All Forum Posts by: Manik Sewak

I’m wanting to invest. It will Ben my first multi family acquisition so I’m trying to build a good foundation of knowledge before taking the plunge. @Account Closed

BTW: $872k (ARV) @ 75% LTV, 4.875% at 30 year term = $5,129 = $233/unit.

@Dan H.

I think he was planning to only cash out what he put in, which was about 250k 

250k, 4.875% at 30 year term = 1,323 = $60/ unit

Also, I think your math is off but I could be mistaken..

Thanks @Chris Coleman! I'll grab it tomorrow!

Lets say you have a million bucks and looking for a Multi Family to invest in. Where do you start? Do you consider many cities and look for the best purchase, or focus on specific area that you know well and settle for the best deal there. When you find one you like, what steps do you take from there? What gets you to the point of actually getting on a flight to see it in person? looking for some rules/guidelines here. Thanks!

If your credit score is good you could probably get approved for a commercial loan and leverage equity from your paid off home as a down payment. Another option is to see if you could put a deposit towards the 8 unit so it buys you some time to complete and sell your other mobile home.

If you are rehabbing it and not occupying until refinancing then there shouldn’t be an issue in my opinion. Not exactly sure though.

I’m looking to buy my first large multi of 10-20 units or so and have been looking at different cities because I’m unsure of where I’d like to purchase my first deal. I’m looking for the best starter deal possible. When looking at a new city, what is your best approach at connecting with commercial brokers and finding off market properties.

Congratulations on your accomplishment! veni vidi vici

Hey Kevin, I’ve followed their email lists for a while, sometimes signing an Nda to get further info on a property, then never buying. Some properties they send out look decent. Which ones did you lock? Message me. Let’s talk!

And I’ve actually have been looking at this 33 unit multi near Dallas Texas. (Sulphur Springs, Tx is 90 minutes NE of Dallas).

It’s of off market for 1.1 million

Gross is 196k

Net is 129k

The broker company says there are only 4 vacancies.

The city population is 16k and very slowly going up

The county population is 36k and going up even faster..

What do you think of this as a MF deal?