All Forum Posts by: Jon Blackburn

Hi Sean,

Great idea on the invite! I'm a couple steps behind you, but looking for deal #2 as we speak. I'd love to connect...will shoot you a PM.

For the purposes of financing a commercial multi family property in August, how would a bank typically calculate current NOI? Would they look at trailing 12 months? Or take 2019 since it's the most current full year? Something else?

@Sasha Tetera I’m by no means an expert, as I’m only now in contract on my first property...but I have been doing a good deal of rental analysis for a awhile as I’ve evaluated properties. I’ve noticed that Zillow is sometimes spot on, but sometimes wildly off (in both directions).

The best approach I’ve found so far is to look to at least two sources. If both are similar in rent, I assume it’s pretty close. If they’re wildly disparate, I’ll add in a third source and take the average (e.g. I’ll look at BP, Zillow, and Craigslist or Facebook).

@Remington Lyman I'd greatly appreciate it!

I got a seller of a mfh on the phone last night, and asked if he’d be interested in seller financing if I offered higher on the property. He shared that he’d previously done two seller financing deals (Yes!), but that one went poorly and ended up costing him time and money in legal proceedings. And because of that experience, he’ll never do that again (No!).

How would you overcome that objection? Perhaps there’s some way to structure these deals that would give the seller more protections? Or should I just move on to the next deal?

Hi Folks,

Does anyone have a good, REI-friendly accountant they can recommend? I'm just starting out, in contract on my first property...so I don't necessarily need all the bells and whistles. But do need to meet briefly with someone very soon.

Thanks!

@Zeke Liston 

5 units in Bellefontaine area.

Does anyone in central Ohio have an insurance broker they enjoy working with? Hopeful to be closing on my first multi-family property in a couple weeks, and need some guidance and quotes.

Does anyone in central Ohio have an insurance broker they enjoy working with? Hopeful to be closing on my first multi-family property in a couple weeks, and need some guidance and quotes.

@Sasha Tetera thanks for the feedback! Yes, if you click on Tools, the Rent Estimator is there.