All Forum Posts by: Kyle Lauriano

@Todd Dexheimer thanks for the insight, I will look into these options.

Hi @Todd Dexheimer, thanks for the input, but similar to the previous statement, my question falls after the initial conventional loan has been acquired and you purchase the property. Once the renovation costs are realized, what are some ways to finance this? Appreciate the time,

@Christopher Hand Thanks for the reply, I will be utilizing a conventional loan for this MFA, but my question is after the down payment (E.g., renovation costs). What are some methods to finance a renovation of the property? Is it just utilizing your own funds for this process, or are there secondary loans that are best for these? Thanks,

Hi All,

My name is Kyle, and I will be relocating near a C-level area, where I will be starting to review multi-family apartments (4 units or less). I would like to understand what are some of the best ways to finance a multi-family property once the down payment is fulfilled; thus the extra cost associated with the property is needed to renovate for optimal rental status. Reason being, I have decent savings, but would not want to utilize every penny on one property.

Some background, I am a current renter with no current real estate deals, I will be acquiring my real estate license shortly. 

Any input is welcomed. I would be much interested in connecting with fellow investors to mentor from and work within the tri-state area.

Thank you for your time,

@Mike Dymski

Thanks for your response, and I appreciate the feedback. I will definitely take a look into those podcasts. Thanks! 

@Teddy Smith

Thanks for your insight and explanation. I do understand where you are coming from. I was thinking of equal capital/labor requirements from both myself and partner, yet my biggest obstacle is understanding the proper way to have 3rd party investors develop interest in our development projects, while allowing us to be prime holder on the property itself. 

My experience is limited in understanding how to allow 3rd party investors to help with initial costs of capital while allowing both myself and my partner the ability to hold the complex investment for a rent and hold situation, and allow the investors to be paid in full and maintain no part of the complex; providing a promissory note option, perhaps? 

Thanks,

Kyle

@Account Closed

Thanks for your response, at first I thought the same, but we are looking into 12+ ideally. So, it could provide with more opportunities down the line. But you are correct on having the split the profits, expenses, duties, etc. Thanks for the advice!

@Thomas Franklin

Thanks for your response, I will send you a PM. Thanks.

@Frank Trigoso

Thanks for your response, and thank you for your suggestion. I will take a look into the cap rate and units to develop scalability. Thanks.

@Steve Kontos

Thanks for the response, I will reach out to you once we have more specific questions to better utilize your time. Thanks!