All Forum Posts by: Joe Gilroy

Thank you Remington and Jim for responding.    I am wondering if I might qualify for a business loan ?  

Your goals and story: Goal is to buy a duplex or triplex.

Type of property: duplex or triplex

Location of property: Ohio, or Pa.

Purpose of financing: purchase

Type of financing sought: Not sure

Occupancy: owner occupied – live in one unit and rent the other unit out

Value of property at present and/or your offer price: $ 120,000

After repair value: $ na

Anticipated or actual appraisal issues: no,

Current rents per month: $ 700

Fair market rents per month: $ 700

Down payment or equity: 5 % or 10 % down

Source of down payment funds, if applicable: own funds

Income Source: retired,

Gross monthly income (optional): $

Monthly debt obligations appearing on credit report, plus (if applicable) personal rent and alimony/child support/etc: $0

FICO: Excellent, .

Credit issues:

Additional details: Looking for Stated income or Alt Doc type loan

What is meant by " 5 by 5 Double " ?    I saw this while looking at details of Multi-family listings in Cleveland.   Thanks

Thank you Malgorzata and Sergio !   I will check out that tax estimator ! 

Thanks everyone !   All very helpful !   I appreciate the help !  

Thanks everyone !   All very helpful !   I appreciate the help !  

Condo Rental Deal Analysis

Purchase price $54,000

Location Broward County, Fl.

Type property Condo

Beds 2

Baths 2

Sq Ft approx. 1000

Down payment 20%

P & I $204

Taxes $38

HOA $274

Insurance $53

Total $569

Expenses

Vacancy 5% $70

Property Mgmnt $140

Capex 5% $70

Total with expenses $849

Rental income estimate $1400

Positive cash flow $551

This seems like a good deal to me -

Am I missing something ?

Like a possible Membership fee ?

Or a policy that does not allow investors ?

I got most of these numbers from Redfin  

Thank you !

@Hadar Orkibi   Thank you  -  I mean for buying

@Charles Seaman     @Robert Martinez  @Evan Polaski   Thank you for your replys -  I appreciate your time for responding !

Hello BP Community, 

How do you identify the best local Multi family Real Estate Brokers for any given metro area ?  

Thank you