All Forum Posts by: Hassan O.

How old is the property?

Getting a loan for an apartment complex of 5 or more units, may require a minimum of 20%-30% down, 12 months of mortgage payments in savings at closing, and a 680 credit score or greater.

• Based on your projected future income, if your DSCR is in the 141% range and excluding reserves and other costs, it may look like this:
• .
• NOI $ 115,204
  Ann. Debt Service $81,705 (= noi/dscr)
  Ann. Distribution $ 33,499
  .
  APR 4.5%
  Months 360
  DSCR % 141%
  Mortgage $1,343,782
  LTV % 75%
• Loan basis per Cashflow $1,791,710.
• .
• .

Everything depends on your personal situation as well as the property at the time of closing, but probably 4.1-5.5% APR on one of these:

• FHA – Up to 85%, 35 Year Fixed, 35 Year Amortization
• Fannie Mae - Up to 80%, 30 Year Fixed, 30 Year Amortization

Thanks, but I’m seeking something a bit more advanced..

Happy holidays and festivus + merry Christmas to all!

I'm trying to set my travel schedule for the upcoming year and need to find some good events to attend for networking and education in the multifamily world. Does anyone have a list of great events to attend for networking and advanced education/networking over the 1st half or all of 2022?

Thanks in advance

Happy holidays and merry Christmas to all!

I'm trying to tie down the schedule for the upcoming year and need some good events to attend for networking in the multifamily world. Does anyone have a list of great events to attend for networking and advanced education over the 1st half or all of 2022?

Thanks in advance

Thanks, @Rick Martin.. for content what do you mean?

I’ve watched a ton of videos from folks that built up a nice multi family portfolio while holding down a six figure day job or that had tens of thousands to start investing with or that went from flipping houses straight into multifamily. But I’ve yet to hear from someone that truly started with nothing but hustle and found success in MF.  

Are there any success stories out there that you’re willing to share? Perhaps you began by first educating yourself on the business and then started finding deals for other operators Or you found a mentor that brought you into a deal on the GP team based on your activities towards finding and closing a deal. Please share your story. How you started and where it led you

I'm trying to evaluate a multifamily opportunity where an assumption is possible for acquisition with later refi and later resale. Does anyone have an example spreadsheet of how to make this work that they're wiling to share? I'm using the Kenney model

What’s the current zoning?

The most important thing is having someone to talk to that understands where you currently are in the business and that is willing to share some of their knowledge with you. An experienced person of course, but willing to listen. Most of the folks that you will come across will try to vet you first financially for fit as an investor or try to get you into a paid mentor program that you may or may not be able to stick with. 

With all that said, before you spend money on a mentor take some time to reach out to folks in the business with a goal in mind. Eventually you’ll find someone willing to help and listen

I'm down with forming a group.