All Forum Posts by: Tanya Maslach

Hi everyone!
We want to get into MF (2-3units to start) doing BRRR... and rent out for Mid term rentals.

We see a house that meets our buy box, and our investment goals are;
- $300 gross profit cash flow per month
- 30% equity + with forced appreciation after rehab
- Refi (if rates come lower!) in 12-18 months and do this again with larger multifamily.



Details below.   My questions are:

a. Would it be unwise to get a HELOC that takes out almost all our equity on our SFH rental to invest in a multfamily (2 unit; 2bed/1 ba per unit).
-- We are estimated ~ $80K in rehab and comps for ARV are $775-825K. (List price is $619K)
-- We are concerned about the monthly costs to support a hard money loan AND do a HELOC.
-- Our current rental can support a higher mortgage payment (with the HELOC), and still have $200+ positive cash flow after the refi.

b. After number crunching, we want to offer terms that work for 20% down + rehab estimation.. that puts the offer at around $525K. Mortgage payment with T/I - $2633.  
-->Rental estimations for area are (conservatively): $2000 lower unit, $2600 upper unit.

What about this doesn't work for you all, given our investment goal and strategy? What numbers am I not considering?

What questions am I not asking?

Thank you! 

Thank you SO much for this ! I'm trying to move from SFH long term rental (one-off's) to building an actual portfolio focused in multifamily and growing from there.
I can feel myself getting buried in spreadsheet-mania and the BP deal analyzer tools -- and is a soul-crusher. 
Scheduled a visit to see my first property next week just to get-out-and-do-it already. 
My biggest hurdles now are: finding and trusting the right agent (Denver), and  lender.  (Suggestions welcome -- I ran through BP's recommendations without anything working out)

@Yosef Lee  -- I sent him a request to connect...   hopeful he accepts so I can learn from him, as you did.
Looking forward to speaking with you soon!

Yes for sure! :-) Thank you.
Fortunately in my research, I've found MTR in Denver to be in very high demand, and in fact, inventory can't meet demand.   :-)
Now - I'm working the spreadsheet to make sure everything else works out! 

Hope to stay in touch with you to learn more about how to make sure I get the right deal!

Hi everyone!
I'm new to BP and trying to build a team as I dive into more frequent and long-term profitable REI.
I've been doing SFH rentals over the last 15-18 years, but it's all been very traditionally financed (ho hum, 30 yr fixed) and as such has limited my ability to invest more frequently, and grow a portfolio.

I'm here to learn how to use more creative financing strategies (private money lending, Sub-to, seller financing) to acquire 2-3 units (duplexes, tri) and 5+ multifamily properties. 

I've tried talking with some of the agents suggested by the auto-tool BP provides for "find agents in your area", (only 5 were suggested! ;-(  ) -- and I'm still searching for someone I could trust who could be an "A-team" "unicorn" like agent. ;-)


Does anyone have recommendations?

My primary goals are to use BRRR to buy-and-hold these 2-3 unit, and multifamily properties.

I hope this context helps!

Thank you.
tanya

 I would love to chat with you. I'm actually considering that Sub To community now. Along with another.  Would be great to chat and learn how you've done since joining.

Thank you @Account Closed!! . I appreciate this.  Very kind.

I think it's like most of my experiences in corporate.... do your due diligence! ;-)
Whether it's here, or in a job-search, or in a real estate deal.... Due diligence! ;-)

Thank you so much.

Hi @Hadar Orkibi    Mid Term Rental  (30 days-90days)

Thank you @Hadar Orkibi!  This means a lot to me. 
Absolutely looking to do everything you mention in your post.

And have a call with Yosef set up! :-)

My focus really is to do this first small MTR, on multi family, with a partner. And am aiming to do so with a stellar member of this community!

Thanks @Account Closed  -- Yes absolutely.  And it's why i'm HERE in BP.  The "learn from someone experienced" part.  I joined believing the community was here to help its members make such decisions, (smartly), and in some cases, partner together to improve the probability of success (and learning for the newbie!).

I'm also learning quite a bit from the Pace Morby community as they are very tactical, less theoretical, and operationally-focused.  They offer so much in all the paperwork, scripting, and more to remove the problems you mention so the "error" part of trial and error is mitigated.