All Forum Posts by: Jared Christensen

Hey there, I am in Devils Lake. There isn’t anything really available for multifamily. A 3 plex, a duplex and a 4 plex were just posted by seller. They are not listed thru anywhere. What sizes are you looking for? Are you looking to purchase yourself or for an investor?

So looking into Hard Money loans, and they all says we can’t in ND. Anyone know why not? What laws are there against them? ND can have MCA loans so why not hard money?

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I am looking at purchasing a 18 unit building and Pulling collateral from another property to pay the down payment. Well my lender just messaged me and said with everything going on in the world I would need 35% down to purchase this building vs the traditional 20%. Are there other types of funding I could use to purchase this without so much down? Thanks 

Thanks guys I hope I can pull off the purchase of these additional 32 units. A lot of hurdles to jump as the sellers are a disgruntled family that one partner passed away so the kids Inherited the one partners half and there is already a signed purchase agreement with the 50% owner before I came to the table with an offer and the other 3 want to accept my offer but that is still only 50%... 

Ok here is the long story and any feedback that can help would be most appreciated. I was approached a couple weeks ago from a partner on 4 8 unit buildings. Long story short there use to be 2 owners and one passed away so now it is one guy owns 1/2 and the other 1/2 is owned by 3 (the deceased’s kids) well anyways it was never advertised for sale very well but they did get an offer to sell them for $775,000. The 1/2 owner signed a purchase agreement with the buyer but one of the children called me up and said hey do you want to buy these would you offer $800,000. I said I sure would. Now I am fighting with the 1/2 owners lawyer who is also his real estate agent to give me any information on the buildings. Can he sell the buildings without the other party signatures being 1/2 owner? Or will they need all 4?

Ohh wow well I guess if anything I’ll give it a shot for a while and if it gets to be too much we can hire a company or someone haha

How many units can you safely self manage? Currently I manage a 3 plex, a commercial building, and a commercial building with 2 apartments above it. I just recently got the opportunity to possibly buy 4 8 unit buildings that have very positive cash flow but my wife is a little nervous on self managing the units. We don’t struggle right now with self managing and I do all the repairs as I am a licensed contractor as well, are we nuts for doing this or would it be wise to hire a company and if so what is the average cost for a management company? Or do I quit my full time job and make managing these my full time job? Any suggestions or info would be greatly appreciated.

I have a tenant who I am trying to work with to get some back rent before I boot them out, I have a feeling they are moving and going to screw me anyways but in one of their pictures on Facebook of them selling a piece of furniture I see a chair from my storage room in the building in their apartment, can I enter and take my property back or do I need to call the police? Or what do I do in this situation... first time this has ever came up.

Does anyone in here use any crowdfunding websites or anything like FundRise ? I have been thinking of dabbling in it.