All Forum Posts by: Account Closed

@Andrew Johnson Thank you very much for taking your time to read and reply my discussion! Wow that is actually the property I was giving the example of. I did notice it was 1 bed apartment complex with less than 500sqft per unit and I could probably say that those apartments are more complicated to rent.  

I guess my problem has been analyzing deals just because I have never invested nor done a flip or something related. So I am still not sure how the numbers work but they way you described it, made perfect sense for me. If I was to acquire apartment complex, would you recommend me to look in the Austin market or somewhere else (just because Austin is very very hot right now)

Thank you Andrew!! 

@Greg Downey I could probably look into partnering up with somebody to come up with the 25% and then finance the rest of it. Thank you so much for all the information provided! Love that phrase too!!

@Cole Johnson Thank you very much it is a great point of view too! I have found an apartment complex with that value in the Austin TX east area and here in Austin rent prices are going very high! There are so many elements I need to consider before I even make a move with this specific property. 

@Greg Downey thank you very much for taking your time to read and reply to my discussion! Great examples and I would probably be in the scenario #1 because I do not have partners and no experience in the field, however, I do have good credit!

Here is an example; let just say I found this apartment complex with 22 units with a value of $1,995,000 would you recommend to partner up with somebody so we can come up with either a 10% or 20% and then finance the rest? Or should I get 10% or 20% through private lending and then finance the rest?

Thank you! 

Hello BiggerPockets community! I have been listening to Grant Cardone for the last 6 months and he truly inspired me to be ambitious! He talks about how he always prefers to buy more than 16 doors rather than 1 door. Has anybody acquire an apartment complex? If so what is the best way to finance it and how do you start with such a big project like this?

Thank you!

Hello BiggerPockets community!

At this point my brother and I have decided to take the next step into the fixer upper field! We found a property through a great Real Estate Agent, we have a quote from a GC but now we are trying to get the money! We have considered these hard money lenders; Streamline Funding, Stallion Funding, Corridor Funding, and CCG Capital. Has anybody ever done deals with this companies? Our second option would be a loan through a Credit Union Bank and 203k Loan. However, this process may take longer than hard money lenders. 

Any suggestions about how to finance the property?

Thank you in advance!

Hello @Aaron Gordy thank you very much for your feedback! Everything makes totally sense the only thing that I am a little confused in calculating the ARV. Don't I need to have a SOW and a quote from my GC in order for us to see what the ARV is going to look like at the end of the process? We do have a basic idea of what the houses are selling for in that specific area with the same rooms and sqft.

Hello @Chris Seveney thank you very much for your feedback. I am a little concern about the property because I talked to a neighbor and she mentioned that somebody lived in the house since 2005 then they sold it in 2017. After that, somebody lived there for a month and then moved out. I am not really sure if the house has big issues and that was the reason why the last couple moved out. 

We do not really want to over rehab and we were planning on do carpet, cabinets, tile, etc. Nothing too expensive. However, if the GC says that needs major rehab, then we will not proceed with the property.

@Kuba F. Thank you very much for your feedback. I would totally take a look at J Scotts book. I have read The Book on Flipping Homes and it has very usefull content!

@Atif F Shahnawaz Thank you very much for sharing that with me! The best way to start fixer uppers is by social networking. If you know the right people you can totally have a great team and that is going to make everything easier!!

Hello BiggerPockets community!

My brother and I have finally decided to take action and look at properties around our area (South Austin, TX.) We found a property that we plan to rehab and we think it has good potential for a high ARV. We have not looked at the interior of the house but we found some issues on the exterior. However, we are not sure if they will cost us a lot to fix. For the experienced flippers out there, would you guys recommend hiring a GC or home inspector to help us assess the future costs? Or how do you guys first go about calculating the numbers?

We hope that you guys can help us as we are eager to obtain our first deal! We appreciate the support.

@Travis Sperr Thank you very much for your reply. I am considering doing fixer uppers so it could potentially benefit me.

@Jeff Rabinowitz Thank you very much. I truly appreciate your help and information!