All Forum Posts by: Christian Beebe

We've owned this house for 10 years and looking to move on.  This is HUGE opportunity as one it's filled with long term retners.  Two, there is a HUGE development of parking and shopping going up across the house, meaning they are buying up ALL the houses on that side of the street.  So why wouldn't we hold onto this house?  Honestly because we've done well on the house for ten years and would love to put the money sooner, than later into our apartment buildings.  If you know anything about this area, this is Hyde Park, Ohio, where the rich live and all the rich kids come to live and buy houses or rent.  Houses do NOT go down in this area...GREAT investment for out of state investor.  Price is negotiable to investors, please contact the listing agent, Sarah Miller about the house if you have any questions but of course you can ask us also.  

https://www.zillow.com/homes/for_sale/3649-Besuden...

For those of you who have been doing this for a long time or have experience/inside knowledge, if you had $100k, where would you put it, spend it, use it at this point in 2018 to grab some great funds or gains?  I would love to hear short term or long term ideas.  Longer story, we've always invested in apt buildings but are looking to make some "quicker" money in the short term with the $100k we have available to spend.  Living in the Phoenix area but of course will look anywhere and do not have a ton of knowledge on flips, meaning have never done them...so again curious if you had $100k, knowing what you know now, where or what would you do with it?

Appreciate the responses.

Question for those of you who know,

We currently use several credit cards (to of course gain points) for our apartment properties, which we spend over $150k a year or more on. Sometimes we aren't able to pay the balance in full each month but can pay it down at least 95% which of course leaves us with a balance on interest. Our properties in the Midwest are all large apartment buildings worth north of $4mil so we are looking for a solution that has a lower interest rate of course than credit cards and allows to pay off the balance each month in full and of course pay back the line of credit (or similar) at less interest. Any ideas or thoughts or places/people to contact about this? We've been doing REI for about 15 years and our credit/strength is definitely there but even our bank only wants to do a line for about $500k+ which of course we don't really need, so looking for something smaller and better rates.

Appreciate the help.

So thought I would post this out there as this popped into my the other day and I realized it would be a great discussion.  Let's say you have a grandparent who's credit score is 800+ who is interested in before they leave this earth to help their family do better financially.  Then let's say you already deal with apartment buildings and such and have quite a good amount of experience in real estate.  So would there be a way to utilize this amazing credit score of your grandparent with your already good business and model and experience, to parlay this into obtaining better loans or credit going forward to purchase more assets thereby increasing the success of your family and doing something great to remember your family member going forward.  And in addition, they would smile knowing they helped the remaining generations for years to come they wouldn't know or see.  

Loans, lines of credit, financing, credit cards...any thoughts or ideas how to put this amazing person's score and life to good credit use before they pass on?

Look forward to hearing the responses.

We have a 56 unit property under contract in Columbus we are looking for a partner to split the down-payment.  We have the lenders, the property management co, everything in place and know this property well.  Would need $250k as we will put up the other $250k.  In return, would do a 70/30 equity split of income and profits.

Property is $2.1mil and would NET income $70k first year (conservative) and $140k second year.  

Plan would be to refi around year five, pull out cash and hold for another five years to sell.  Refi in five years would mean $1mil cash out so $300k to you and then you can stay on for the remaining five or we will purchase your share.  If staying on for 10 years, property would be worth $3.2mil or great then so again another $1mil profit, not to mention the ten years of yearly profit and tax benefits.

Entire property is in a great section of Columbus with 100% s8 renters, good tenants, which means solid payments every month.  We've been working with multi-families for ten years so we've got the entire process down.  Honestly didn't expect this property to go under contract but it did so not looking to spread our capital reserves too thin, hence bringing on a partner.

If you are familiar with the Midwest, this area is one of the best to invest in period in this country due to our great CAP rates and solid rental structure.

Our company is nearby so we are able to view the property, make sure everything is being done by the PM company, etc.  

This is a solid investment for anyone out of state without all the worry.  MORE than happy to show our analysis sheets and have you talk to our lawyers and PM firm to show what type of company we are.  Again, we are putting up $250k of our own so our success is your success.

We have to admit, this is somewhat crazy as we are closing on a 48 unit property with Fannie Mae financing but yet our smaller 15 unit deal is much harder to find financing. We are stable company with 15 years experience in our market (Cincinnati) to which we only deal with multi-families usually from a buy/hold scenario. In front of us is an off market deal we have under contract for $465,000. We will be putting in our 20% and looking for someone for the remaining balance of $387,000. The property is stabilized but under managed and is a cash cow and actually right down from one of our other properties. This is a very safe and stable property with current NOI of $60k and that's under managed. We have our national property management firm in place once this property is finalized to get everything back on course in six months or less which will push the NOI north of $79k. As you can imagine we need to get this closed as soon as possible as the seller is getting antsy. Will to talk to anyone from a private investor standpoint, giving some equity when we sell or refi, etc. Please contact me if you are serious.

Appreciate the time.

Appreciate the responses and help.  Will try a few of these and also found some others that lend in this space very well.

Jerry, multi-families small balance loans mainly and financing that makes sense below 7% with longer terms as we buy and hold.  This property is 98% occupied, just badly managed and rents are no where we they need to be so it won't take long to get things right.  Just need a good lender.

Tammer, contact me and I'll give you a number for "Dave" and tell him that Christian sent you.  Amazing guy/crew, been doing this for 20+ years.  

If you are using CRES, I would double check things every month, we have sued them several times and they were horrible and charging way too much.  I recommend Hayes-Gibson any day for ANY part of the country.