All Forum Posts by: Kushaal Malde

@Frank Alfano agency debt is very competitive (75-80 ltv, non-recourse, fixed-rate etc); you can syndicate and raise the equity portion needed from friends and family, provided you can market and lead the project. Generally need to show 90% occupancy over past 90 days. 

On the other hand, if you are looking to do a more heavy value-add with renovation you may look for bridge or private money options. Generally these will have a shorter maturity and higher costs. 

I'd love to connect with you! I work as a commercial mortgage broker and can source the most appropriate debt depending on the deal. 

Hey @Sebastian Romeo Harris welcome to the forums. I'm a fellow bear from class of 2017. I'm a Commercial Mortgage broker and would love to connect. Have you thought about your investment style-- buy and hold, fix and flip, househacking, passive investing, STR, something in between? This may change over time.

Participating in the forums and using the search to find specific questions or topics would be helpful as you start your investor journey. Also, look to attend meetups local to you and connect with other investors!

@Dinesh Nair Congrats on the close! 

My brokerage sends a weekly rate sheet for various debt sources on commercial properties. I'd be happy to include you on our list as well so you could such receive weekly snapshots.

This is what the weekly snapshot looks like:

@Paul M. great question. My brokerage sends a weekly rate sheet for typical debt sources for multifamily and commercial assets (bank, agency, cmbs). I'd be happy to add you to it as well so you could receive weekly snapshots. 

And what happens after the 5, 7 or 10 years depends on the lender but typically it would be a balloon payment. So you would need to refinance, payoff or sell before the maturity date. 

This is what the weekly snapshot looks like:

Also live in San Mateo county and would be interested in a meet up in the Peninsula!

@Daniel Muscarella congrats on the saving mindset. 

I would take advantage of I-bonds, offered by treasury direct and limited to $10k per calendar year per TIN. These gov bonds are tied to inflation and the rates change only 2x per year (recalculated in May/November), so the current ~9.6% annualized is guaranteed through November. 

@Bradley Beran we have used Edward F. Kasputis and Kasputis Law most recently for a 14 unit apartment in Lorain. Was charged $170 for filing plus $420. Tenant was out within 3-4 weeks. Unable to post contact info so feel free to message me for contact info ie phone/email/address.

@Huy Duc Tran with up to 20% down, you will have a variety of financing options.

Per Fannie mae guidelines (https://selling-guide.fanniema...), only 75% of the rental income would be used. If it is not rented (or no lease agreement is signed), they will use form 1025 to determine the rents. In DTI calculations, this income will be added to your monthly income, not subtracted from your PITIA liabilities (very important distinction).

The county conforming loan limits in LAC and OC are $1,243,050 for duplexes, so as long as the loan amount is $1 below then Fannie and Freddie can offer competitive financing between 15-20% down. If you want to stretch your leverage to only putting 3.5%-15% down (depending on DTI) you can also consider FHA products.

Welcome to BP @Oddy Kham! 

My two tips: 1) take advantage of the search function to find threads in the forum for any questions you have (before posting/creating a new thread) and 2) regarding investment property-- clearly define what your goals are on the front end so you don't get distracted when evaluating deals (and your goals very well may change or adapt!). 

I'm also here in CA and would be happy to be a resource for you for anything loan or investment related or if you have a specific deal you want a 2nd opinion on etc! Don't hesitate to reach out. 

Hey @Samuel Bob great suggestions already provided by @Peter Mckernan. I got a FTHB client into a 3bed/2bath condo house-hack in Irvine, CA in December. His interest rate was pretty stellar but he also paid $670k with 10% down. With your budget and 20% down, the monthly payments could be similar and work out just as well for you. At the same time, you could explore lower down options so you can compare and contrast to help you make the most informed decision based on what your goals are. I'd be happy to help you explore any scenarios or if you want a 2nd opinion on anything you're looking at, just shoot me a message!