All Forum Posts by: Jennie W.

Ok thanks so much!

We are considering purchasing an office space. We have multi family units - so this is new for us. A local commercial real estate agent charges 6% of the total 36 month lease. This is a brand new unit. Does this seem normal?

Thanks!!

@Clint Harris thanks for your comments. My husband and I are interested in doing the same thing.

I'm in Waco.  I've been advised by several to stay away from Baylor student rentals.  There are quite a few not rented.  We've looked but haven't found anything that really works.  The property taxes here are very high.  We rent out a former residence.  It doesn't meet the 1% rule but it is paid for- so it cash flows.  At some point we plan to sell it and use it for a down payment for a small apartment.  We love Waco but invest out of state right now.  We would love to invest here-so we are still looking.

@Tab Teehee great job!! It looks amazing!!

@Johny Omaga

Looks so nice! I hope it sells for a great price. What’s the name/color of the flooring? Did u paint the stair steps?

We invest in KCMO too!

@Schuyler Goldfarb

I did the same thing for 3 years. It’s been great! Renting out my former higher end residence. It’s a good way to learn. We saved our cash flow while we learned- then used that as the down payment on a researched rental.

At some point we will sell and have the down payment for an apartment complex. We r learning about that right now.

@Jeff Petsche have you looked in investing in a syndication? Might be a good way to start and learn.

Good Luck!!

@Drew Lied

Hi! We have a 6 plex out of state and about to close on a local 8 unit.

Both were easy loans. Out of state to us but local bank to the property- they wanted a write up about our plans. Nothing major- it was a couple of paragraphs. They wanted to know who was managing. We also had to have reserves. Our realtor recommended the bank we used.

Local bank to us and our 8 unit- was really easy. We did a write up about our plans. Terms- 15% down payment, 5% interest for 7 years. It’s a 20 year loan. Loan fees of $1,100. And a revolving line of credit to do updates.

Good luck!!

@Ben Leybovich do you have a second home/unit on your property?