All Forum Posts by: Chris Webb

I think the only way to do that is to wrap it with HTML or CSS on a webpage. I used to use this trick on Blogspot where I adding in what I wanted converted it to HTML and then put the code on my website. I can try to walk you through it if you would like. Just let me know. Chris

Hi @Evelyn Wangai, thanks for sharing! You should check out the book "Hold." It has some agents who invest right there in Denton! Also, check out One Rental at a Time on YouTube. And, If you want to learn more about Cash on Cash return take a look at my videos on YouTube under InvestLYH. Good luck!! 

Quote from @Chris Agun:

Quote from @Paul De Luca:

@Chris Agun

What's the projected CoC and cash flow? Do you have other opportunities that you are considering?

 So I don't know the exact rent amounts.  As of right now though I'm just looking and waiting.

I would ask the seller/owner what the rents are. Or, it you work with a property manager them the area average rents.

I am looking to speak with someone who has 10+ units in Tallahassee FL. Please DM me with any information. Also, this is not about selling, I am looking for information. Thanks! 

Awesome! Have fun in grad school and good luck with your new career!

Quote from @Alexander Glasser:

Quote from @Chris Webb:

Hi @Alexander Glasser, that sounds great! if you have no money in a deal then any cash flow is positive. 2 things, 1, what rates would you get? I assume 7ish for the conventional and you could even do a 1% interest-only loan for the seller carry. This will lower your financing costs which will increase your monthly cash flow.

2. Have you talked with the seller about this? I had a seller agree to carry 40% for a deal I was working on and it was tough to get them to agree to 2nd position. I see this as the only hurdle. Do the leg work and keep us posted. 

I am closing on my personal home on the 17th of this month. I got a 5.99% 30 year. So I assume somewhere around there. 

I will work on getting the seller to carry but if I were to do this deal how I am thinking of structuring it. Do you still think the 720k is too high? I am having a hard time running the numbers with the two rates. This would be my first time trying to do a seller finance this way.  Any help on this would be appreciated. 

 I would talk with a lender to firm up your costs. What is the rate and the monthly payment for the first, for example with my deal it was going to be 7.5% for 200K and the monthly payment for loan one was 1427.86. The interest-only 2nd was 266 per month. This gave me a debt service total of 1693.86. Prop Man, Vac, and Repairs cost 880 monthly for a total monthly cost of 2573ish. The expected rents were 4400 so the monthly cash flow, initially, was 1827. You have to be sure that the cash flow covers all the costs monthly first and then work back from there. Separate out the rates and just add them in as inputs into the cost category. You would first need to find a lender who is comfortable with this type of transaction and can assist you with the closing.

One last thing, you mention that you are getting 5.99 on your personal home. Owner Occupied loans are generally lower than investments. Just keep an eye on investment loan rates, even from conventional lenders.

Chris

Hi @Emilio Attardo, I am not sure about the area, but be sure that you have a connection with either the base or a few employers for the MTR. Also, I recently saw this and thought you should see it too. Take a look and let me know if it helps. One Rental at a Time on Short Term Rentals in 2023. Good luck!

Hi @Chris Agun, I only look at initial cash on cash return for a purchase. How much income will my money buy - If I put 10,000 into a property what will it return me? I look for 7-10% at least in my area - lower lately because sellers are asking for 2021 prices, lol. What this means is I look for the rental rate and multiply it times 12 - then I take away debt, management, and a few other costs. This new number is then divided by the total money put into the deal. If it is 7% or greater, I verify the numbers with my team (Prop manager, Agent, Lender, Insurance, etc) and I will craft an offer. For a break down of this look at my YouTube channel InvestLYH where I do back of the envelope calculations in my local market.

One final thing, I would look at a DSCR loan where the property qualifies, not the buyer. I know a few lenders who do this but I am sure you can find one locally in CT.

Good luck and happy (house) hunting!

Exactly what @Paul De Luca said. Talk with a few lenders and ask them when the last time they completed on was. I worked for a lender several years ago and this is definitely something you want to have an experienced lender handle. 

Good Luck! I will be down in Durham this weekend visiting family. I have never been there and look forward to seeing the city. If you want a quick analysis tool look at my YouTube Channel InvestLYH for cash on cash returns of my local market in Lynchburg VA. Knowing how to do this quickly will set you above the other agents in your area for investors.