All Forum Posts by: Jonathan M.

Hey everyone,

I am buying a 6 unit property under an LLC, when I write up leases do I sign them all under my LLC name? Also do I need to start separate bank accounts under my LLC name and keep everything separate from my personal name? Any advice going forward? new to commercial real estate and owning a business.

Thank You!

Hello BP community,

I will be buying an apartment complex this year around 6-12 units. Where can I find solid Florida annual lease agreements, renewals  and notice of rental rise . Also property management software or something I am able to keep track of rent and documents. 

Thank you everyone!

Currently looking a building that is 7000 srqft, zoned mixed use. Want to construct 6 units inside. What is the best loan for purchase of the building and construction of units combined? Lowest interest rate and money down!

Currently looking a building that is 7000 srqft, zoned mixed use. Want to construct 6 units inside. What is the best loan for purchase of the building and construction of units combined? Lowest interest rate and money down!

Afternoon friends,

I am looking to make jump, right now I am looking for ways to get involved with large multifamily investments. I'm tired of looking at small scale 4-plexs, 6-plexs and 8-plexs that will only net me small profits after debt coverage ratio and expenses. Iv'e realized that I have to have a very healthy net worth to get commercial debt. Total net worth needs to be up to the total amount of the loan with liquidity of up to one year of principal and interest payments.

My question is how do I make a leap big enough to be semi retired. Right now I am able to finance up too 500k with a 800+ credit score but that only gets me small scale multifamily and will take me yearsss to scale up enough to get to a larger multifamily level and get to a semiretired status. Help!

Where should I look for commercial multifamily, I look everyday on MLS and LoopNet. Help!

@Theodor Morgan

I bought my first duplex when I was 22, I’d definitely recommend it.

I did conventional financing but FHA financing will work with 3.5 percent down. Make sure you look your requirements for FHA, credit score, income for the past two years and liquidity.

Rented out one side and lived in the other and lived for free for the past 2 years and banked everything I made from my normal job. Rehabbed my side , while my tenants paid my mortgage down renting the other side. Just sold it and closed December 1st 2018 made 90k.

Buy something that needs some work but nothing major in a decent C+/B+ neighborhood that is growing. Good luck!

Hello everyone,

I'm trying to find ways to finance my apartment complex, I love the Fannie Mae multifamily loan product. However. I don't meet the net worth requirement or liquidity. Are there ways for me to meet those requirements without having a partnership? 

Hey Everyone,

I'm looking to trade up and own my own apartment complex. I've never invested in commercial multifamily so I am looking for more advice and mentoring about the loan process and managing my rentals. I already own a duplex and know the basics of being a landlord but I want to educate myself on being a Pro and making it a streamlined business. I want to maximize my rental income potential. 

I'm looking for commercial multifamily properties in Bradenton/Sarasota Florida other than what I can see on the MLS and Loopnet.

5-10 units concrete  block construction and not in a flood zone, 800k max.  C and B neighborhood. With room to improve the rent and add equity as well.

Thank you!

Thank you for the information everyone!