All Forum Posts by: Stephanie P.

Hello, BiggerPockets! It's been a while since I've been on the forums. I have a question. I'm looking to carve out a niche within syndicating apartment complexes. I was curious to see what your take is regarding buying smaller multifamily properties under the $3 million range and combining multiple properties within a city to package them as a portfolio for sale as my exit strategy. I'm interested in acquiring smaller properties that may not be attractive to syndicators. Are there any pros and cons to this approach?

Hi everyone, 

I would like to get an opinion on a deal I have under contract, I have been a bit hesitant due to the interest rate that I am getting on this deal. I may be overthinking too much, feel like I'm stuck on analysis paralysis, so any input I can get will be helpful. 

This is the property info:

Located East side of Hollywood, FL

Fourplex consisting of (2) Studios and (2) One Bedrooms

Property is in good shape but outdated, needs: (4) new bathrooms, fresh paint, maybe windows 

Current rents are $4,150 total

Market rents are $5,600 total (Conservative) 

I would be inheriting tenants, so I would have to go through the process of vacating the units, renovating, renting. 

Purchase price $655,000

Loan terms: DSCR with 20% Downpayment at 8% interest rate

I estimate insurance to be around $4,500-$6,000 / year

Taxes around $10,000-$11,000 / year 

Based on this numbers, the property will not cash flow on day one. After raising rents at conservative numbers it will cash flow about $500-$600 total per month. 

I am not even calculating for vacancies, management, etc. Not to worried about it because I will be self-managing and I know I can get them rented pretty quick on that market. 

I think the numbers are not super attractive, nor terrible, and what keeps me engaged is the future appreciation and rent increase over the years. 

My plan with the property is to hold it as a rental but would like to recover as much as possible from the capital invested while keeping it cash flow positive. 

I have experience investing in condos but I feel those are pretty straight forward and easy to do, this would be my first time getting into this type of deals. 

Any thoughts on this? 

Recently bought an investment property in OH in cash rehabbed it and now looking to refi to get cash out

Got this weird offer from a mortgage wholesaler

7.5% no points 30 yr fixed for now

Then in 6 months zero cost refi ar 5.8% no points with a 30 year fixed they will put this in writing still waiting on the paperwork

Does even look legit? Never seen a refi structured like this? What question should I be asking the lender?

I am preparing some documents that I would be able to provide to a hard money lender when approaching them. Definitely looking for properties that need work. 

I plan on using a contractor, but don't have somebody I use regularly. Should I locate a contractor first? Thank you for your help!

I’m looking to invest outside of my home state, what states are best for properties in the 100k-300k range? I am looking for reasonable cash flow and appreciation.   Thanks again for any info provided.

Hello all! I am an investor in Delaware county right outside of Philadelphia. I currently have two rentals properties near Widener University and looking for my third. I know finding a full BRRRR in the current real estate environment is near impossible, but I was curious how investors currently doing the BRRRR method are able to get out of their hard/private money and have the bank acknowledge the new value of the rehabbed house before the 1-year seasoning period?

All the banks I have talked to will only give me financing on the LTC rather then the LTV of the rehabbed house if it is before the 1-year seasoning period, thus I am not able to get as much money on the back end as I would like or I have to wait a whole year to refinance out.

Is anyone else having this issue? Would love to get some insight, feel free to message me as well, always looking for new connections. 

Hey everyone quick question looking forward to everyones feedback, 

We have 150k, We are actively searching for a deal to add value too and flip. We have a great relationships with our local bank and wanted to know would it be wiser to take out a construction loan or go the traditional route, When looking to Buy, Reno, & Flip?

I'm currently finishing up a rehab and my partners and I want to keep the home. We own the home free and clear. Our hope is we can rent the home and tap into the equity to use on another project. The home value is ~$250K(I'm a broker and I pulled comps). The home is owned by the LLC and there are 3 partners. One partner is employed and has over an 800 credit score. The other 2 partners are self employed and have scores in the mid 600 range. What do you guys think is the best way to tap into the equity? DSCR, Cashout, HELOC, Conv Mortgage, Hard Money. I've looked at all of these.

Hey BP,

Just acquired my first duplex using a 10% down 7 Year arm loan...

My job is a sales engineering role... I have a guaranteed salary for the first year (which helped me get my first loan), but then it goes to pool plan style commissions after that... (Wondering would you guys recommend a fixed salary position in order to scale quickly or it won't matter)

I love the idea of long term tenants with 1 year leases... What would you (a more experienced investor or lender) recommend I do if I am looking to scale quickly with hopes of buying a 4-12 unit property as soon as possible?

(I can go into more detail in DMs)