All Forum Posts by: Ruslan Kotelyanets

@Tj Hines that’s actually what I need to hear. I would rather have someone be up front and honest than be lied to. Thank you for the information!

This is where I am stuck, research has been done but the funds are the lacking aspect of my goal. How do I get an investor?

@Tj Hines that’s what all my research pointed to, I only ask because I spoke with someone that did not qualify for a commercial loan and they said it nearly impossible to get approved.

@Richard Bonisa I am out in Oregon.

I heard that commercial loans are a challenge to get, I was wondering if this is true. I read and researched that the property needs to make good money in order for the bank to approve you. Do you also need assets for commercial loans? I spoke with a commercial lender and he already said he could get me financed for 80% for a property. Just need some insight.

@Kyle Mitchell

That’s kind of the hard part is finding reliable team mates. I had one candidate but when we started talking about a apartment complex I found he started going off on getting a building that’s 4 times the price. Which is why I joined this network of people who have similar interests and goals.

@John Corey

Red tape was just a figure of speech not actual red tape. I understand where you are coming from but like I said it does not make any sense to buy these units in my area they are over priced and need a complete rehab.

@John Corey

A poor condition four plex in my area is 800k plus an additional 100k or more for repairs. That loan is massive for a residential property and I would probably never get approved for it. With the research I have done it has become clear that commercial loans have less red tape.

@Theresa Harris

Yeah I definitely will have the building inspected prior to the actual purchase. My lender also mentioned that he would personally go out to the building with the inspector to make sure everything is looked over.

This has been extremely helpful!  I have considered doing small investments like a duplex, triplex, and even fourplex but they are priced very high in the area I live. It makes sense to invest into an apartment because of the price and the return they bring.  I am definitely not trying to test waters with both feet, this is a big venture for me and i am trying to learn as much as possible.  The feedback I have received has been amazing!  Thank you for everyone’s input!