All Forum Posts by: Felipe Soto

Originally posted by @JR Rivas:

Kenley Stringer, rent with integrity. 

Thanks!

Hello ALL,

Does anyone know or can recommend a multi family property management co in Tallahassee, FL?

Originally posted by @Tarik Turner:

sounds like a broker attempting to ensure they get paid

Correct

@Mary - Yes it is MM's mortgage broker (if that makes sense) because as stated above, he charges 1% since he says he doesn't get anything from the MM sale even though he has an MM email. Lender origination fees are 0.25% - .50% depending on the option you pick. Also this 1% comes with an "exclusive agreement" they want you to sign before they start the financing. I haven't sign because I am also shopping it, but what I dislike is the exclusive agreement because they are asking for 1% whether you use them or not.

Thanks for the feed back @ RussellBrazil. Its their mortgage broker fee. He says he doesn't get anything from the sale. Just this fee.

marcus and millichap

Hi ALL,

Thoughts on this. MM has an exclusive engagement agreement where 1% of total sale price is asked whenever this agreement is signed regardless if you use their recommendations for financing or you choose to shop the lending with another commercial lender? This still doesn’t take into account origination fees from the loan.

I

Hi ALL,

Does anyone know a reputable company that can do a full due diligence physical inspection for a 15 unit apartment? I have a few, but I'm looking for a reputable one?

Hi Paul, thanks for sharing that with me. That's what I've been thinking about the entire time while searching for MF and little by little I'm seeing that there are many pros by switching strategy from MF to MHP. If I may ask you, what were those five major value add objectives that took the park from the original sell value to the next you mentioned above? What a home-run.

Thanks again,

Felipe

Brendan, thanks again for your insight. I appreciate it. I'll def start looking on those sites and continue to attack the material. One last question for now.

I understand lending from MF vs MHP can be different. Or at least that's what I heard. 20% - 30% down is typical in MF. What type of lending terms have you seen with MHP and who would be some lenders? I understand some commercial lenders stay away from MHP lending.

Thanks,

Felipe