All Forum Posts by: Copelon Kirklin
Copelon Kirklin has started 45 posts and replied 172 times.
Post: 132 Units. Cleveland Ohio $4.3Million. 9.86% Cap.
- Specialist
- Kenner, LA
- Posts 289
- Votes 31
Income-producing properties such as apartment complexes, multi-family units, mixed-use, student housing, mobile home parks. Other income-producing properties will be considered on a case-by-case basis
- Up to 75% LTV
- Nationwide platform
- 5, 7, and 10 year fixed terms
- Loan amounts from $300,000 - $10MM
-Rates in 4% - 6.5% range
Post: 132 Units. Cleveland Ohio $4.3Million. 9.86% Cap.
- Specialist
- Kenner, LA
- Posts 289
- Votes 31
I have a great commercial loan product for your prospective buyers, @James Wise.
Conventional bank rates while focusing on the cash flow of the property and not credit score. Would be a great offer in conjunction with the listing.
Post: 3-Unit Toledo, OH Turnkey for $59K - $12K Annual Return
- Specialist
- Kenner, LA
- Posts 289
- Votes 31
Property Information
KEY FEATURES: 4 bedrooms | 3 bath | 2,474 sq. ft. Wow!!! 3 units bringing in over $12,000 per year! Unit #1 : $375.00 Unit #2 : $375.00 Unit #3 : $435.00- Six (6) Month Rental Agreement!!
- Six (6) Month Maintenance Agreement!!
- First Year of Property Management Free!!
Rent: $1,185.00
Monthly Property Tax: $87.84
Monthly Insurance: $65.42
Monthly Net: $1,031.74
Cap Rate: 20%
Net Annual Income: $12,380.88
Post: Toledo, OH Turnkey for $39K - 20% ROI
- Specialist
- Kenner, LA
- Posts 289
- Votes 31
Property Information
KEY FEATURES: 2 bedrooms | 1 full bath | 758 sq. ft. Single family cash cow located right down the street from the University of Toledo.
- Six (6) Month Rental Agreement!!
- Six (6) Month Maintenance Agreement!!
- First Year of Property Management Free!!
Rent: $750.00
Monthly Property Tax: $85.00
Monthly Insurance: $27.33
Monthly Net: $637.67 Cap Rate: 20%
Net Annual Income: $7,652.04
Address 1006 Broer Ave.
Toledo, OH 43607
Type Single Family Home
Bedrooms 2
Bathrooms 1.00
Sq. Ft. 758
Post: RATES STARTING IN THE 4's FOR BORROWERS W/CREDIT ISSUES
- Specialist
- Kenner, LA
- Posts 289
- Votes 31
Don't go hard money until you check with me first. May be able to lend when other banks won't. Income-producing properties such as multi-family units, mixed-use, student housing, mobile home parks, etc.
Also, if you have a hard money loan on these property types, this is a great product to refi into.
- Up to 75% LTV- Nationwide platform
- 5, 7, and 10 year fixed terms
- Loan amounts from $300,000 - $10MM
Feel free to contact me by any means below.
Regards,
Copelon J. Kirklin
[email protected]
Skype: Copelon
225-304-2634
Post: Looking for 2-4 Unit Multi-Family Opportunities - Kansas City and others
- Specialist
- Kenner, LA
- Posts 289
- Votes 31
Would you be interested in a 3-Unit in Toledo, OH? I can send over the details if so.
Post: Conventional financing with short credit history
- Specialist
- Kenner, LA
- Posts 289
- Votes 31
Gotcha. Now I see where the difficulty lies. The current value of the property would make for a low loan amount. It's hard to get loans from banks for these low amounts. At that point, the low interest rates are gone. Your next option would be private money, which as you already know, is more expensive.
Post: RATES STARTING IN THE 4's FOR BORROWERS W/CREDIT ISSUES
- Specialist
- Kenner, LA
- Posts 289
- Votes 31
Originally posted by @Jim B.:
Would you be able to help with a bulk sale of student housing/rental properties in Illinois?
Are you looking to purchase these? And have they been cash flowing previously or is this the strategy once they're purchased?
Post: RATES STARTING IN THE 4's FOR BORROWERS W/CREDIT ISSUES
- Specialist
- Kenner, LA
- Posts 289
- Votes 31
Originally posted by @Daniel Tucker:
How about loan to purchase and rehab? Discounted apartment complex .
Loan for $600,000 covers purchase price, rehab cost and reserves.
Based on proforma 10 cap ARV would be $1,444,000. Thats a loan($600,000) of 42% ARV.
Of course all contingent on due diligence being thoroughly done.
However, I can arrange a private money loan for this and you can refi out into the loan product in question.
Post: Conventional financing with short credit history
- Specialist
- Kenner, LA
- Posts 289
- Votes 31
I have a couple questions...
- What type of property is it?
- What's the value?
- Is it being leased at the moment?
- What's the current rate and balance on the loan?