All Forum Posts by: Pavlos Kasselouris
Pavlos Kasselouris has started 37 posts and replied 197 times.
Post: Calulating ROI

- Project Engineer
- Miami Beach, FL
- Posts 203
- Votes 64
What can be more simpler than Net Profit/Total Investment=ROI?
As for the future it depends what assumptions you make about the Net Profit.
Post: Looking for a Lender to Refi in Florida

- Project Engineer
- Miami Beach, FL
- Posts 203
- Votes 64
Originally posted by @Copelon Kirklin:
Would you entertain 6-6.5%?
Thank you for reaching out! I have been conditionally approved with Quicken loans with a 4.875%, and waiting for the appraisal right now. I wont get 70% which I hoped, but something closer to 62%, but it will give me what I need to go after my next acquisition. Maybe when my credit goes even more up, I will be able to have a second line of credit later on.
If I'm not able to secure financing for the next one do you lend for new acquisitions and up to what LTV? I have run the numbers with a 6% and it works for me.
Post: Dwell Financing Reviews

- Project Engineer
- Miami Beach, FL
- Posts 203
- Votes 64
Has anyone had any experience with this lender? Are their rates truly competitive? They are supposed a B2R division, which advertises in here.
I like the fact that you get the loans on the name of an LLC and your subject property is the one getting qualified basically. Of course there is a minimum credit score for the applicant but it sound to me too good to be true. I'm afraid that if I apply they will offer something like a 8% rate...
Post: Dwell Finance Reviews

- Project Engineer
- Miami Beach, FL
- Posts 203
- Votes 64
Has anyone had any experience with this lender? Are their rates truly competitive? They are supposed a B2R division, which advertises in here.
I like the fact that you get the loans on the name of an LLC and your subject property is the one getting qualified basically. Of course there is a minimum credit score for the applicant but it sound to me too good to be true. I'm afraid that if I apply they will offer something like a 8% rate...
Post: Strategy, next steps

- Project Engineer
- Miami Beach, FL
- Posts 203
- Votes 64
@Chad Zaback Why don't you use so automated call service for this purpose? Even hire a VA based on India? I dont have any experience with this but I see that its very popular technik.
Post: Steps towards obtaining a commercial loan

- Project Engineer
- Miami Beach, FL
- Posts 203
- Votes 64
Originally posted by @Jeff Kehl:
I find that commercial bankers are most interested in financing a good solid deal so if you find one they will likely be interested in talking to you regardless of other factors.
But I've found that the two other most important things that help when meeting a new commercial banker are 1) A personal financial statement which is essentially a personal balance sheet listing all of your Assets and Liabilities and totaling to your net worth. 2) Profit/Loss statements on your existing properties for the last couple years to show your track record. Even if it's just a single family home or two it shows some rental experience.
I would also give them copies of your tax returns for the last 2 years.
Wrap this in a package with an executive summary of you and the property opportunity and you're ready to meet with them.
Good advise Jeff! Thank you!
Is there a way to prequalify before I find the deal in order to be taken seriously by the seller? How will I be able to go after a deal without financing in place? And lastly is there some kind of formula that connects net worth, income, and size of the deal?
Post: Package Deal 10 * SFR in Memphis, Tennessee

- Project Engineer
- Miami Beach, FL
- Posts 203
- Votes 64
@Srikanth Patnam I'm not a guru, but funding should have been the number one before you even started direct marketing. What was your goal? If you cant fund the whole deal by yourself I would bring another player on the table. The fact that you are talking about SFHs makes it easy to find other investors which can buy independently especially if its a good deal.
Paperwork wise, you will need contracts in place. Thats where you will probably need someone that knows what hes doing. Someone like a real estate attorney. I wouldnt suggest a real estate agent because at the end of the day their liability is limited compared to a RE attorney and you already found the properties. I dont know what are exactly the procedure in Tennessee but here in Florida you will probably use a title agency which would handle the closing, title search, title insurance etc. After you will have to start your due diligence, which includes inspections, insurance research, rent rolls, lease agreements of the tenants in place, their background, proof that they pay in time, rental market analysis, comps etc...
I hope I gave you a good idea of what you will have to do generally.
Post: Steps towards obtaining a commercial loan

- Project Engineer
- Miami Beach, FL
- Posts 203
- Votes 64
@Joel Owens I understand what you are saying and I feel it makes sense for the bigger apartment buildings. 40-200 units.
Right now in my mind are buildings which cost 500K-1M. 25 units and less. I feel that even if I came up with 30% and a property with a 9 cap, I wont be able to find financing. Hence my question about what can I do today to get this kind of financing in the future.
Working on getting my first conventional loan I saw, and discussed with loan originators about the qualifications of the applicant. That made me rethink the way for example I do my taxes. I saw that they treated my income properties exactly as they appeared on the schedule C.
It made me think what is the income of all these investors that are given 10 loans! From from I saw they must make over 120K a year just to meet the debt to income ratio?
Post: Steps towards obtaining a commercial loan

- Project Engineer
- Miami Beach, FL
- Posts 203
- Votes 64
What are the steps for e relative new investor for obtaining commercial loan in the future? What can I do today in order to set good foundations to be able to go after an apartment building in the future, and how long will it take?
Post: Is this a good loan deal??

- Project Engineer
- Miami Beach, FL
- Posts 203
- Votes 64
Good news at last! I found that I was conditionally approved with the initial application I had made...not 70% LTV I had hoped, but something like 62%. It enough for me to do what I have in mind, so I'll take it and go for the next deal!