All Forum Posts by: Michael Henry

@Jason Bott do you know anyone? 

My partner @Eran Linker and I will be in St. Louis 10/20 - 10/21 and are looking to network with some real estate agents (realtor), real estate investors, and contractors.  We would like to meet up with anyone who has availability and views some properties, rehabs, or just talk real estate over a beer; we are buying. 

Anytime you can get a conventional loan that would be the best option, especially under these market conditions. There is other low down payment options other than FHA, that many local banks and credit unions offer. If you want to go with FHA to maximize your buying power be prepared to pay a premium. Finding the right deals is the hardest part.

Sounds like a good plan!

@Marcus Auerbach I think the other things that are driving demand are mom and pop out of state investors, internet-based companies like roofstock.com, and hudge funds like SFR3.com (which is on the smaller size). I think it is very foreseeable that these companies own or facilitate purchasing of a large percent of the US housing stock. 

What do you think about government-backed housing programs like after WWII to build cheap affordable housing?  

@Aaron Chasse is not a good deal you are just excited about the ideal Seller financing a deal. 

In terms of raising rents, this needs to be done carefully especially if you don't want the tenant to move out in the short term.  I would talk to the tenants about increasing the rents once the lease is up and let them know that you will be making improvements. 

You make money on the buy, not the sell (refinance). If the numbers work it doesn't matter if it is a duplex or a multi-family. 

@Kevin Hunter There are pros and cons of investing in any asset class. The important due diligence I think you need to do is make sure the association is managing the money properly and capital expenditures are being budgeted for. If not, the condo fee will increase more rapidly and obviously miss up your proforma. Other than that, they can be good investments because of the potential regularly upkeep of the exterior. You don't have to worry about snow removal and lawn maintenance with might enable you to forgo property management which will increase your ROI. This is all based on the quilty is the condo community and the association.

Lastly, sometimes the association has a cap on how many units can be rented out. Make sure you check that part of the condo documents. 

@William Stewart @Jason Bott is the best in the business, reach out to him. 

@Tim Coakley I might have a contact for you. Why are you doing a commercial loan instead of a residential loan?