All Forum Posts by: Jorge Abreu

Post: 🪙Overview and Comparison Commercial Loans

Posted June 04, 2024 12:53

Rental Property Investor
Dallas, TX
Posts 379
Votes 316

Here is a brief look at what is on offer out there:

➡️ Agency loans as mentioned, such as by Freddie Mac and Fannie Mae. They usually last for 5 to 10 years and allow you to borrow up to 65% of the property's value. These loans often have interest-only payment options, meaning you only pay the interest for the duration of the loan or a shorter period based on the market conditions. These loans are amortized over 30 to 35 years, and it is advisable to approach DUS lenders directly to avoid additional broker fees.

➡️ HUD loans have slightly better terms than agency loans but require a longer approval process of around 6 months. They are suitable for long-term holdings of at least 8 years and can also be used for new development projects.

➡️ Bridge loans serve as a temporary financing option to bridge the gap between agency or HUD loans. They are ideal when a property requires significant value-add improvements and substantial capital expenditure.

➡️ CMBS loans are securities backed by a bundle of commercial real estate loans. Investors receive repayments as borrowers make payments on these loans.

➡️ Banks offer commercial loans with terms that may not be as favorable as agency loans. However, they can serve as a good alternative to bridge loans or construction loans. While the leverage may be lower, banks typically offer fixed-rate options instead of adjustable rates.

Remember, each property tour is an opportunity to gather valuable insights and make informed decisions. As I mentioned earlier, touring properties during both day and night is significant. Drive around the property and its surrounding area to get a comprehensive understanding of the location. Engage with local officers to gather insights about the neighborhood, and don't hesitate to ask them specific questions about the property.

When touring, pay attention to tonality, body language, and hidden cues from sellers. Document the tour with photos and videos for detailed analysis later. Utilize checklists and capex estimators to capture essential information and assess the property's condition accurately.

Take advantage of property tours to gather valuable insights and make informed decisions. Each tour is an opportunity to build rapport with sellers and brokers. Don't rush through the process; take the time to gather the information you need to make a successful investment.

In summary, exploring HUD loans can provide you with competitive rates and favorable terms for your real estate investments. However, keep in mind the longer processing time and the need for seller cooperation during the acquisition process.

✨In the words of one of my mentors, “The more questions you ask, the more information you gather that's not available through numbers alone. Be a detective during your property tours and make smarter decisions.”🙌

1 Vote

Date and time

Thursday, June 27 · 11:30am - 1:30pm CDT

Location

High Fives

1804 McMillan Avenue Dallas, TX 75206Show map

About this event

2 hours

Who Should Attend:

Multifamily Investors: Gain fresh perspectives and learn advanced strategies from fellow investors.

Real Estate Professionals: Enhance your industry knowledge and discover new opportunities.

Aspiring Investors: Learn the ropes from experienced investors and get your questions answered.

Property Managers: Network with industry peers and stay updated on the latest trends.

Industry Enthusiasts: Connect with like-minded individuals and share your passion for multifamily real estate.

Why Attend:

Participating in the Elevate Multifamily Investing Meetup in Dallas offers numerous benefits:

Market Insights: Stay informed about the latest market trends, investment strategies, and industry developments. Gain valuable knowledge that can help you make informed investment decisions.

Exclusive Deals: Access unique investment opportunities and exclusive deals that are available only to meetup attendees. Discover new avenues for expanding your portfolio.

Learning from Experts: Benefit from the wisdom and experience of seasoned investors. Learn from their successes and challenges to enhance your own investment strategies.

Inspiration and Motivation: Surround yourself with a supportive community that inspires and motivates you. Stay driven and focused on your investment goals.

Personal Growth: Engage in meaningful discussions that foster personal and professional growth. Develop your skills and confidence as a multifamily investor.

Supportive Community: Become part of a community that offers support, advice, and encouragement. Building a network of like-minded individuals can significantly enhance your investment journey.

Sponsors

Luke Stockton

JNT Construction

[email protected]

(469)-660-8020/ (972)-885-5053

0 Votes

Post: 👀 Mistakes to Avoid During Property Tours

Posted May 29, 2024 09:56

Rental Property Investor
Dallas, TX
Posts 379
Votes 316

As an aspiring real estate investor, avoiding common mistakes is key to your success. I’ve been there, and I want to share insights that can save you from costly errors.

During property tours, ask smart and relevant questions. Don’t waste time on questions you already have answers to. Instead, focus on gathering new information that will help you make informed decisions.

Pay close attention to the seller's body language and tone. These non-verbal cues can reveal a lot about their intentions and the property itself. It’s like being a detective, picking up on details that numbers alone don’t show.

Take photos and videos during your property tours. These visual records are essential for later analysis and comparison. Capture the property, the surrounding area, and any notable features. I provide my clients with a checklist of essential photos to take, which ensures nothing important is missed.

Use checklists and capex estimators to stay organized and thorough. A checklist helps you cover all necessary details, while a capex estimator helps you evaluate potential repair and maintenance costs. These tools streamline your analysis and improve your due diligence.

Finally, build relationships with sellers, property managers, and agents. Establishing rapport during property tours can lead to valuable insights and hidden opportunities. Sometimes, the most honest answers come from people who have no stake in whether you buy the property or not.

Good luck! 🙌

0 Votes

Classifieds

Post: Elevate Income Fund Webinar - Tomorrow 🗓️ May 30, 2024 12:00 PM CST

Click here to claim your free seat for the webinar now!

Posted May 29, 2024 09:45

Rental Property Investor
Dallas, TX
Posts 379
Votes 316

Did you grab your free seat for tomorrow’s webinar yet?

