All Forum Posts by: Nick A.

Hello everyone,

I wanted to revive this thread hoping to get some solid recommendations on PM's in Scottsdale.  I'm just not satisfied with the current PM for my property, which I've had for a few months now.   Any leads would be greatly appreciated. 

Thanks!

@Shawn Johnson Thanks for the recommendations! Have you had any first hand experience with any of them?

Hi Everyone,

I'm looking to buy a 20 unit apartment in the Phoenix-Scottsdale area. Can anyone recommend a good PM?

Thanks!

@Todd Dexheimer  Thanks for the words of wisdom! I'm going to stay patient. What's the best way to stay current on states that are good for investing?

@Juan Vargas I agree, it seems that CA is close to, or at the top. I just need to be more informed about investing out of state to get out of my comfort zone. It's such a novel concept for me. 

@Ron Flatt What are some of the markets with an 8+ cap?

@Gino Barbaro You nailed it on the head! I'm not too far from being very unhappy with the 9-5. Thanks for the book suggestion!

@Bryan Zuetel Yes, I'm open to a 2-4 unit in northern Pasadena or Altadena. You're right, some parts have actually become more gentrified over the past few years. It's been a slow process, but you can definitely notice the changes.

@Gino Barbaro 

Admittedly, that would be a scary jump for me. I have a decent 9-5 where I'm living now. Also, I'm not sure if I have enough capital, at this point, to be a full time investor. If I decided to quit or got laid off, then I might give it more thought.

@Todd Dexheimer @Gino Barbaro Thank you both for your input. It's a challenge to be patient because I've been apartment living and would like to owner occupy a commercial multi-family, but it's tough sledding in my area where the market is hot. I definitely don't want to force the issue and overpay, but at the same time, I don't see any end to the appreciation. I may open up my options a bit and start looking at 4-plexes in my area.

@Stephen Cameron Thanks for the post! My agent drew up the numbers just to get a rough idea.

@Ola Dantis Thank you for the welcome! I've slowly understood how this doesn't make sense. The main issue and challenge for me is changing my mindset from an emotional to a strictly numbers standpoint. 

@Matt Lefebvre @James C. @Omar Khan ...thank you guys for sharing your insight! Being new to the game, this really helps. I'm looking for a place to live and, at the same time, invest in a commercial multi-family property. The appeal of this particular property for me is that it's in a location where I can see myself living long term and raise the rents over the next several years. I have to admit that it's more "Real Estate" and emotionally driven, but what would you suggest if you're looking to live in a specific location and invest in a multi-family property at the same time?

At the very least, it looks like I'll have to scale down on price range. Please keep thoughts and suggestions coming!

Thanks,

Nick

Hi everyone,

I originally posted this is in the General section, but this is a more suitable place...

I’m looking to purchase my first commercial property, a 7 unit apt, priced at $3.5M. My plan/strategy is to owner occupy, buy and hold.

I can put down up to $1M, but the biggest concerns with lenders is not being able to meet the 1.2 DSCR and debt yield requirements.

Here’s more information:

Loan Amount=$2.5M

NOI=~$159k

DSCR=~1.08 (assuming 4.25%, 30 yr amort)

Cap=4.54

Is partial seller financing a viable option? Let me know if more info is needed.

Thanks!

Nick