All Forum Posts by: David T.

@Tony H. Move on to the next applicant.

@Brian Hernandez 1st, you have to build up more reserve before jumping into a multi family property. 2nd, with the property being out of state, you’ll have to have a lot more contingency fund to cover the PM and premium maintenance costs.

@Abdul Azeez If you can afford the $11K to fix it, fix before you sell. You’ll get the $11K back most of the time.

If you can’t afford the $11K, sell it immediately.

@Schneur Sanowicz If something sounds too good to be true, it probably is. Good luck.

Lease term longer than 1 or 2 years will not benefit the landlord.  Tenants who want to leave will leave no matter the length of the lease.  

We have a group of 3 friends (including me) and are looking to buy a 4-unit multi-family investment property in California.  The property is valued at $900,000.  Does it make sense to have all 3 names on the loan application?  If all 3 of us are applying for the loan together, is there any drawback of doing so?  I would appreciate your reply on this.  Thanks in advance.

Thank you all for the responses.

@Account Closed I think the last picture you shared makes perfect sense.  Thanks for sharing!

@Account Closed  Good point.  Mine has a garbage disposal.  Perhaps that reduces the possibility of the TEE getting clogged.

@Pat L. and @Filipe Pereira - Thank you for your input.