All Forum Posts by: Account Closed

Kevin Meyer FS Houses. However they only manage in certain areas. Mostly inner city. I would talk to them for sure.

John Zhao Jessica Madison from https://www.turnkeyal.com. I have had 3 different managers in Bham and she has been the best. Smaller operation but does a great job and communicates well.

Does anyone know of any banks or credit unions that do HELOCS on rental properties in Indiana? I am looking to leverage some of the equity in my homes that have appreciated. Refinancing is another option to consider. However I am also curious if anyone knows of any other strategies to use to tap into this equity in these properties?

@Scott McMillanHad a bad tenant that trashed the place.  It took a while to re rent it too.Lots of high crime areas out there.   I just don't think it is a very desirable place to live.  I target millenials as my renters and they want inner city.  I have also got some appreciation on all my units I bought there where it seems I would not be able to get what I paid for for my home in Lawrence.  

@Anthony Gaydenyou are correct that I have been comparing 10-15 unit buildings to duplexes and fourplexes.  Getting a 50+ unit building does seem to work better but coming up with that big downpayments is tricky.  I'm also not interested in things like syndications or partnering up with anyone as I wouldn't prefer to have total control of the property.  Looks like for now I will stick with the 4 plex units and possibly trade up to the big apartment buildings late reply on.  Thanks for or your response reply

I have been researching like crazy for the possibility of investing in larger apartment buildings but seem to analyze myself back to smaller multi units and duplexes every time. The loans are better and easier for the under 4 unit buildings, The cash flow seems better, and then the inventory seems better for these as well. I also picture the target millenial population to be more interested in smaller units as well. Does anyone have any insight on this topic?

Kevin Mosher we may be able to help each other as I am looking to expand my portfolio into more commercial properties. I current have 9 SFH and 1 5 plex in Indy that I have grown over the past 3 years. Have a few in Birmingham too. Shoot me a PM if you are interested in connecting.

Jason DiClemente Jeff Greenberg thanks for the reply gentleman. How much does the interest rate typically go up or down from the index? With the way things are going I can only assume it will go up after the 5 years.

I am looking to change my strategy from SFH and small Multiunits to more commercial properties of 4+ units. I have been in contact with a commercial lender and he gave me the following terms as a rough estimate on what I could expect for the loan. 70-75% LTV 5/1 ARM Rate between 4.75% - 5.75% 20-25-year amortization Is this generally the norm for these kinds of loans? Any insight on this would be greatly appreciated. Thanks everyone.

@Justin Young  slow and steady wins the race man.  People rush into these things and end up with a portfolio of garbage and tons of bad experiences. Sounds like you are doing things right.   

@Samantha Soto got your email and much appreciated.  I'll keep you in the loop if I hear any hidden secrets to this type of investing .