All Forum Posts by: Stan Yen

Hello everyone!

I'm looking for a handyman that have experience in replacing carpet, fix cabinet doors, replace windows, and some minor items. If there's someone you know or have past experience with, please let me know.

Thank you!

Stan

Hello wholesalers in Los Angeles areas, we are looking to work with you guys.

We target light/mid rehabs in all areas of LA areas. We target homes we can deliver to market for conforming borrowers and/or at a retail price below $600,000.

We have the capacity to handle 5-10 deals in our pipeline at a time and buy with cash and/or our established credit lines/private funds.

Our request:

1) Please do not send us properties on the MLS

2) Please do not send us properties on which you are not in direct contact with the seller. We protect our sources, can/will sign NCND and request direct access to sellers.

Thanks everyone,

@Roy N. 

Yes, those number are pro-forma provided by the seller, it is not actual number. I do believed the actual number on actual OE might be higher, and great point that vacancy rate, bad debt, and eviction rate must be something need to look closely at.

@Kenneth Hynes 

I am contacting the seller agent to provide the rent rolls and tax statements for this property. 6.8% is base on the highest commercial loan rate I see online, and I use this number just to be safe since it is base on pro-forma number. From what I know commercial lender do require 20%-25% down, but more base on the DSCR require at least 1.2 and since base on the current number it comes up to 1.47 @20% down, I think there will be room for negotiate.

Thanks,

Hi Nick,

I'm on the first analysis base on the pro-forma provided by the sellers. Thanks for the great suggestion, and I'll defiantly looking into more detail on the rent roll and actual operating expense to see if there is room for increasing rent and lowing the expense.

I project the mortgage @ 6.8% to be on the safe side, since this is the first multi-family deal, and not sure what kind of commercial mortgage rate I can get.

From what I know, the commercial mortgages are base on the debt service cover ratio but I am not sure how they come up with the rate. And if I purchase the property under a new LLC, is the bank still evaluate only base on the DSCR or the bank will require a personal guaranty. Please correct me if anything is not correct.

Thanks,

Hello BP members,

I am just recently join the BP forums, so I'm not sure if I posting this at correct section.

I am trying to analysis if this deal will work out base on the limited knowledage I have and hope I get number close enough to more experience investors. Please correct me if I have anything incorrect, that will be highly appreciate.

Following will be the numbers and detail.

Purchase price: $275,000

EGI: $51,340 (this area rents about $400-$500 1bed/1bath)

OE: $25,896 (50.44% of the EGI)

NOI: $25,444

DS: $17,285 (30yrs @ 6.8%)

CADS: $8,159

CAP rate: 9.25%

CROI: 14.83%

DSCR: 1.47

I am trying to make this deal in to a seller finance for at least 10%, but I am not sure how most investors do that.

Thanks all,