All Forum Posts by: Paul Sweetman
Paul Sweetman has started 11 posts and replied 45 times.
Post: LLCs, Financing, and Deeds
- Rental Property Investor
- Lebanon, OH
- Posts 45
- Votes 47
A few of my local banks on the personal side want deeds in my personal name but on the commercial side they actually prefer LLC's and as of my last loan on the personal side went you could charge me higher % and it would be worth it. I will never try and finance on the personal side again. And frankly it's a business I'm building so that's where I should be anyway...
Post: Applying for multiple loans at the same time
- Rental Property Investor
- Lebanon, OH
- Posts 45
- Votes 47
We have been blessed with acquiring multiple properties in the last 5 months (paid cash for them) . We are implementing the "BRRR" philosophy. in addition I'm in the process of financing a 4 family (on the personal banking side) better terms and conditions.
When I asked my loan officer if I could start the process to refinance the first of 4 completed rehabs He said We can't start the process till we've closed this loan. If I go to another lender will I be jeopardizing the loan process on the 4 family? Really can't I do multiple loans at the same time? Do I have the same situation on the commercial lending side of a lender?
Post: First time investor, house hacking, FHA loan, analysis check
- Rental Property Investor
- Lebanon, OH
- Posts 45
- Votes 47
Post: How to value a 30-unit
- Rental Property Investor
- Lebanon, OH
- Posts 45
- Votes 47
How much cash flow does it generate? $50.9 K per year
I've always been told I make my money when I buy a property and I know when this occurs I make good cash flow.
As I'm trying to enter the world of larger multi-families I am being told my offers are too low. I lost a deal where my number said 1.3 mil was my top price the property sold for about 2 mil to an out of state investor. How can I be .7 mil off in my numbers?
I look at cash flow, differed maintenance, any and all monthly outgoing money I can put my hands on and develop a number. Should I be factoring in tax depreciation?
I feel I'm on the right course but I keep hitting road blocks.
Post: How to value a 30-unit
- Rental Property Investor
- Lebanon, OH
- Posts 45
- Votes 47
I've been looking into a 30-unit complex. My present method of cost analysis says i should buy it for $500k, but when i compare it to other deals I've seen being made, it shows I should buy it for $750k. What factors should i look into when putting together my purchase price (i.e., cash flow, equity, price per door, etc.)? Here's my current analysis. Thanks in advance for any insights or help!