All Forum Posts by: Justin C.

 That is a very valid & helpful perspective.  Thank you.

 Thanks. I found that most of the results weren't really tailored to this kind of "commercial" 5+ unit space so wasn't sure if I was missing anything. 

Thanks Trevor, great idea.  Any tips on how to find whether this exists?  Have dug around but so far not encountered a specific small multifamily team. 

What is the best way to find brokers, vet them, and build relationships with them for small multifamily?  Looking in the 8-20 unit range in North Carolina.  Thank you!

Thanks Henry.  Do tenants who own their own homes typically carry insurance?  Sounds like it could be difficult to figure out the details of each tenant's coverage and get them to write in the park.  

How would you think about the risks of buying a park in a tornado prone area?  What about a 100 year or 500 year flood zone near a river? 

What does the worst case scenario look like for the park owner and how do you quantify this to get comfortable underwriting a deal?   What types of insurance are available for this and do you recommend purchasing them?  Thanks.

When looking at the location of a potential MHP deal, would you be comfortable with a small town of ~1000 people located 10-15 miles (~15 minute drive) outside of a larger city of ~50k+ people?  Especially if this could entail some infill.   

Do you typically look at population for the entire metro area or just within a 5 mile radius from the park? 

Any tips for how to be thinking about the location and what stats to research before making a decision whether to move forward on this deal?  Thank you.

Thank you all for your replies / votes. I may be in touch via PM. Good point to keep in mind that there is a tradeoff when selecting loan criteria and to have all the perfect criteria would probably be too expensive!  Hopefully it helps that we're seeing rates pull back a little bit here. 

Hi all -

Looking for recommendations for good DSCR lenders. Purpose would be for a cash out refi on SFH BRRRR post appraisal... high credit score... renovated & rented property... no docs and quick close DSCR loan. Ideal criteria, in order of importance

* no or minimum prepayment penalty (is 2-3 years "normal"?)

* low seasoning period (3 months ideal... anyone doing <6 these days?)

* no or minimum points

* 75% or greater LTV

* minimum rate of course... especially for the first few years

* will lend to LLC

Finally, are there any good options out there with a lower rate for the first 1/2/3 years... or IO... etc? Any other DSCR eligible products you recommend looking at right now, other than 30y fixed.

Thanks in advance for your suggestions!

I recently left my W2 and am looking to transition into REI full time. I have known for a while that this is my true passion and I am ready to dive in.

I am seeking:

A deal partner, mentor or someone who could take me on as an employee. The ideal person already has some experience and an existing process or pipeline, and can use help to expand, do more deals, transition their business, etc.

I can offer:

I am extremely motivated and hungry. I have 10 years of “high finance day job” experience including building up a new business within a major finance company. I’ve always been an entrepreneurial person with a strong appreciation for all the benefits of real estate. I am willing to apply capital and my full-time bandwidth towards this goal. 

I want to bring value to you:

My highest priority in a partnership or job is to bring value immediately in whatever ways I can. I can offer time, capital, persistence, finance knowledge, and passion for real estate. I will run through walls and do whatever it takes to learn the business and be successful. I have a natural inclination towards REI and will hit the ground running, but as I start out, think I would benefit from joining an existing structure.

My goals/interest:

I want to think big and transition into RE investing as my full time work/lifestyle. Particularly, I want to learn to recycle capital and scale up a value-add investing strategy. The BRRRR method and multi family/mobile home parks are the areas I am most interested in but I am flexible. I think learning from the right person is the most important part, which is why I am open minded about the particular niche at this stage.

If anyone is interested please DM me, I would love to chat. Thank you.