Don’t miss this chance to see how passive investments in multifamily real estate could potentially help you unlock 14.5% yearly returns and recurring monthly income.

This exclusive opportunity is only open to accredited investors like you.

You've worked hard to get to where you are now… that’s why you understand that a dollar saved is a dollar earned.

You’ve probably also been invested long enough to have felt some of the recent market meltdowns suck all of the momentum out of your plans!

That’s why our Passive Income fund focuses heavily on two things… saving you money and offering stability in an unpredictable economy.

Join the free webinar to see how we can help you
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There’s just one catch…

We want to keep this webinar personal, informative and give you the chance to have all your questions answered live.

So there are limited seats available and most of them were taken right after we sent out our last email (and the rest will probably be gone soon).

Register for the LIVE Webinar

Don’t miss this opportunity to see how you diversify and grow your portfolio with passive real estate investments.

Jorge, Eric and Brian

0 Votes

Post: Learning from a Walkaway Experience 🧐

Posted May 28, 2024 14:24

Rental Property Investor
Dallas, TX
Posts 379
Votes 316

@Michael McKinney Absolutely! Feel free to reach out if you have any questions or if there's anything I can do to help you achieve your goals.

0 Votes

✨ We are waiting for you at HighFives! ✨

➡️Address: High Fives - 1804 McMillan Avenue, Dallas, TX 75206

➡️When: Thursday, May 23rd

➡️What time: 11:30 AM to 1:30 PM

Who Should Attend:

Multifamily Investors | Real Estate Professionals | Aspiring Investors | Property Managers | Industry Enthusiasts etc

Why Attend:

Participating in the Elevate Multifamily Investing Meetup in Dallas provides excellent chances for networking, gaining market insights, accessing exclusive deals, and learning from seasoned investors. It's an ideal avenue to stay inspired, foster personal growth, and become part of a supportive investing community.

Our Guest Speaker: Vince Porter

Vince I. Porter, CPA, an alumnus of Texas State University with a degree in Accounting and Finance, quickly rose to President and CEO of Porter & Company, CPAs after joining in 2005, following his tenure as a real estate tax senior with RSM McGladrey. Licensed as a CPA in Texas, Vince is actively involved in both the American Institute of Certified Public Accountants and the Texas Society of Certified Public Accountants. Recognized as one of CPA Practice Advisor's Top 40 CPAs Under 40 in 2018, Vince and his firm specialize in serving high net worth entrepreneurs, accredited investors, and multifamily syndication groups. Porter & Company CPAs offers strategic tax planning, tax compliance, and managed accounting services to its clients. Beyond his professional endeavors, Vince is passionate about community involvement, serving on the board of directors for JDRF. He also enjoys outdoor activities like hunting and cycling with his wife Heather, their five children, and a diverse collection of pets.

0 Votes

Classifieds

Post: 💰Monthly passive income - Elevate's New Multifamily Fund - 14.5% Return

Posted May 21, 2024 11:57

Rental Property Investor
Dallas, TX
Posts 379
Votes 316

At a time when most investors are struggling to find meaningful returns and where inflation is silently chipping away at your savings…

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If you have questions on these concepts, let's connect. It could be a game-changer for your portfolio. Book a call HERE 📞

Jorge, Eric and Mina

0 Votes

Post: Learning from a Walkaway Experience 🧐

Posted May 21, 2024 11:46

Rental Property Investor
Dallas, TX
Posts 379
Votes 316

Let me tell you a story about a property tour that taught me some important lessons. I was a newcomer to the real estate industry and was still establishing my footing. 👀

We stumbled on a property being sold directly by the owner, and guess what? We actually agreed on a price before we even stepped through the door! Normally, I would emphasize the significance of seeing a property before making any decisions, but this particular circumstance appeared promising... at first.

You see, we had both vacant and down units ready for our visit. It seemed like a property tour combined with some due diligence. But when we began to ask questions and explore the site, something seemed odd. The seller's responses were suspicious, and we became concerned. But the real surprise came when I noticed a damaged door on the side of the property, far away from where they were driving us. My curiosity got the best of me, so I started to look into it. And, guess what? The entire first floor had been gutted due to water damage, and they were doing everything they could to keep it covered! Can you believe it?

That situation caused me to lose trust in the seller. What else could they be hiding if they were concealing something so important? It was a huge red flag, so we immediately changed our offer.

Trust is essential in real estate, and if you don't trust the seller, walk away.

This anecdote taught me significant lessons. First, it emphasized the significance of complete due diligence. Rushing into a deal without thorough investigation might have severe effects. Second, it emphasized the importance of asking the correct questions and paying attention to subtle indications during property visits. Sometimes what you witness, rather than what the seller tells you, shows the reality.

If there is one thing I've learnt, it's that you should never rush through a property tour. Take your time, take photos and videos of everything, and use the chance to connect with the seller or broker. And do not stop there! Again, talk to the locals—cops, hotel personnel, and restaurant employees—to obtain the inside scoop about the neighborhood.

Real estate investing necessitates rigorous attention to detail, which is why property tours are essential for acquiring critical information. Don't settle for shallow observations; instead, delve further, ask meaningful questions, and follow your intuition. Building relationships and rapport during property tours can also result in unforeseen rewards, such as sellers leaving equity in the transaction because of the trust and connection formed.

Remember, every property tour is an opportunity to collect information that is not available on paper. Be a detective, be interested, and never underestimate the value of diligent due diligence. It's better to walk away from a purchase that doesn't meet your criteria than to cope with hidden problems later.🙌

2 Votes