All Forum Posts by: David Walkotten

We own 24 units in Kalamazoo Michigan and need to replace the mail box system with something USPS approves. Quote was $2852.

Who has another option or has found the best solution that is cost effective?

Thanks in advance!

Curious to know you guys’ principle pay down for the year. How does that relate to the amount and type of debt you have?

I calculated my net worth gain from my amortization schedules - multiplied by my equity percentage on each note.

Kalamazoo tax rate is around 6.2-6.4%, GR is around 5.2-5.4% of taxable. Suburbs being typically lower

@John Pertson sure! If the numbers work. Or bring in a 25% equity partner for 20% dollar investment into the price of the deal and everyone wins.

@Joseph Firmin I recommend Sam Schwass with Arbor Lending in NY. Expert with Fannie/Freddie loans and getting them done.

@Patrick Gibson 5 units is treated commercial so the bank is going to look at the property from an income vs expense perspective. Raise those rents and then see what the bank will lend you. Typically no “seasoning” but might cap lending based on purchase price.

@Kimberly Teft all-in (including placement/renewal fees) typically 10.5-12% of collected income.

@Leah Roberts those are pretty good LC terms. Willing to look at the numbers for you.

@Leah Roberts those are pretty good LC terms. Willing to look at the numbers for you.

@Chris Murdien we’ve done non refundable earnest deposit before. It worked out ok but definitely put some leverage in their court. It got us the deal and got us a discount on the deal in the end.