All Forum Posts by: Adriano Caraco

I would recommend listening to @Lee Ripma podcast, I learned a lot from that podcast.

I live in NWA and don’t recommend here, I personally invest out of state.
There are big and stablished developers and a lot of competition, the price to rent ratio is not good, 300k house rents for 1.4k. It is possible to make it work but Ohio would be much easier to find deals.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Saint Louis.

Purchase price: $171,900
Cash invested: $13,000

Duplex, recently remodeled, Invested in repairing Sewer Line, Coating the floors and other small work inside the house. Rented both sides in 1 month

What made you interested in investing in this type of deal?

Cash Flow, 10% COCr

How did you find this deal and how did you negotiate it?

Found on MLS, For sale by the owner. He took another offer first and it fell through, then we negotiated and agreed with a 180k sell price and 8K for repairs paid by the seller.

How did you finance this deal?

Regular Financing, 30yr 3.5%

How did you add value to the deal?

Refinished the original flooring.

Oh just saw this Peter. Can you post in advance the next time? I would love to join.

my real question is where are you getting these deals? can you hook me up :) 

Hi.

I just got the sewer inspection report back and it doesn’t look good, but maybe it is something ok and I got worried.

Would love some opinions and recommendations on what to do, I have a inspection contingency but it is a great deal.

Ask for sewer replacement?

The house is from 1915 recently remodeled, duplex in saint louis.

Sewer lateral inspection

Performed a sewer lateral inspection starting at both soil stacks viewing towards the yard vent. The lateral is cast iron, PVC, and clay pipe. The PVC portion is in operable and serviceable condition. No damage, deformities, blockages or anything abnormal noted during the inspection. The cast iron portion has several areas where cracks are present. They areas are marked with tape on the basement floor and are in need of repair/ replacement. The scope of work should be performed by a licensed plumbing contractor. On one side, the cast iron has an obstruction. Cabling Recommend Could not inspect to the yard vent in the clay portion due to an obstruction. Recommend cabling the entire lateral and reinspect for damage in the clay and cast iron.

@Anthony Van Guyse

Hi Anthony.

I am from Bentonville, but investing out of state since the market here is really hot with a lot of new development going on.

It will be hard to find a good contractor around.

I actually saw your post on nextdoor and was going to send you that list lol.

What is driving you to invest in Bentonville?

@Darius Ogloza

Thanks for the suggestion.

The tax for the last 5 years was 350/year so under $30 a month.

I used 520 as my tax but I agree that seems low, i will make it higher since for me it is better to use the worst scenario always.

Thanks

View report

Hi.

I am a beginner investor and this would be my first deal.
This is a recently rehabbed duplex 3/2. Rents in the area are from 800 to 1200. 
Asking price is 175k and is just back on the market because the previous sale didn’t go through.

Not so worried on COC on my first deal, but would like to cash flow $100 per unit.

Let me know what you think.

Awesome! Thanks Kamil