All Forum Posts by: Snehann Kapnadak

Happy New Year everyone!

Does anyone have an Excel spreadsheet for analyzing seller-financed deals? I'd want to be able to do a quick analysis that includes the following:

• Agreed-upon purchase price
• Finance details: amount the seller would carry back vs. the amount the sponsor brings to the table, interest rate, term length, etc.
• Monthly payment amount we would owe to the seller
• Balloon payment owed to the seller at the end of financed period
• Refinance details (ARV, long-term debt interest rate and term length, LTV ratio, etc.)
• Cash on cash return during the financed period

I'm creating one but I'm not sure if I have the formulas to make sure that I have the formulas correct, so I wanted to double check. I couldn't find anything on FilePlace either. I'd be happy to share my final spreadsheet when it's ready if anyone wants that.

Thanks in advance!

@Leo Watts Thanks for commenting. $250K would be my max price point. I want to put 10-15% down or less. FHA or 1st Time Homebuyer program. Basically I don't want to pay more than $1300/month in my monthly payment (whether that's a monthly mortgage payment or rent payment), so that's my litmus test as of now. I've ran rough numbers in a rent-buy calculator and my breakeven for when it makes sense to buy is around 2.5 - 4 years (depending on the purchase price, estimated rent payment, etc.).

Looking to invest in Rosslyn, Courthouse, maybe Clarendon area. I need to be fairly close to the DC metro area, so I'm hesitant to go too deep into Arlington.

I hear you on condos lagging in appreciation and I also need to make sure they're rentable after I move out. Lots more to think about!

@Andrew Texin Same here haha. I don't want to make someone richer. But I'm also thinking about that phrase "Live/Rent where you want, invest in where it makes sense" and I'm not entirely sure if buying an apartment would make sense right now.

@Dan Bernstein Thanks for your comment! Unfortunately I don't have enough saved for a multi in that market, even under FHA or 1st time Homebuyers (I'm not a vet, so no VA for me).

@Jhosdyn Barragan Good point about Arlington, thanks! I'll continue to track that part of the market. 

Thanks @Russell Brazil, yeah I remember you and I chatting a few months ago and you had mentioned there being limited supply for multifamily and rowhouses. I feel like condos are the way to go but I'm not sure about the exit strategy: will the condo board allow renting after I move out, how difficult is it to deal with a tenant in a relatively landlord-unfriendly market like DC, etc. I have to do more research.

@Roberta Allen - Thanks for the insight! I like NoVa but the price points seem out of my range unfortunately!

Hi All,

I'm trying to make sense of the market right now, specifically in the DC/Northern VA area. Is it a good time to buy an apartment or condo to hold as an investment? I will be in this market for at least 2 years, so I was trying to figure out if buying a studio would be better than renting. I don't have enough savings for a 2-bedroom and therefore would not be able to househack. But I was thinking that I could build up some equity and then rent it out at a premium rent after I move out. Interest rates are low and the are is projected to remain stable over the next 10+ years, so I feel confident in always having a good tenant to rent to. I'm leaning more towards Northern VA due to the relatively friendlier landlord laws vs. those in DC, the job growth due to data centers, Amazon, and warehousing in that area, and the relative affordability.

Any insights would be much appreciated. Thanks!

Thanks @Sridhar Sannidhi and @Quinn Konitshek! I like the ability to store rent rolls and comps so that over time and track them across properties so that over time, you can get a good sense of the trends in market rents.

Hi All,

Hope all is well! We're looking at adding an automated underwriting tool for a company I'm working with. We're looking to streamline our underwriting and decision making and are debating between RedIQ and Enodo. Does anyone have any experience on using these platforms? Also open to other platforms that have been helpful. Not a fan of Argus as it's honestly too expensive.

Any insights would be much appreciated. Thanks!

@Nic S. Congrats! That's awesome to be under contract. Hope it goes well! And yeah you're right about moving forward and taking one step after the other.

@Steve Hyzny Very true. I guess I should have clarified that I wished that the market had some natural appreciation to it so I could build more equity aside from just principal payment.

@Gordon Cuffe Good point. I like the cash flow not but I'll look into selling down the line.

@Pranav G. Still working on purchase #2 unfortunately. I want to skip over the duplexes though and move into triplexes or quads (or larger if I find some partners).

Thank you to everyone else who had kind words of support! Glad you all found the post to be helpful :)

@Fred Mompoint Glad you found it helpful! Feel free to PM me if I can help in any other way.

@April DePombo No problem, see below:

1. 1. No agent. I went through a Turnkey provider. I found them through BP and then did due diligence by calling and vetting them and others and ultimately deciding on them.
2. 2. I flew out a month prior to closing and saw the property, met the PM, and drove around the market for 2 days. I'd highly recommend going to see the property & market before putting any money down. The costs for the plane ticket + expenses are well worth it!
3. 3. Yes I would but definitely vet them and the others and decide which one has the best properties for your liking.
4. 4. Besides going to see the property, be more engaged on the property than people say to be. Review the monthly Owner Statements, verify the rents, ask for copies of the leases every year, etc. All those things have been helpful for me. And just keeping tabs on the market as well: subscribing to the local newspapers to understand changes happening to the market, employers moving to the market, etc.
5. 5. I definitely believe in the market and want to do more. But it's been a slow process to buy property #2. Still looking for a good property.
6. 6. I found them through BP and through vetting other PM companies as well. Some things to consider are understanding what their communication procedures are like, how many out of state investors they work with, and how they respond to work orders and things.

@Ryan Guffey There should be a Save for Later button under the title of the post, see below for a screenshot. Feel free to PM me too with any additional questions. Happy to help!