All Forum Posts by: Junior Salters
Junior Salters has started 57 posts and replied 239 times.
Post: Why do a lot of investors stay away from medium to larger multis?

- Rental Property Investor
- Spartanburg, SC
- Posts 253
- Votes 56
I currently want to get to a place where I am comfortable syndicating a deal and doing the larger multifamily 40 Unit + deals because I do love the sophistication and numbers behind it. But I do want to acquire a 5-12 unit property in the meantime to get my feet wet dealing with some issues on a smaller scale.
I'm going to reiterate what everyone else is saying and say I think it depends on personal goals and personal preferences, which in the end is the beauty of real estate.
Post: $33,750 in 13 days | picture portfolio

- Rental Property Investor
- Spartanburg, SC
- Posts 253
- Votes 56
Strong! Keep it going! Congratulations!
Post: Spartanburg Cap Rates

- Rental Property Investor
- Spartanburg, SC
- Posts 253
- Votes 56
@Jade S. they are all 1 bedrooms (large size rooms and living areas) and well below market I believe with half rented at $450 and the other half at $515. It does need some revitalization and definitely a value add. Just wasn't sure with it coming with such a high price and low cap rate for lower graded property. I am still very much interested but wanted to gauge what others are seeing. What percentage was your seller financing at if you don't mind me asking?
Post: Spartanburg Cap Rates

- Rental Property Investor
- Spartanburg, SC
- Posts 253
- Votes 56
@Jade S. I completely agree. Even with 20% down at 6.5% cap rate this particular deal comes out to be about $60/unit. And I'm seeing that alot of owners aren't necessarily interested in cashflow or either they own it without any mortgage so it cash flows regardless, maybe just not at a high level.
Post: Spartanburg Cap Rates

- Rental Property Investor
- Spartanburg, SC
- Posts 253
- Votes 56
@Jonathan Twombly It is a C property in a stable area near Spartanburg Christian Academy. I've looked at other 4plexes not even five miles down the road around 8% cap but when I run my numbers with conventional financing on this 8 unit it doesn't even hit close to $100/door. Wanting to get into multi family but if this is the current state of cap rates I'm in trouble .
Post: Spartanburg Cap Rates

- Rental Property Investor
- Spartanburg, SC
- Posts 253
- Votes 56
Post: Purchase of 3 Duplexes qualify for portfolio loan?

- Rental Property Investor
- Spartanburg, SC
- Posts 253
- Votes 56
Thanks for the feedback guys. I think I will try a local credit union whom I bank and get their take and go from there. Looks like it will depend on what bank or credit union I use.
Post: Purchase of 3 Duplexes qualify for portfolio loan?

- Rental Property Investor
- Spartanburg, SC
- Posts 253
- Votes 56
Post: SC Network

- Rental Property Investor
- Spartanburg, SC
- Posts 253
- Votes 56
Former wholesaler now Buy and hold investor in the upstate (Spartanburg, Greenville, Rock Hill). Hey everyone!
Post: Multi Family Repositioning | Picture Portfolio

- Rental Property Investor
- Spartanburg, SC
- Posts 253
- Votes 56