All Forum Posts by: Brianne Leichliter

I got a random email today.

My initial thought is to always think this is a scam.

Anyone heard of them or worked with them?

@Clark Kirkpatrick

How long does a property need to be occupied with new NOI before the appraisal will come back higher?

I'm getting information from a lender that an appraiser may not make any adjustments for a few years to the appraisal, even with higher rents.

Thoughts?

 Thank you for the feedback!

2-1 unit and 4 1-1 units.

the cashflow is $600+ after all expenses (vacancy, capex, garbage, water/sewer, taxes, insurance, lawn care, property management).

This is with rents staying as is, but based on the comps in the area, I can raise rents by $100 on all of the 1 BR units. I also plan on doing chargeback for the water/sewer to the tenants, so cashflow would improve. 

I feel pretty good about the figures, I just wasn't sure if most people would be looking at a minimum cash flow per door rather than strictly the cap rate. 

20% down, 25 year term, 4.9% interest. Commercial.

Understood. I am already preapproved for a commercial loan. Cap rate on this property is 10%, which is good for the area.

On this size unit, I am mostly concerned about cash flow as it is a small commercial. $200 per door is typically "good" on a deal for a 4 unit. What is "good" cash flow on a 5 unit?

I ran some pretty solid numbers on a 5 unit that I am preapproved for.

My question is should I be focused more on the cap rate for a 5 unit since it is technically commercial, or stay focused on the cash flow per door similar to a 4 unit?

@Brant Richardson

I'm curious to know where you are getting a 2.75% interest rate on student loans.

Hello!

So I am currently going through a divorce, and because I live in PA, it is a community state. Buying anything before a divorce is final is risky business, so I'm thinking about a creative strategy that I can get started with since I'm not sure how long the divorce will be until it is final.

I thought about seeing if there is something an attorney could write up that my spouse signs that he "gives up" any right to properties I purchase going forward, but I don't know if that would stick with a judge.

I have a potential partner, and I am wondering if I can work it out with my partner to buy and hold the property in the partner's name only until the divorce is final and then add me to the deed. This obviously would need to be a legal agreement to protect me from getting burned on the deal as I will be doing the property management. The partner is the money.

Am I crazy for thinking this could work?

Any advice?