All Forum Posts by: James Likis

Here’s the scenario: we are preparing to make an offer of seller financing with 0% down but the property is on market and listed with a realtor. 

I am curious how folks have navigated the realtor fees when pursuing 0% or low percent down on seller financing. I know the seller is responsible for the realtor fees, but seems something worth noting in how the deal is structured. Does anyone have any tips on structuring the deal to help account for this?

Thank you in advance!

Fully rooting for you! 

@Eric Puffenberger I'd also love to hear how this shift to MTRs goes for you and learn from your experience! Have you been able to connect with anyone else doing the same shift in the multifamily space? Like @Allen Duan, we have the same long term goal. 

Hi all,

My wife and I are looking to grow into the commercial multifamily space, but do not yet have experience with commercial lending. We are thinking we'd go after a 5-10 unit building and rent a couple units out as MTRs to increase the NOI.

What we're wondering is how MTRs would impact the refinancing process, if at all? Would we need to show a full years worth of NOI as part of a refinance without 100% of units having a long term lease in place? Or is a years worth of NOI required regardless when refinancing a commercial loan?

Thank you in advance for helping us learn and better prepare to enter this space!

@Dave Foster thank you for the breakdown, that makes complete sense. Appreciate you educating me on these nuances!

@Lee Ripma Thank you for sharing such a thoughtful and nuanced post! We saw a similar, more dated list before we began investing in KC and appreciate seeing your more recent breakdown. 

Hi all,

Is it possible to do a 1031 exchange of a personally owned property and move it into a property owned by an LLC as part of a partnership? In reading other 1031 questions regarding LLCs, I see some drawbacks but am curious if this is possible. Is one option to complete the 1031 outside of the LLC and then convert the property over to part of the LLC?

This question is stemming from trying to find greater balance within the partnership in terms of capital committed. My wife and I have a lot of equity in one property but are less liquid than our partner, so curious on our options here. 

Thank you in advance for the insights!