All Forum Posts by: Adam Robin

Great information!! Thanks a lot. A lot of what I’m hearing makes sense. This is definitely not a desirable area to own property, but I have found myself settling for lower class property in order to yield a decent cash flow. I’d like to purchase something nicer, but apparently, there is a missing link in my strategies for finding properties that meet those qualifications. Duplex’s in more desirable areas are double the price. I don’t think they exist on the MLS. I really want to get the ball rolling, but I am having trouble finding that first purchase. I have the money and the motivation, but I can’t seem to get it done. I’ll keep digging until I come up with something. Thanks again.

Thanks for the feedback. The units are in excellent condition. They have 10+ years in the roof and probably 5+ years on the HVAC. If I were to move forward I would offer him a price on both doubles. All 4 units would bring in $4,000 per month. I’m looking to buy and hold a property that cash flows well with appreciation being a bonus if it occurs. I want very very little involvement with managing the property so I am willing to sacrifice some return for a stress fee investment. I am just having a very difficult time finding properties that will cash flow as well as what you all have suggested. $220,000 would be an incredible asking price for something like this in my market.I was considering offering $240,000 - $260,000 tops for both doubles. Any tips, tricks, or suggestions in finding better deals? I’ve only been involved in real estate for about 6 months now and I rehabbed and sold one other double earlier this year with a partner who was a little more experience than I am. The property was in a lower class area and it wasn’t something I was interested in holding on to for long. I’m more interested in buying and holding a higher quality property moving forward. All I have really need doing is looking on Zillow and talking to local real estate agents. I’ve been looking for 6 months and can not find anything that makes since. I’m in New Orleans, LA and south Mississippi area. Keep the feedback coming. I am anxious to learn more.

I was hoping to find some people to bounce around discussion about this deal. I’ve only bought and sold one property so I am still learning. The seller has two identical doubles for sale (3 bedroom / 2 bathroom per side). I would be interested in buying both of them. I’ve figured a price that I feel would be a reasonable offer, but I was hoping to hear from some more experienced investors first. What would you pay for this deal? Any help, advice, thoughts, or tips would be greatly appreciated. Thanks in advanced. 

https://www.zillow.com/homedetails/1510-Numa-St-New-Orleans-LA-70114/149053233_zpid/

Rents: $1,000 per side ($4000 total)

Insurance: $4386 annually

Taxes: $2,824

Management: 10%

Maintenance and CapEx can only be estimated so I'll leave that to you. Property is in excellent condition.