All Forum Posts by: Igor Avratiner

PFCU and Spring Garden Lending are good. Ukrainian Self Reliance Federal Credit Union also has a good rate/term program. Check out Anthony at Dominion Financial as well. Good luck! 

@Steve Babiak

PHA pays a utility allowance directly to the tenant monthly. Not all tenants receive a utility allowance, my understanding is that it’s based on income and whether they are responsible for utilities in the lease. I’m not familiar with an appliance allowance.

@Marc Possoff

That rate is the max they can pay for a 2 bedroom unit based on the location category it falls under. If you have not already gone through the landlord certification process you can use a 3rd party to complete the process in your behalf (realtor, PM, someone else with certification).

You can request that amount when you fill out the voucher but the rent determination comes after the inspection. They use rental comps, condition of the house, and tenants income to determine your rent. It depends on the area, but you can expect to get close to market rent +/- amenities your unit has (ceiling fans, fridge, washer/dryer, central air, etc).

@AP Horvath do you see yourself spending time involved with all of the details of RE investing ( finding deals, doing walkthroughs, negotiating with sellers, getting estimates, working with contractors, putting out adds and screening for tenants, dealing with property/ tenant issues, applying for loans, booking keeping, etc) ?

If yes, the margin of safety rule I use is - A deal that you can refinance and get 100% of what you put in (purchase + repair costs) and still cash flow every month likely has a strong margin of safety.

Other advice is take what the market gives you. For example I’m find it difficult to find properties in decent areas for a price that meets the margin of safety rule above. However I’ve been finding that even though these deals won’t cash flow they can work as flips.

If your answer is no to the first questions above, then maybe consider checking out syndications, turn key rentals, private lending to experienced investors, REITs, etc.

@Darren Crawford this will probably sound like a stupid question and I don’t know anything about this market.

Considering multi family is one of the hottest asset classes right now and properties are selling for double or more what they sold for 5-10 years ago...

Should there be any concern with buying a multi family property that only appreciated from 730k to 800k during the same time period?

If everything checks out it sounds you’d be buying this at a steep discount and the seller is highly motivated.

@Todd Powell

Sounds like this was a great investment, purchased at the right time and for the right price!

Thanks for sharing!

@Todd Powell

How do you feel about the investment in the 72 unit you mentioned? Good move or would you have done better using the funds to buy additional properties on your own?

Thanks for sharing your journey and hope you figure out next steps that work well for you and your family!

@Anton Ivanov Thanks for posting this! This is a very clever and creative strategy to find deals, plus you've clearly explained and made it an easy read! Maybe I missed this but how are you determining # of units and how many bed/bath each unit has in order to estimate market rents? I don't think that level of detail is available from the county tax assessor in the markets I am in, but I will verify.  

As I am thinking about trying this strategy I would need to estimate the total rent so that I could make an offer based on COC, IRR, Cap rate, or whatever I am using.