All Forum Posts by: Marco G.

@Kuriakos Mellos

This is a very local question. I have hook ups and advertise them but offer no machines. Some places its standard to have a fridge others it’s not. I don’t provide fridges either, generally. But I have thrown one in when trying to lease in the winter, for example, to try to minimize vacancy.

@Greg R.

Try another lender. I’ve had good luck with online lenders that are licensed in all states.

@Bassel Haddad

No substitute for reading them. Why do you want to pay someone else to read them for you? Presumably they will then write something about them that you will also have to read. They should be in plain English.

You want the minutes from last few years’ meetings as well. Those can be interesting.

And enlightening.

Gotta read. No substitute.

@Jonny Mcknight

Why do you think the agent listed it at $2M if the comps are in the $3.8 to $4M range?

@Joshua Sun

Generally 20%/4%. Keep your money if it’s a larger loan. If it’s a smaller loan and 5% additional down is a few thousand I’d probably do that. If you’re talking about another $30+ down I’d go with the higher rate. You decide where you draw that line.

@Erik Barajas

Get a few quotes and compare them. Coverage differences can make a big difference in the premium and therefore lowest premium may not provide comparable coverage.

Possibility = policy.

@Tre Reaume

Here’s what most people do: Get a 1-4 unit residential loan, or 10 if they’ll give them to you. Unless doing 5+ unit buildings you can get a residential loan even as an investment property. And get an umbrella and/or commercial excess liability possibility.

@Danny Harper

This sounds like it can work if you’re correct about the numbers. It’s unclear how you determined your rents, renovation costs, or post renovation value. I would be as certain as you can be about those numbers before reaching a decision.

@Ray Brown wall paper removal is labor and therefore cost intensive.