All Forum Posts by: Christopher Brown
Christopher Brown has started 19 posts and replied 49 times.
Hello, I am looking to assume two properties. Owner is just done with them. I have two properties my self right now. Her loans are a VA and fha loan. What can I expect moving forward?
Post: lowest DSCR down payment options
- Posts 49
- Votes 12
Quote from @Erik Estrada:
You can look into getting the seller to finance in second position and possibly put 10% down on a commercial loan.
Post: lowest DSCR down payment options
- Posts 49
- Votes 12
Quote from @Doug Smith:
I know of no 10% Down DSCR loans. The lowest we have are at 15% down, but getting a property to cash flow with interest, tax, and insurance rates as high as they are is tough right now. It's also more expensive the less you put down. Most savvy investors are putting 25% or more down to get the properties to cash flow positively right now, but to answer your question. No, I know of no legit institutional DSCR lenders with only 10% down.
Thank you
Post: lowest DSCR down payment options
- Posts 49
- Votes 12
Hello again bigger pockets. I've currently found myself with a few options as far as properties to invest my 1031 exchange money with. I'm wondering if there are any 10% down DSCR loans available today as some of these deals have great cash flow potentional, but I don't have enough to put 20% down. Is 10% out there and exist? If so, please point me in the right direction! Thank you.
Hello, have an off market waterfront 12 unit in florida, market rents are $1800, seller is willing to seller finance with 500k down. Asking price is 2.05m
Post: 1031 exchange with 180k
- Posts 49
- Votes 12
Quote from @Sam McCormack:
Quote from @Christopher Brown:
Hello again bigger pockets. I have near 200k in a 1031 exchange account and limited time to find a new property. Looking for 6-8 units that will cash flow. Still don’t have any leads on any thing so figured I’d come to bigger pockets for some help once again lol please reply or message me if you have or know of any thing I could look into, thank you.
Chris, would you be open minded to looking at Small Multifamily? At 200k+ you can find that here. 6-8 units would be a little higher than 200k. Let me know if you would be open minded to that?
Post: 1031 exchange with 180k
- Posts 49
- Votes 12
Quote from @Doug Smith:
Quote from @Christopher Brown:
Quote from @Doug Smith:
What area are you looking in? You might have to broaden your scope as you get close to your deadline. With much higher insurance and interest rates, most savvy investors are having to put a lot more down on the properties to get them to positively cash flow. You might have to consider fewer doors to make the numbers work. At least that's what we're seeing both as an investor and a lender.
I live in Rhode Island, so I’ve been looking here since I know it best but also looking in Florida l. I often visit there and eventually want to move there. I don’t want to self manage any more, just figured I’d stick with the markets im more comfortable and familiar with, but I’m definitely open to looking elsewhere
We will welcome you to Florida. This is my Sunday mornin (my actual view at this very moment)...something I get to do all winter long. Hang out by the water and answer stuff on Bigger Pockets...
I’ll be there soon, hopefully within the next couple years!
Post: 1031 exchange with 180k
- Posts 49
- Votes 12
Quote from @Doug Smith:
What area are you looking in? You might have to broaden your scope as you get close to your deadline. With much higher insurance and interest rates, most savvy investors are having to put a lot more down on the properties to get them to positively cash flow. You might have to consider fewer doors to make the numbers work. At least that's what we're seeing both as an investor and a lender.
I live in Rhode Island, so I’ve been looking here since I know it best but also looking in Florida l. I often visit there and eventually want to move there. I don’t want to self manage any more, just figured I’d stick with the markets im more comfortable and familiar with, but I’m definitely open to looking elsewhere
Post: 1031 exchange with 180k
- Posts 49
- Votes 12
Quote from @Robert Ellis:
Quote from @Christopher Brown:
Hello again bigger pockets. I have near 200k in a 1031 exchange account and limited time to find a new property. Looking for 6-8 units that will cash flow. Still don’t have any leads on any thing so figured I’d come to bigger pockets for some help once again lol please reply or message me if you have or know of any thing I could look into, thank you.
Hello Christopher
It's great to see you back on BiggerPockets, and I'm excited to help you navigate this 1031 exchange journey. With your budget and desire for a cash-flowing 6-8 unit property, there are certainly promising opportunities out there. Here are a few avenues we can explore:
- City-Specific Analysis: Depending on your preferences, we can focus on specific cities in Ohio known for robust multi-family markets. Areas like Columbus, and Cincinnati have shown promise for cash-flowing properties.
- Off-Market Opportunities: I have access to a network of real estate professionals and may come across off-market listings that align with your criteria. These can often be hidden gems.
- Market Research and Due Diligence: I'll conduct thorough market research to identify neighborhoods with strong rental demand, potential for appreciation, and a history of positive cash flow.
- Connect with Local Agents: I'll reach out to my network of local agents to inquire about upcoming listings or potential opportunities that fit your criteria.
- Creative Financing Options: We can explore various financing options to maximize your investment potential and leverage your budget effectively.
- Negotiation Expertise: My experience in negotiations can help secure a property at a competitive price, ensuring you get the most value for your investment.
Let's have a more detailed discussion about your preferences, goals, and timeline. Your satisfaction and success are my top priorities, and I'm dedicated to helping you find the perfect property within your 1031 exchange window.
Please feel free to reach out via message or reply to this thread. I look forward to working together on this exciting venture.