All Forum Posts by: Michael Kalisch
Michael Kalisch has started 3 posts and replied 30 times.
Post: How New Western Acquisitions Made Me Lose my Life Savings ($70k)
- Investor
- Airmont, NY
- Posts 30
- Votes 7
In this day and age. With all the information out there, how does this still happen?
I guess there still aren't enough podcasts, forums, books.
Post: Share your 20/20 Hindsight - what would you do differently day 1
- Investor
- Airmont, NY
- Posts 30
- Votes 7
wouldhave started educating myself on the subject a few years earlier.
Post: NJ bank rehab loan on investment prop
- Investor
- Airmont, NY
- Posts 30
- Votes 7
your best bet is a hard money company.
I have worked with 'fund that flip'
You can also try 'assat based lending' they are a local nj hard money company
Post: Looking for wholsaler or reo broker in newark nj
- Investor
- Airmont, NY
- Posts 30
- Votes 7
I am looking for a wholsaler or reo broker for 3-4 unit buildings in newark nj can be a full rehab.
Post: Looking for wholsaler, reo broker in newark nj
- Investor
- Airmont, NY
- Posts 30
- Votes 7
Originally posted by @Sean Richway:
@Michael Kalisch Send me your email address and I will send you some properties I have currently.
Sent you a pm, thanks.
Post: Looking for wholsaler, reo broker in newark nj
- Investor
- Airmont, NY
- Posts 30
- Votes 7
Looking for 2-4 family properties in newark nj could be full reahb.
Post: What cap rate do banks use in multi family appraisal?
- Investor
- Airmont, NY
- Posts 30
- Votes 7
Originally posted by @Charles Kennedy:
As a bank we look at market transactions to determine an appropriate cap rate. We utilize appraisals and co-star to pull this data, but I'd bet some local commercial brokers could help you out. Just make sure the properties are somewhat similar and the transactions have occurred within a reasonable time frame (less than a year maybe).
I've never heard of Airmont, NY (no offense) so if I had to guess it'd be like 9%?? Just a ballpark figure.
Airmont is 30 min from mahattan and its 99% single family houses, and the avrage cap rates are way less the 9% more like 4-6%
The property that im asking about is in hudson county, northern nj.
Post: What cap rate do banks use in multi family appraisal?
- Investor
- Airmont, NY
- Posts 30
- Votes 7
Originally posted by @Sam Shueh:
LTV, DTI for the mortgage. 85% of proven rent not going market actual rent.
Thanks for replying.
If you dont mind explaing how is that calculated?
The monthly mortgage p&i payment vs actual rent?
Post: What cap rate do banks use in multi family appraisal?
- Investor
- Airmont, NY
- Posts 30
- Votes 7
Originally posted by @Todd Dexheimer:
As @Anthony Dooley mentioned it depends on the market and property. If you are in a B area with a B condition property the will appraise it at the market for other like kind properties. Have the realtor pull the comps to determine cap, ask a property manager, run a CoStar report.
Thanks for replying.
CoStar looks like is a paid service. What are they charging, and what services do they provide?
Post: What cap rate do banks use in multi family appraisal?
- Investor
- Airmont, NY
- Posts 30
- Votes 7
Im analyzing a 6 family deal in NJ and trying to figure out the value after filling up the units and getting market rent.
After all repairs and At market rent the cap rate will be at 8%
So what is the the cap rate that banks use to determine the value of the property?