All Forum Posts by: Kim Handelman

@Tim G. Thanks so much for all this info. This is an REO in a competitive part of town so let's see what the bank says to this kind of financing. I'm making some calls now to see if I qualify. So much to learn!

@Travis Boyer Thanks for your input. I am planning to hold this property. I my experience Hard Money Lenders are for short term flips. I'm hoping to find a partner on this to bring some more cash to the table, but still would be nice to be able to put the rehab into the loan.

Hey Everyone,

I've found a great REO in my market but I'm low on cash for renovations. I've heard the FHA 203k loans are good for this but I'm not going to live in the building. Anyone know a type of loan I can get where I can wrap the rehab in the loan without having to live in the property? THANKS!

Hey Everyone,

I've found a great REO in my market but I'm low on cash for renovations. I've heard the FHA 203k loans are good for this but I'm not going to live in the building. Anyone know a type of loan I can get where I can wrap the rehab in the loan without having to live in the property? THANKS!

@Aaron Brown Thanks so much for the post above. it gives me an idea of what I'm in for if I pursue an FHA 203k loan. Did you say that it has to be owner occupant? I've Googled the 203k and can't find anything about having to be an owner occupant.

Here in CT there are some areas that are doing great and others not so much. Fairfield is always hot. New Haven's got the tightest rental market in the U.S. at 2% vacancy rate. Hartford area is picking up a little but overall, CT has been much slower to recover than much of the rest of the country. 

Hi Everyone,

Does anyone know how to look up a city's rental statistics? Trying to figure out how to analyze whether an apartment building I'm looking at is rented out at market prices. I've looked on craigslist but there are so few rentals in the area it's a bit hard to tell what the market can tolerate. 

Thanks

@Ben Leybovich You do make me laugh!

@Terry Alexander@Brian Adams Hey Terry, I too am interested in big multi-family units. Brian is right, finding the market is key, I just finished Dave Lindahl's book "Emerging Real Estate Markets". It' has a lot of good points on making the jump to big buildings, especially finding the market. Good luck! 

How am I going to get my Brandon fix?? How about Ben Leybovich? Doesn't he do everything better than you ; )