All Forum Posts by: Carl Fordyce

i was listing to a podcast on multi family investing the guest that was being interviewed said that they did seller financing for the down payment on their first multi family property.  im considering the purchase of a 6 units and this caught my attention.  is it possible to do seller financing for the down payment in today's market, and if so considering that the average down payment is 25% down what are some ways that i could structure seller financing for the down payment?

i currently own a 4-plex I'm considering a 6 unit but I'm not sure how i should run my numbers on it because of how its set up.  its technically 2 triplex buildings right next to each other but their on one deed.   in this situation is it  best to run the numbers for all six unit at a time or to separate the two buildings and evaluate the numbers for each building separately at a time.

my question is in regards to monthly budget as to weather or not to add it into my monthly budget or save up a reserve and no longer be into my monthly budget 

What is the best way to deal with Cap Ex monthly expenses?  Here's two methods that I was considering when I'm calculating my cap ex cost and  wanted some feedback as to what is the best method.   

Option 1: Build the Cap Ex expense into the monthly expenses of the property for the lifetime of the property as long as I own it.

Option 2:  once I reached a certain amount in capital expenditure reserves then  set that money aside and don't use it until its needed and then once I have that reserve of Cap Ex money set aside  I could then I could roll in my previous monthly cap ex expense into monthly cash flow to increase it even more.

 What would you guys suggest is the best option for dealing with Monthly Cap Ex cost is it anyone of these two  options mentioned above or something totally different?

thanks everyone for your insightful replies 

what do you guys think is the best way to determine  how many properties do you need to reach your income goal.   in other words should I base it on the number of units I need to get to my  monthly income goal or the number of house/buildings to produce a certain number income  per building to get to my goal.

 For example if my goal is to make $5000 monthly cash flow  should I try to figure out how many units do I need to get to that goal or should I just go by how many houses/properties do I need to get to that goal.

while i was doing my numbers for a property i included maintenance and repair at around 5% should i categorize lawn care and snow removal under the category of maintenance and repair or something else?  if no what would you suggest i categorize it under?

thanks for responding Wesley W.  Any suggestions that you wouldn't mind sharing with a out of town investor like myself.  my biggest hurdle i perceive is connecting with local contractors for any emergency repairs.  any suggestions

I'm from the Long Island area of NY I'm considering investing in the capital region of NY(Albany Troy Schnectady etc) for buy and hold. Before I do I'm trying to find some good reliable property management companies that work in that area.  Does anyone have any recommendations that they wouldnt mind referring to me.

Thanks