All Forum Posts by: Ryan Bakerian

Hi everyone. I work with new investors who constantly ask if I have any good excel sheets for new investors starting out to track expenses, rents etc. These are people who are just getting started with a two family hear and there. I don't think they really need complex software as they are new to the pond. I thought I saw some stuff get posted here awhile back but I can't track it down. 

Any help is appreciated. 

Super challenging. I would figure out a way to network with owners and people associated with this class of real estate. Most "deals" I see online are nowhere near decent cap rates and they are few and far between. 

Quote from @Cory St. Esprit:

Quote from @Ryan Bakerian:

Would DSCR work here with the numbers? May be a better current option with current rates.

 I’m not exactly sure what this is Ryan. I’m sorry. Can you explain?

DSCR loans are good options for commercial as you can get a 30 year amort and there is no resets. The property has to cash flow well though and qualify. You also need excellent personal credit.

https://www.biggerpockets.com/blog/dscr-loans-what-are-they

I think a lot of investors are in the same spot currently. As an Agent working the frontlines I have sold some multi family properties over the last 12 months to investors that made such low margins and some were actually negative cash flow. Blew my mind these guys were willing to buy these homes at these prices. I've found one property myself as an investment but it was an off market deal with old clients. 

Deals are sure tougher now than ever. 

I'm also new to the syndication industry but like what I'm hearing. I personally invest in multi family properties. Happy to be aboard the ship. 

Quote from @Justin Hanson:

I am wondering if you tally up all costs that come with purchasing a home (turn key rental for this example) such as title and escrow, closing costs, property taxes, etc. What is the average total cost as a percentage of the homes sale value? My wife and I are Looking to buy our first investment property and want to get an idea of how much money we will need to get started. We plan on financing the home with conventional financing, 15% down. We live and are looking in Oregon

There's going to be a lot of variables here especially with property tax numbers and pre paids. I'd say 2-3% on average but again it's a hard question as it varies by state. I'd contact a lender in your area and they can get you a good faith estimate if you give them some numbers on a property. 

Citizens Bank has an online only for 4.5% no fees. 

Agreed, case by case basis. Honestly I should learn to paint because I spend a lot on painting it seems... LOL. 

I'm also in a similar spot. I'm looking at a 6 Unit apartment with rents drastically low market due to long term (10+ year) tenants. Several of them are older as well. They are only paying $800 on units that should be easily $1150-$1200 given current rents. I plan to send letters after purchasing when their leases come due to raise to $1,000 a month. I am anticipating vacancies at that point I will rehab the units to value-add. 

Quote from @David HIbbs:

I appreciate it. What do you think about the cash out refi? Do you like that idea to be able to acquire more properties? I could use one or two of the houses that I have enough equity in to be able to make the down payments. Thanks again

The BRRRR method is popular for a reason. It gives you more cash to buy more properties. You obviously have to take in the current (higher) rates than normal however If you want more properties to rent and fix this seems to be the best current option.