All Forum Posts by: Shaun Draughn

Hello all, question for those of you who are buying multifamily properties! What are some of the biggest fees you incur during the due diligence period? Besides attorney fees, appraisal. I am just trying to understand better how much more in addition to the down payment should you expect to pay! And what type of “consultant” assessments are ABSOLUTELY recommended be apart of the due diligence process? I am reading “The Due Diligence Handbook For Commercial Real Estate” by Brian Hennessey and there are some good helpful tips thus far but I’m not seeing any specific detail about fees for these steps. Would love to hear from those who are experienced in acquisitions or anyone who has been through the process! Thanks in advance!

I am looking for a commercial real estate wholesaler as well! Any luck?

this still available?

whats the ARV?

what is the 32k initial investment you  speak of? is this currently rented? in need of repairs etc.?

My partner and I recently acquired a $3.5M LOC. through finance of america with Vince Jacobs out of charlotte.

its not a true LOC but more of a lending ceiling but they lend based off of liquidity and net worth. not ideal "fast money" but has proven to be a lethal weapon when used correctly.

they initially ask for  

-Credit score

-Cash/liquidity position

-experience 

-Net worth (401K/retirements, marketable securities, assets etc…) they will go 5X the amount on cash, 65% on retirements and a 75/70% on real-estate that is free and clear

hope this helps

hello, would love to be on the list thanks

God bless, 

Hello Federico I am interested in learning more about this property! can you contact me at your earliest thanks 

@Brian Adams thanks for the input, sorry about the late reply.  Were you able to get your deal done that you mentioned?

@Chris Cambridge are these conditions something that you have experienced or are you a lender that's able to do this type of refi as this deal actually meets all of these requirements. Also Do you mean that each building must be worth over $115k?

Welcome to BP Cody and God speed on your new endeavor. To Emily: how long has this meet up been going on? I would love to get involved with that once I am back in NC!