All Forum Posts by: Kimberly H.

I need a RE attorney for a property in Greene County asap. Any referrals much appreciated. TY!

@Chase McArthur I may take you up on that invitation. I am just starting out and interested in acquiring a MF property. I am an attorney so I am used to reading and analysis and I've done a ton of it, but it took me a week's worth of reading to be able to decipher all of the line items on the pro forma excel sheets I've been getting as I explore listings. Moreover, I know enough to "know what I don't know" - which is the deeper dive analysis that is needed beyond the back of the envelope since I have learned here that the pro forma is the seller trying to put the absolute best numbers they can out there, which may not line up with reality.

@Pat G. I had never heard of this Holy Trinity before. Do you consider those "musts" or goals for a property?

Thanks @Joel Owens and @Russell Brazil. 

This helped.

I'm wondering how things work with commercial/MTF and the splitting of brokerage commissions, as I'm getting the sense from some other posts that it differs from residential (seller pays commission, which seller's broker and buyer's broker split). 

Some posts I am seeing say that commercial/MTF works the same way, while other posts seems to indicate that the seller pays only the seller broker and if the buyer is bringing a buyer broker into the deal, the buyer must pay his/her broker separately.

Insights? 

Thanks. Yes, will be financing. Def looking for a stable asset.

I'm just starting out; I have a background in real estate and have been lurking around BP and reading for a while, but I'm now ready to start seriously looking. My basic requirement is simply a property that I can buy and hold long term that generates five figure positive cash flow/month. Budget up to 1M. Probably will self manage although would hire super. 

Hi, I'm looking to purchase an apartment building in KC. Probably something around 20-30 units. Looking for any insight on this (spouse is from KC so knows area well, although we don't live there right now) and to connect with brokers who specialize in this type of investment property. Thanks!

My favorite is hedge funds, though that’s hypothetical since the ones with the best consistent returns of 15%+ plus are pretty much for the “one percent of the one percent” and institutional investors. My second favorite is small business investment. And third favorite is Vanguard low cost funds; I spent a lot of time researching how to pick stocks and concluded that I would do no better on my own (and probably worse!). I would never do Bitcoin or similar - just too risky.

For my first REI, I am considering an off-market mixed-use building in a great/solid area. Lower level is a bar (has been operating for decades) and upper level is a three-bedroom occupied rental apartment. The seller is asking 500K for the building, and since the seller is also the operator of the bar, this asking price includes the sale of that business. The cash flow overall on this property seems great, mostly due to the bar although certainly I would ask for P&Ls to verify. Anyway, if all checks out, I would want to put 10% down on a conventional 30-year fixed rate loan. I have good financials -- I am employed, have excellent credit, have 90%+ equity in my primary residence, and have a significant chunk of money in the stock market. However, I have no idea whether a bank would require significantly more down on a mixed-use property like this. [Note: to answer the question in advance as to why I want to put down 10% if I have the assets to put down 20%, the answer is that I would not need to sell any stock to put 10% down, but I would have to do so in order to put down 20% and would rather not sell]. Thx in advance for any insight.