Newbie (kinda) Looking to buy multifamily or build

Warren, Michigan
Private Lending & Conventional Mortgage Advice
3yFollow

Newbie (kinda) Looking to buy multifamily or build

Tony BenacquistaPro Member
Sterling Heights, MI · Member since 2015 · 8 posts · 2 votes

Hi Everyone!  My name is Tony Benny (Benacquista)  I own and operate an egress window installation business. We are very busy with egress windows,But I recently started investing in real estate (and I love it).  I have a few rentals and I 've also flipped a few homes in the past 3 years.  I am interested in multifamily purchasing,  Anyone has inside info on financing on these I would greatly appreciate it.  I was a homebuilder 22 years ago before I started my egress window company, so I am also interested in build smaller scale multifamily to start.   Anyone in metro detroit area that has some insight, it would be greatly appreciated.  I can assist anyone in return with egress window issues (repairs, code interpretation and compliance) It was great meeting you all and I look forward to having conversations with you!!

0Reply
11 views

Most Popular Reply

Robin SimonBusiness Member
Lender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes
3y
Quote from @Tony Benacquista:

Hi Everyone!  My name is Tony Benny (Benacquista)  I own and operate an egress window installation business. We are very busy with egress windows,But I recently started investing in real estate (and I love it).  I have a few rentals and I 've also flipped a few homes in the past 3 years.  I am interested in multifamily purchasing,  Anyone has inside info on financing on these I would greatly appreciate it.  I was a homebuilder 22 years ago before I started my egress window company, so I am also interested in build smaller scale multifamily to start.   Anyone in metro detroit area that has some insight, it would be greatly appreciated.  I can assist anyone in return with egress window issues (repairs, code interpretation and compliance) It was great meeting you all and I look forward to having conversations with you!!


Check out my latest article on small multifamily DSCR financing just published last week on BiggerPockets! you sound like exactly the investor that really benefits from this type of financing

https://www.biggerpockets.com/...

[email protected]
Harpoon Capital514 Reviews
WebsiteView Page
1Reply
See this reply in the discussion

4 Replies

Jump to latestLatest
  • Rob BeemanPro Member
    Specialist · Philadelphia, PA · Member since 2010 · 298 posts · 118 votes
    3y

    @Tony Benacquista Tony, it depends on how many units you are thinking of. Having the flip and hold experience will help. I might be able to help you and will send you a PM.

    0Reply
  • Robin SimonBusiness Member
    Lender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes
    3y
    Quote from @Tony Benacquista:

    Hi Everyone!  My name is Tony Benny (Benacquista)  I own and operate an egress window installation business. We are very busy with egress windows,But I recently started investing in real estate (and I love it).  I have a few rentals and I 've also flipped a few homes in the past 3 years.  I am interested in multifamily purchasing,  Anyone has inside info on financing on these I would greatly appreciate it.  I was a homebuilder 22 years ago before I started my egress window company, so I am also interested in build smaller scale multifamily to start.   Anyone in metro detroit area that has some insight, it would be greatly appreciated.  I can assist anyone in return with egress window issues (repairs, code interpretation and compliance) It was great meeting you all and I look forward to having conversations with you!!


    Check out my latest article on small multifamily DSCR financing just published last week on BiggerPockets! you sound like exactly the investor that really benefits from this type of financing

    https://www.biggerpockets.com/...

    [email protected]
    Harpoon Capital514 Reviews
    WebsiteView Page
    1Reply
  • Eric Boshart
    Lender · Fort Worth, TX · Member since 2016 · 77 posts · 20 votes
    3y

    The commercial space (MF included) is a fascinating one right now. A lot of great resources on BP, including what Robin mentioned above. I'd recommend to really try to understand the MF market in Detroit as best you can. You can probably do so through reaching out to commercial brokers and asking what the going terminal cap rates are, hat areas are seeing the most activity, vacancy rates, Airbnb vs MTR vs long-term, expenses for each class of MF, etc. Once you get this data, you can being plugging these numbers into your underwriting model and getting the full picture of how to invest. Then, either looking at local banks or some of the national DSCR lenders will certainly help.

    Best,

    1Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free