All Forum Posts by: Rami Khaldi

Hey Mike,

As long as these #s are all spot on down to every variable expense, this looks like a great deal, clearly!

My only question is, how did you finance the deal and get it done with 7% down? Its not a house hack since its out of state. Guessing its some type of private investor or seller financing deal, in which case, great find. 21% cap rate in year 1 is insane! Do you mind sharing what state/town this is? Curious, seems like a great area.

WOW! This is awesome, Tony. Im not well versed in commercial RE. Frankly, im still a novice residential REI investor, working on project #1 as we speak. Few questions that I had out of curiosity.

1) What does the 5 year term represent? Google tells me its a balloon payment. If so, what % of the loan outstanding would it be since you have a 25 AM schedule?

1a) How would you pay that balloon payment? Is it typically personal capital or is there another vehicle here that a CRE investor would use to cover balloon payments?

2) What parts of the terms did you push back on (if any) after the Credit Union presented its initial term sheet to you?

3) Do commercial loans typically cover the rehab?

4) What was the biggest point of contention between you and the seller that you had to negotiate and get done? Would be interested to hear this since you said 20 years' worth of attempts have taken place and no previous investor was successful in getting it done.

Congrats on the huge deal, especially doing it all on your own! Hope to reach these ranks within REI one day.

Hey Chris, thanks for the advice! Atlas is a great resource, my agent shared it with me back when i first mentioned getting into REI in the beginning of 2023. Completely agree, utilizing the MLS for multi family is brutal. I've previously connected with Western Union and was added to a list. Didn't find anything in those couple months that met my buy box. Ultimately, my current project was just a SFH, but it was a solid deal. Hoping I can learn about effective off market deal sourcing in 2024 so that i'm ready to go in on a deal in Q3, when i'm in the financial position for a MF brrrr.

Hey Sunny, thats not far! I'm open to greater Philly. Wherever the best opportunities are. I've heard Philly Suburbs typically have better cap rates compared to the city. My current project, which will most likely be a flip, is in West Philly.

Hey guys, would love to connect with people who have had success in identifying multi family properties through various means (MLS, connections, software) and learning more about your processes/systems.

Im a new investor. I started in 2023 and didn’t close on my first investment property until July, currently in the late stages of wrapping up this single family project. I’ve been debating holding it as LTR/flipping. In 2024 I hope to do a few more flips and then get into BRRRRs in better markets where I currently can’t enter.

Bonus if you live around Philly and have invested in the area! But would love to connect with you regardless. 

Hey there. I have to say, BP has been great in meeting people that I’ve worked with and people I plan to work with in the near future.

I’m looking to keep growing my network and would like to meet local investors in the Philly market while my first ever deal is underway. I’ve had down time, so I want to maximize it before I ramp up for the next deal. Anyone want to meet up? Breakfast and coffee is on me!

Interesting take, Corey. Appreciate the honesty and difference in opinion you have here. Your advice and guidance in itself will save them a ton because its wealth in knowledge. Im in my early days with only 1 investment property under my belt (still being rehabbed, haven't made a dollar on it yet), but what you'll provide them in knowledge will be worth ten fold than $. You'll teach them best practices, consistency, discipline.

I agree. It would be challenging for me, if in a position of wealth, to not support a little financially. But the discipline to have them figured it out is the tenacity that any entrepreneur must have, whether it's in RE or any other business venture. That urge to figure to figure things out and deal with the financial hurdles that you and many investors including me had to overcome is what will set them up for long term success, like you said. Creating their own wealth. Not needing yours.

Hey Marek! I have a great friend and agent who helped me find my primary home and my first investment property as well. Has experience working with investors. DM me if interested!

Hi All, i recently acquired a brrrr property that will need lots of cosmetic work, no foundational issues. I got a great ARV appraisal before the rehab started. Around $20K north of the high end my agent and contractor expected me to get. Im being told that another ARV will take place post-rehab.

Can anyone share their experiences with me on post rehab appraisals and if they typically align to the ARV appraisal as well? Im nervous that we got lucky with the first appraisal and the second one will come back much lower. Makes it tough to forecast what i'll be able to pull out. If i have the same appraisal #, i'll be through the moon.