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All Forum Posts by: Adam Biya

Adam Biya has started 2 posts and replied 16 times.

Post: 84 Unit Complex- How would you structure the deal?

Adam BiyaPosted
  • Specialist
  • DC Metro Area - MD
  • Posts 16
  • Votes 5

@Canesha Edwards

Hey Canesha,

Hope all is well... can’t believe it’s been 4 months since this comment! Just wanted to check-in to see how things were going with this deal.

Were you able to close?

Post: 84 Unit Complex- How would you structure the deal?

Adam BiyaPosted
  • Specialist
  • DC Metro Area - MD
  • Posts 16
  • Votes 5

@Canesha Edwards

Thanks for posting and sharing this valuable info Canesha! I’m a former Deloitter as well :-).

Look forward to hearing how the deal progresses, and keeping my fingers crossed for a smooth closing!

Adam

Post: What is the cheapest house you ve ever bought?

Adam BiyaPosted
  • Specialist
  • DC Metro Area - MD
  • Posts 16
  • Votes 5

@Nandy B.

I bought a single family house for $5k from a tax auction. Put in about $23k to fix it up, and could have rented it for $1400/month. Cash flow dream!

Yes, I would do it again. I made the mistake of selling it as it was in a distant market from where I was based at the time. Looking back, I would’ve done my due diligence to find the right property management company to manage it.

Post: Elder care facility / nursing home business

Adam BiyaPosted
  • Specialist
  • DC Metro Area - MD
  • Posts 16
  • Votes 5

Hey there amazing people,

I’ve been thinking about opening a new elder care or nursing home center in the DC/MD area. I’ve visited a few in the past couple years that have been depressing to say the least (poor service, unhygienic, etc.), and think there’s a tremendous opportunity to open one that offers great service to the rapidly aging population of baby-boomers looking for this type of support.

Would love to hear from anyone that has experience in this space, or anyone in the DMV area looking to collaborate on such a project (including financial investors, or experienced potential board members).

Much appreciated!

Adam

Post: New Tenant Screening, do you make the applicant pay?

Adam BiyaPosted
  • Specialist
  • DC Metro Area - MD
  • Posts 16
  • Votes 5

@Jenna Columbus

Hi Jenna, I usually have my tenants pay for the credit/background check. I use Experian’s service:

https://connect.experian.com/tenant-screening/landlord-credit-check.html

It’s great bc you don’t have to worry about payments. The potential tenant can go directly to the Experian website, fill out all their proprietary info, pay, and share the report with you electronically.

And, if I remember correctly, it was only $15 last time I checked!

-Adam

Post: My first multi-family generating over $7,500/mo passive income

Adam BiyaPosted
  • Specialist
  • DC Metro Area - MD
  • Posts 16
  • Votes 5

@Gary Guidi

Congrats and thanks for sharing!