All Forum Posts by: Jefferey Eutsay
Jefferey Eutsay has started 3 posts and replied 5 times.
Quote from @Melanie P.:
Quote from @Jefferey Eutsay:
I'm considering making an offer on a 36-unit multi-family property. I have a potential private lender, but I need to determine if this is a viable investment opportunity and explore the best financing options
You posted this same thing three times - in two it was a 36 unit and in the third a 32 unit.
Do you have any other details about the transaction or perhaps wish to share your initial analysis so the volunteers here can poke holes in it or tell you why you're right?
Based on the tenor of your posts, I've got to ask - do you have your primary residence squared away? Because that is the first investment anyone investing in real estate should make.
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My apologies. 32 units. I will potentially move into one of the units for some time
Purchase Price: $1.98M
Assumable Existing Financing: $1.18M @ 3.48% ($5,563/month) Seller Carry: $300k @ 3.5% (5-Year Term)Down Payment: $525k (Buyer to Bring)Buyer pays all closing.
Quote from @Greg Scott:
If you don't know how to evaluate whether or not it is a viable investment, why would you make an offer?
Please, please, PLEASE learn how to underwrite an apartment before taking the next step. If you don't know what you are doing there is a greater than 50% chance you are making a big mistake. With no experience, you probably would never be presented with a good deal. You are likely seeing only the dogs.
Thank you so you have any suggestions on resources about underwriting?
I'm considering making an offer on a 36-unit multi-family property. I have a potential private lender, but I need to determine if this is a viable investment opportunity and explore the best financing options
I'm considering making an offer on a 36-unit multi-family property. I have a potential private lender, but I need to determine if this is a viable investment opportunity and explore the best financing options
Post: First time investor looking for advice
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I'm considering making an offer on a 36-unit multi-family property. I have a potential private lender, but I need to determine if this is a viable investment opportunity and explore the best financing options