Luke Hoffman
Property meets 1% rule but still doesn't make sense
I am a new real estate investor in the midwest. I went to put an offer in on my first property (150K) and it makes the 1% (rent= 1500) rule on the money. However, when I used the rental property calculator on this sit...
Michael Ellis
MULTI-FAMILY Financing Advice
Hey!My partners and I have a property that would cash flow right when we buy it and of course there is potential to possibly almost double monthly rents. Sell price is 2 million so we would be putting 500k down. This ...
Mike Sherbine
Im not sure how to use the 1% 2% Test
When do you determine the 1%-2% test?
1) Purchase price
2) Purchase price plus rehab costs
3) Appraised value after rehab
Julian Dozortcev
FHA LOANS
Hello All, Can someone please answer this question. Am I still eligible for an FHA loan if I have an LLC with a partner and bought a 6 unit apartment building under the LLC?Thanks
Alex Geesey
Looking at an off-market duplex - What should I ask/want to know?
I'll be meeting with a fellow investor about a Duplex (possibly triplex) they are selling within the next week or two. I have met the person at their personal residence and had a brief discussion with them about it, b...
David F.
Commercial vs Residential Lending
If my solely-owned LLC finances a 4-unit new construction with commercial lending, can I later refinance using a gov-backed conforming loan in my own name? Assume the property meets all the requirements for a conformi...
Max Lichtenstein
Steps before buying Property
Hi BP community,I wanted to know what are your steps you take before buying a property. You get your pre approval mortgage from a lender and for the position I am in that is what I have to do. What do you look for in ...
Kelly McCullen
Starting w/ "The Math"
Thanks for the warm welcome. I was literally practicing the art of the basic 2% rule using gross rents and sales prices. I've yet to find a deal meeting the parameter by following "asking price," but it's good "math"...
Kenn Mccomas
New to Multi-family and need advice
I want to jump into MF but I'm unsure how or where to start. I hear a lot that its easier than single family and I have found properties I'm interested in but I don't know where to begin on financing, or even how much...
Anthony Rosalia
Where can I find a 3br rental property meeting 1% rule for $150k
I am new to REI and am looking to spend $150k or below on a rental property that satisfies the 1% rule. I am flexible on location and would love to stay in a c or better neighborhood. I’ve been looking in the surrou...