All Forum Posts by: Charles Carillo

@Rosa Kim

Great to have you here! What type of real estate investing interests you the most?

@Derrick Allard

Every investor's expectations/requirements are different. I personally will not invest in small multifamily unless the cash on cash return is 10%+ because of the hassle involved.

@Zack Reder

Unlike with agency debt that is pretty similar from lender to lender; small multifamily lending differs greatly from institution to institution. The best way is really to create a list of local banks and credit unions within say an hour drive of the property and contact them all. I have found 25 year, fully amortizing, fixed rate debt on small mixed-use properties using this technique (I guess you would call it that). Also, you will save on the broker fee (just a bonus).

@Jake Steele

I believe the biggest issue is what happens in 12-36 months when those roommates move out and you still have 25+ years of a mortgage? How are you going to find roommates that you want to live with? I never house hacked a single family house before because of that, only 3 family properties since you can rent the units much easier when they are not living in your unit.

@Chase Guelette

Make sure to verify that is legal to use ringless voicemail in your state. Certain states have restrictions on this.

@Georges A.

There are a couple lenders that my partner has worked with for expat financing. The one he ultimately uses provides similar terms to conventional mortgages but I believe the rates are ~2% higher than normal; possibly a bigger down payments as well. DM me if you want me to connect you two.

@Elizabeth Gomez

I cannot post the link here because of self-promotion but if you want to DM me; I will send you our Meetup info.

@Lloyd Reavis

I am able to refer a RE attorney in Tampa; not sure about his experience with subject to deals. DM me.

@Keith W.

Yes, I agree with you, many red flags. A lender will always want to secure their funds with a mortgage and insurance. They will never wire the money to you directly. Any reputable lender is never going require points upfront; this will come out of the loan proceeds.

@Addison Dunham

It is great having you on BP! It is a great time to start educating yourself about real estate investing.