All Forum Posts by: Bryan H.

Originally posted by @James Wise:

A lot of commercial stuff is sold through pocket listings. Much more common than with houses.

How large is the building? The bigger the building the further out of the normal scope of work of the residential agent.

Looking at properties in the range or 6-12 units. Nothing huge, but something I can afford now. 

When looking for an apartment I often hear to build relationships with brokers. If there is nothing currently on the market, and they know I'm looking to buy they may bring me a pocket listing etc etc. 

What if a broker has a listing I am interested in purchasing? As a 1st timer, is it best to get another broker to guide me? Or should I go straight to the listing broker to negotiate the deal? 

Should I put my trust in a residential agent for guidance? Or must it be a commercial broker? 

I only invest out of state because I started investing in Michigan when I lived there and then moved away. I couldn't comfortably invest out of state looking at websites and stats.

Why do Californians that want to invest in real estate want to buy rentals? Seems like there is so much more to RE than rentals that could be done and keep focus local.

Offer seller financing, or lease to own 

Norm Praet of http://praetlaw.com/

Hi @Tim Herriage I'm curious how blanket loans work and wondering about this is example

The assumption is that the DSCR, credit, etc all meet B2R requirements.

Sample Numbers:

Current portfolio numbers

Could these properties be financed into one loan with a new purchase that would make the numbers look like this? 

1st property and new purchase now have a 75% LTV. Overall portfolio has 72% LTV. The money from the equity of properties 1-5 would be the down payment on the $300k purchase.

Does this make sense?

Originally posted by @Randy E.:

LOL. Do they really advise their students to do that?

That's exactly what Larry Goins does with HUD homes. Google hud homes half off

Scott K. Did I answer your question or was there more you were looking to know?

Jon W. For prices that I've seen asking price is between 300000 and $400,000. Areas where I found properties in this price range have been Fraser, Eastpointe, Roseville around those areas.

I'm looking at purchasing a 6 to 10 unit apartment in Macomb County and I'm wondering if someone local might be able to help me out. I'm wondering what the going CAP Rates are right now in that area. Thanks in advance