All Forum Posts by: Alpesh Parmar

Kevin Santos I would like to know this as well. Here is what I learned from closing of a 9 unit in Dec. 1-4 units are considered residential and mortgage would be sold to Fannie/Freddie. Over 4 units but less then $1M in loan is considered a commercial loan which can not be sold to Fannie/Freddie. Banks will have to keep this loan on their portfolio so the rates are high, loan is recourse and terms are not good. If the loan is amount over $1M then you can get a commercial but agency approved loan.

Thanks James. I am running into same problem. Next time, I am in Atlanta; we can grab coffee.

Hello,

     I have a property in Gainesville which requires some rehab work. My trusted contractor is very busy and the GC recommended by PM company has quoted 30% over what my GC would have charged. Can someone who is local to Atlanta or who is investing in Atlanta can recommend a reliable and honest GC?

Thanks in advance.

Here are some of the books I read in last 3-4 years and enjoyed. There are many more books. Rich Dad, Poor Dad - This book definitely opened my eyes and helped me start my Real estate journey. Think and Grow Rich - This book was a great introduction into learning to watch and emulate others who are successful in business. The Richest Man in Babylon - Good mindset book for wealth building and getting started in real estate. The 4-Hour Workweek. The Millionaire Real Estate Investor - I consider this book to be a fairly comprehensive guide to investing in real estate. Tax-Free Wealth - If you own a business and know it’s a successful and business, Tax-Free Wealth is a must read. Barking Up the Wrong Tree - Very interesting book from start to finish. What Every Real Estate Investor Needs to Know About Cash Flow. The Essential Handbook for Landlords - A good beginner's book for new landlords or wanna be RE investor. The Alchemist - I saved this book for last because it is the one that truly has meaning for me beyond simply being a great book.

What about $100/door with no money down in a C neighborhood on a SFR valued over $100K or 10 unit building valued at $500K?

Totally agree with Lane Kawaoka . I attended my first one last month and it was totally worth it.

Ryan Deeter you can absolutely negotiate. If the seller doesn’t have any tenants now and had a contract which fell through, he should be very motivated by now. Also, it depends if $10K additional work is on a $70K property or $300K property. If nothing else, you can ask him to come to middle so both of you share $5K.

Mike Choukour you can do that as long as the purchase price of new property is more than the two properties combined.

Totally understand, @Christopher Veljkovic. All the best!

Thanks again @Jason Cory. Much appreciated. I do see tons of properties being listed for rent in Center Point.