All Forum Posts by: Sam Mitchell

Well, without knowing anything else I think appreciation is a safe bet there. You're not likely to see anything really fast like if you're looking to flip it in a couple years, but I would bet on steady, slow, sustained appreciation in that area pretty much indefinitely.

How big are the units? How many BRs? How old is it? Address would be helpful.

Hi Yall,

Looking to get connected with an experienced commercial broker in Chattanooga. Atlanta-based developer here pursuing multifamily land deals as well as historic preservation / adaptive reuse deals. Please reach out!

Thanks.

Depends if you're asking about single family only. If so, yes, high demand and low supply and rising prices. In multifamily that trend is slowing and maybe reversing in some cases already.

Developer here. Pretty tough job market out there right now I would expect, especially for someone with no experience and without a graduate degree. Sorry, I know that's not the most helpful answer. Happy to talk to you and help you out though.

Honestly, it will be difficult and competitive to find good deals right now especially from out of state. I'm constantly looking in Atlanta and it's been increasingly difficult to justify buys in Atlanta for the last year or 2.

@Chris Mason I understand some of those words... haha. You're in Oakland? I'd love to talk more if you're open to it.

That includes just the points. Closing costs are over 5% of loan amount. I wonder if that is just a function of the loan itself being small.

That's a good point. It's a relatively small loan - 141k, about 4.2k in fees. Still curious if people feel that is high.

I'm working on a cash out refi of a 4-unit property of mine. I'm seeing an origination charge that is 2.5% of the total loan value, which together with the loan points comes to 3% of total loan value. My broker is telling me this is because cash out refis on 4-unit properties are more risky, and there's nothing he can do. Am I crazy to think that these fees are too high? My rate isn't even spectacular at 4.375%.