All Forum Posts by: Joseph Stamper
Joseph Stamper has started 3 posts and replied 6 times.
Post: SBA 504 for small 6 unit apartment
- Posts 7
- Votes 4
Hi all I'm new to real estate investing and have been looking in the midwest at mfh properties. However i am seeing some small apartment complexes that have caught my eye but would be commercial.
On a $250k apartment complex of 6 units, how hard is it to geta sba 504 loan with 10% down?
I don't plan on bringing partners in for that. I did create an llc.
Thanks!!!
Post: Investing in multifamily out of state - best options under 100k?
- Posts 7
- Votes 4
Originally posted by @Dave Poeppelmeier:
@Joseph Stamper you can find duplex properties here in Toledo under $100k in decent neighborhoods, but the multifamily market is super competitive here like in most areas. Like anything else, what are your investment goals? Regardless of the price range, is your Net Operating Income and Rate of Return going to be worth it? Duplexes usually go under contract in a couple days if they're in good condition and reasonably priced, so you need to have your Pre-approval ready to go. Like @Spencer Abeyta and @Aubrey Tatarowicz said, you will need a Realtor that knows Investement Properties and a good Property Manager wherever you go. Let me know if you want to talk about Toledo more and what's available.
sent you a message!
Post: Investing in multifamily out of state - best options under 100k?
- Posts 7
- Votes 4
@Aubrey Tatarowicz ideally looking for passive income with long term tenants. This way over time I can forecast updates to be put into place.
We have full time jobs so as long as we maintain profit to grow further, we are happy
I formed and LLC to start my rental investing process and was curious how taxes would work.
If i leave 75 percent of income in the LLC, do my personal taxes get taxed on the 25 percent?
Does the LLC get taxed on its own income?
Post: Investing in multifamily out of state - best options under 100k?
- Posts 7
- Votes 4
@Spencer Abeyta thanks for that tip! It definitely doesnt need to be the nicest place but im lookin for ones that currently have long term tenants
Post: Investing in multifamily out of state - best options under 100k?
- Posts 7
- Votes 4
Hey all,
We were saving up to buy our first house here in cali, but we are going to wait due to the crazy market.
As a result we started an LLC and looking at investinf in multi family out of state. I have been looking in the midwest and have found lots of duplexes with long term renters that I am interested in.
Are there areas that you recommend where you are seeing solid rentas with properties under 100k?
We intend to put down 25% on each property and are so excited to start this journey!