All Forum Posts by: Amanda Hensley

@Chris Winterhalter 

 - I never thought to look at the SBA, good idea!  That's very interesting...

Thanks @Bryan L.  That's what I suspect as well.  We have a good relationship with our local credit union, I will see what they have to say.  The numbers look good enough for me on the deal (not as good as TN but it's Portland), regardless if we lived there or not - we're just tired of living in the suburbs, LOL....  I either want to be completely remote, or in the thick of things...

We are considering our next investment, and one of the things we've been thinking about is moving into multi-family / apartment buildings.  There is a 5 unit building near us and I think the numbers are OK on it (not swell, but it's Portland, so they should be consistent and we like the area). If we pursued this, we would actually consider moving into one of the larger apartments and renting out our current residence (it will rent EASILY and we do want to hold onto it for appreciation purposes).  

Since this is a 5 unit, I don't think we can qualify for residential financing with this (which would have given us a better loan rate and terms since we'd be owner-occupants), but I'm wondering if there is anything similar in commercial lending?  

Thanks in advance for your opinions.

I personally would be very reluctant to trust the repair cost estimates and ARV from someone who had not been to the property themselves....

Private lending / seller financing / creative financing... 

Interesting!

I am not familiar with the selling side of things, you have to disclose when someone was killed in a home?

Have you estimated the roof and cosmetic costs?  How certain are you of those numbers?  Can you think of any "gotchas" with the house that you haven't considered?

I agree with @Jeremiah B. I wouldn't put one in either.  

 - garbage disposals are a pain in the a$$  - you're not really supposed to put much food down them at any one time - they're prone to clogging up and they are NASTY to clean out.  (I clogged ours three times before my husband laid down the law and said if I used it again, I'd be cleaning it out myself... )

Welcome!  This is a great place to learn and network.