a FHA Mortgage
It is almost daily that I see a new question or concern about Wraps and Sub2 here. It got me wondering just how many folks are aware of outcomes of some of those practices really are. It also begs the question, just...
N/A N/A
15 unit. 750K asking price. 650 rents. Good deal?
Hi guys
I'm considering this one.
Area is safe.
15 units, 2br each 800 sq ft, 1 bath
Rents 600 each
coin laundry in basement.
All updates are done. Needs nothing.
The asking price is 750K
Is that price good?...