All Forum Posts by: Alex Breuer

Well looks like i got a deal!

If i want to borrow money against the property how do they determine that amount?

Hi,

I recently bought my first commercial property from a buddy and looking for some opinions.

Its a 4 space office building that meets the states requirements (MN) for auto dealers to hold there license and do buisness.

I bought the building from him for 50,000 dollars cash 😂 (its an hour away from twin cities thats why so cheap)

The offices lease for 400.00 dollars each x4 . the people who lease them jump on it fast due to most of them paying doube to 3x that price in the twin cities.

Utilities are 150.00 month and theres not many other expenses besides taxes but they are cheap.

How is the property valued if i resell it?

What do you think of this deal?

Can i cash out money if so how do they decide how much?

I guess in 50 months ill have my money back.

I also qualify to use an office and get my auto dealers license.

Thanks in advance for your thoughts/answers

I would reinvest the money if i sell it. But as for finding another condo/property for 80k around here ..... very unlikely. I was just in the right place at the right time to get it for that price

Im looking for advice on what to do?

I bought a condo for 80k in Dec.2018.

My original plan was to rent it out. (after calculations ill cash flow 500.00 monthly)

Ive been working on the property and i had a visitor the other day.

It was a R.E. agent asking to see the unit..i said check it out!

Long story short she came to me with an offer for 155,000.

I will have 10/12k in the renovation. (90k total)

Should i sell within 1 year and take the check or cash flow 500 per month?

How much will i expect to pay in taxes?

Will waiting until after 1 year significantly reduce the tax burden?

Thanks in advance.

I currently have an fha loan on a home i bought 8 years ago. I moved out, it turned into a rental unit and im currently looking to buy a home (for myself) .

Can i refinance the mortgage into conventional financing and then im free to buy fha again ? (Want lower down payment).

Also can i get a conventional loan for a home im going to live in for less than the 20% i normally pay ?

Thanks for your time!

on the new plumbing code the waste pipe on the bottom side of a tee has to be 2"

The side inlet of the tee that goes to the trap can be 11/2 

And the upper part of the tee (the vent ) can be 11/2

Inspectors may "grandfather" things in at times But mpls/st.paul tend to be more strict 

Im a master plumber in Mn and i also have my masters in mpls and st.paul .

You can message me plumbing questions and i can help you out.

When it comes to doing plumbing for people i am typically overwelmed with work....

No guarantees on that end.

My mortgage broker gets me unlimited investment properties for 15%down

Sharif Almahdy at Edge Finance