All Forum Posts by: Adam Murday

- have property manager/contractor walk the property to review needs (providing with an itemized list of needs)....Yes conduct due diligence at this point.

-compare to offer, adjust if needed, walk away if it doesn't make sense?.......If you can't come to terms and the deal doesn't make sense anymore, walk away

Melanie, Thanks so much!

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Originally posted by @Carlos Villalobos:

Hi @Adam Murday, walk it with a couple of contractors to determine the rehab costs & have them write an itemized bid. Also when you walk it record it and give a description of what it might need. First book I read was the BRRRR book and currently reading long distance investing book as well. Cheers!

Hey Carlos, thanks for the response! Unfortunately, my schedule is a bit overwhelming at the moment, which means I can't walk the property on a whim. Which is where my issues are stemming from! Good advice none the less. Thanks! let me know what you think about the book. would love to compare notes when we are done.

Take care,

Adam

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Originally posted by @Melanie Dupuis:

@Adam Murday I would not miss out on deals, due to the fact you cannot walk through them. If the numbers make sense, get it under contract, then do your due diligence. Speed is king!

Thanks for the response Melanie, so you would suggest doing the numbers on what information i can assume, and then getting the details after once it is under contract? ergo, the process would be..

- Find and anaylse property data

- make offer/ acceptance based on knowns.

- have property manager/contractor walk the property to review needs (providing with an itemized list of needs)

-compare to offer, adjust if needed, walk away if it doesn't make sense?

Thanks again!

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Hey all,

I am a Real Estate investor in Barrie Ontario, Canada and I have been working to put together a team in Sudbury Ontario to take advantage of the lower cost of real estate. So far I have been working on putting together my "core 4" and have built a good network of professionals that I think can/will handle the jobs I need. I am focusing on multifamily properties using the BRRRR model. I currently have not made any offers and have reviewed a number of properties that sold before I was able to do so. However, I have found a number of properties that I am interested in. That being said there is a part of the process that still escapes me. Walking the properties to determine the needs

My question is; As my current schedule makes it impossible to get up there for a personal walk down of all the potential properties. How do I go about determining the rehab costs of a given property, so that I can make an educated offer? I am itching to start this next step in my investment journey, but I want to make sure I am doing it right. I am also not in a rush to get into the wrong deal. Any guidance is appreciated. (i have read the bigger pockets BRRRR book, and am currently reading the distance investing book.)

TIA, Adam.

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All Forum Posts by: Adam Murday

Adam Murday has started 1 posts and replied 4 times.

Post: Distance Investing in Multi-family Properties

Post: Distance Investing in Multi-family Properties

Post: Distance Investing in Multi-family Properties

Post: Distance Investing in Multi-family Properties