All Forum Posts by: Account Closed

Hi BP members,

I was faced with the problem of searching the property that meets my requirements. I'm looking for RE that shows cap rate >7.5% in good areas of a few MSA. Property is under contract whenever I am ready to purchase it.

Where do I look for RE? - loopnet, zillow, hotpads...

I'm tired to be late. I was contacted a few brokers who set up a property search for me. Those searches show property which are available for everybody, there are no "pocket listings". Can anybody advise a good broker who has access to the "pocket listings" nationwide?

I'll be gratefull for any info.

Hi,

There are a lot of sewage issues around Jacksonville. Should be RE property in Almeda Street avoided in that context?

Thank you for any information.

@Jeff B. Could you please let me know what state do you have your 6-plex? How old is it?

I thank you guys for taking time out to answer my question.

Hi,

I used to think an average ratio of gross expenses to gross income for multifamily rental property should be at least 50%. It is about OH properties which are 40-50 years old. But what's interesting, financial statements of the same buildings in AZ show a smaller ratio (about 40%). Is there any logical explanation? Could relatively warm climate decrease average expenses? Or it’s just a story?

Thanks. 

@Carlos Flores do you mind hard money lenders or government sponsored entities? I’ve been contacted to hard money lenders. They propose extremely high percent that makes investment meaningless.

Hi BP members,

I’m looking for a tremendous experienced mortgage broker who’s worked with entities which don’t have US citizens as principals. I applied for non-recourse commercial mortgage loan to a few lenders. All of them refused to work with an entity which has as principal only foreign company. Do you know if there are any opportunities to get mortgage loan without personal guarantees (the crave-out guaranty can be an option)? Does anybody know lenders who give mortgage with no personal guarantees?

I’ll be very thankful to you for any information.

Thank you Scott Steffek and Josh Kundrat a lot for your help.

Hi,

I’ve found a very nice offer to buy a house close to Michigan Avenue, East Chicago, Indiana. Anybody knows if it’s nice place for living? I was trying to find more information but it looks like people prefer to live in Hummond or Munster. I’m afraid of buying something what will be difficult to sell. I’ll be thankful to you for any information.

Hi,

Do a favor by advising a professional attorney who can help to close purchase of multifamily property up to 70 units. Property is located in Jacksonville, FL.

Thanks