All Forum Posts by: Bayo Badejo
Bayo Badejo has started 4 posts and replied 12 times.
Post: Newbie looking to purchase 23 Units on Master Lease Agreement

- Investor
- Towson, MD
- Posts 12
- Votes 0
Post: Newbie looking to purchase 23 Units on Master Lease Agreement

- Investor
- Towson, MD
- Posts 12
- Votes 0
Post: 8 Unit MFU

- Investor
- Towson, MD
- Posts 12
- Votes 0
The cape rate was calculated at sale price with current occupancy and then 100%. If I understood properly.
Thank you
Post: 8 Unit MFU

- Investor
- Towson, MD
- Posts 12
- Votes 0
Hello BP members,
We are looking at an 8 unit MFU for an asking prince of $419,000. A price per unit of $52,375 with a projected 7.47% Cap Rate in 2015 or projected 11.16% @ 100% occupancy.
Right now 7/8 units are rented (I would still verify terms). The property is also located near a park. Property has 3 "newer" furnaces and 8 year old roof. Owner pays water and electric. Located 10 miles from downtown Cleveland in quite residential neighborhood. Property last transferred in 2008 for $480,000.
Could I use owner-occupancy financing and move into the 8th unit?
What's the cheapest money I can use to purchase the property (i.e. FHA 203k)?
Would underwriting use the revenue generated from other 7 lease agreements to qualify the loan?
Any other advice
Thank you!
Post: Subject to

- Investor
- Towson, MD
- Posts 12
- Votes 0
The 070 Podcast was great!
Post: Subject to

- Investor
- Towson, MD
- Posts 12
- Votes 0
Greatly appreciate your reply and the Mr. Tyler. I am going to contact Grant Kemp a call today!
Post: Subject to

- Investor
- Towson, MD
- Posts 12
- Votes 0
Hello,
I am working on my first "subject to" deal. I have the perfect renter/future buyer candidate already in place with bad credit, but he has over $15k I can secure for down payment etc. I need help producing a contract. Plus any recommendations for a RE lawyer familiar with "subject to" in the state of Maryland, preferably in the Baltimore County area.
Thank you,
Bayo
Post: what to do with 100K after cash out refinance??????

- Investor
- Towson, MD
- Posts 12
- Votes 0
Hey Scott K.,
Thanks for you input. I will check it out.
Post: what to do with 100K after cash out refinance??????

- Investor
- Towson, MD
- Posts 12
- Votes 0
Greatly appreciate your advice. Could you please suggest some zip codes to research?
Thank you!