All Forum Posts by: Matt Gouge

Contact a local mortgage broker who you can apply with. Have them explain how much you qualify for, why, and share scenarios with you from different price points.

Good luck!

Hey @Eric Ippolito! As a mortgage broker I am able to get some pretty sweet terms on the financing. So my PITI is about $1900/mo. Prop management is $296/mo (8%). If I factor in vacancy rate of 5% and repairs of $200-$300/mo I'm likely $800-$1000 in net income. Still pretty good COC return for roughly $75k out of pocket. I need to get more dialed and actually create a proForma so I have my exact numbers but I've been a busy bee with a booming mortgage business

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Marysville.

Purchase price: $330,000
Cash invested: $73,000

My first MULTI-FAMILY deal! (4plex) I have a few SFRs but this was my first multi. Pretty pumped about this one, monthly rents of $3700 and all in with a great management company this thing should be cash flowing $1200-$1500/mo

What made you interested in investing in this type of deal?

An agent I work with (I'm in mortgage) brought me the deal. I passed on it at first but then after coming back to check in I decided to do it

How did you find this deal and how did you negotiate it?

Agent brought it off market

How did you finance this deal?

Non QM loan based on property cash flow.

How did you add value to the deal?

Great property manager already flipped 2 units and has the problem tenants getting in line or else they are at risk of losing section 8 voucher.

What was the outcome?

HOLD... Like Warren Buffett. Never sell

Lessons learned? Challenges?

Learned that its not as hard as I thought. Already in contract on the next one.

Zach, please contact me tomorrow regarding this property. 916-529-7600.

How much would this place rent for?

interested. please send info to [email protected]

more info on terms of financing to [email protected]

pending @NicholasVarner ?

send info to [email protected]

Awesome story. If you want something go get it. Period