All Forum Posts by: Todd Dexheimer

@Kenneth Garrett I would not assign days. It should not be an issue. We have 11 unit buildings with 1 washer and 1 dryer and it is not an issue.

Yes, let them know. A good agent should ask you what financing you are getting anyway. If you are using a good agent they will use that fact to your advantage for negotiating a good price. Cash is king! Not sure of a negative - they will know you have enough money to buy a house? You should also provide them with a bank statement. 

@Bryan Tasumi there are always other deals. Connect with the wholesalers and you may find a great deal or buy a duplex and rent out the other half. For the banks, go with a National lender. If it is your primary residence then it should be easy to finance

Those slabs look to be at least 15ftx20ft each, so you'd be looking at roughly 13-14 yards of concrete. Using J Scott's numbers you would be at around $1800-$2000 for concrete alone and another $2k for labor. @Will Barnard I would say you're numbers are more accurate. $500-$1000 would get you less than 5 yards across the country. 

Don't patch - that just looks like you're hiding it. I would replace it if the comps and neighborhood has nice driveways. If there are several with cracked drives then keep it. Someone above said it's $500-$1000 to replace 3 slabs, by the pic, I would suspect it to cost a minimum of $1000/slab. The cheapest option (other than nothing) would be to make a cut in the middle and remove the old, then acid stain the driveway so it all matches. 

The baby boomer generation has already been retiring and will continue to retire throughout the next 20 years, so this will be a slow process - not a 1-2 year thing. At the same time the millennial generation will be buying houses slowly as they start to have kids. Right now people are very hard on Millennials, saying they're lazy, spoiled and the like (see Thomas S. post above). This has happened throughout history. My parents talk about how the baby boomer generation going to be a huge failed generation, after all, they where the pot smoker/hippy generation and now they are the respected generation, who - by the way - raised the Millennial generation.  

Could we see some issues? Maybe, but I don't see it as being a major reason for the next stock and/or real estate crash. 

@Mark J. call your local banks and ask for one of the VPs of the commercial lending department. Tell him you are buying 1-4 unit rental properties and would like to talk to him about financing them. If he/she mentions transferring you to a residential lender, be sure to tell him that you want them financed quickly and cannot wait for the seasoning period. You may want to get several banks interested in lending to you depending on how big you plan on getting. Before I did a portfolio loan on a bunch of my properties I had 9 banks with loans on my smaller 1-4 family properties.

@Mark J. yes you can get commercial loans on 1-4 unit properties. 

@Davit Gharibyan you're right in not buying based on tax value, that means nothing other than the seller is overpaying on taxes. I would be cautious buying anything in new hope/crystal under a 7 cap unless it has upside.

Syndication is a great way to go, but the platforms you mentioned can be good as well. In my mind they are basically the same, with slightly smaller returns to be made with the online portals, but still great potential. It's like any deal - the more you vet the deal and the owners, the better off you will be. I can go on any online portal and get my apartment deal on their web page to raise money, but that doesn't mean it's any better than if I raise money without the portal. Good luck in what ever route you go, but please do your research on the companies you invest with!