All Forum Posts by: Abraham Kaplan

I just got an accepted offer for my first multifamily property. It is a townhouse complex. I'll be buying 24 out of 36 units. It is out of state and I don't plan to move there. Does anyone have a checklist they use? Below is a few items I thought of I need to do. Some could be specific for this deal. Thanks.

1. 1. Create Ipostal mailbox.
2. 2. Create an LLC
3. 3. Get a lender, preferably a local bank.
4. 4. Get a property inspector
5. 5. Find a property manager
6. 5.Talk to current property manager
7. 6.Check HOA

Thanks Mike! That is exactly what I'm looking for. I am looking for a multifamily property in the Tallahassee area. The Florida bank I was trying to work with doesn't lend in Tallahassee.

I'm looking for a bank that works in the Tallahassee market. I'm planning to buy a property in that market and I want to start a relationship with a bank in that area.

Anthony Hart at http://elpasohomes4rent.com/ manages a duplex for me in EL Paso. I think he does a good job. I live out of town and he takes care of everything for me.

Is it possible to use an IRA to get an SBLOC?

Before Covid I was able to get an unsecured line of credit with Wells Fargo. It was for 50k It was a personal line of credit not for my business. I have banked with them for a long time. It was very easy. I'm not sure if they have changed their requirements but you could try them.

Has anyone used Apartment loan store before? Are they a good source for lending?

https://apartmentloanstore.com...

You should join REI clubs in your area. Search google for them. You should also search Facebook for real estate groups in your area. Those are ways to meet people that know your local market well.

Are you looking for a hard money lender or private money from an individual? Where are you looking to invest?