All Forum Posts by: Reggie Maggard

OH that embarrassing...the pp is 155k

Heres the deal...

4 plex, rents or 1740/m

Expenses are 40 for electric, 35 for trash, mowing/snow- 150 for a total of 225

PITI - 850

Vacancy/PM/Capex/Maintenance-556

total expense =1631

this seems to be one of the better deals that I've seen.

Thanks in advance.

Hey is anybody getting conventional financing, on large multifamily, with less than 25% down? Because thats like 28% with closing cost.

I will tell you one thing, they really low ball to maintain the low risk loan thing. My appraisal was 100k less than I expected, therefore my cash was limited.

How long until debt cleaned up? Can you sell cars or real estate to clear it up sooner? Extra jobs?

My answer is get debt free fast then only do debt that is low risk and makes sense.

Attorney

Im not sure what that is to be honest.

Im looking at an 11 unit and I don't see how you make money for the first 5 years or so. Capex, vacancy, maintenance/repair, and property management eat you up. Plus, I think vacancy rates are higher sometimes.

I am trying to acquire a small apartment building (11 units) and I need owner financing to make it work. How do I assure them I am a man of my word and that there will not be any hitches in this deal?

@Chris Feltus

Does anybody ever complain about a picture of their house being on the marketing envelope? My wife is telling me that will freak people out.