All Forum Posts by: Allen Lopez

@Brandon Johnson It’s a for sale by owner

Im curious what do you guys use to determine the market value of a multifamily home? Like for a single family property I typically use Zillow to get an idea of what the properties around that area are going for. What do you use if it’s an apartment complex or a quadplex?

@Jay Hinrichs Yeah I agree with what you said, however, it should be the seller that pays that not the buyer

So I found an apartment complex in Baton Rouge la. 4 units, ROI is 12%. But the realtor is telling me this: “Also, I forgot to mention that if you will be required to pay one time fees for title transfers this fee will be equal to about 2% of the Purchase Price. “ I have never heard of this. I know that I have to pay for the tittle transfer never heard of it being 2% of purchase price. Is this because it’s a multi family home?

@Michael Ablan Cash flow. However, I am not a fan of paying $250/month in HOA fees. Since I can sale it and do a 1031 exchange on it, that would allow me to get more free cash that I can then Reinvest

@Scott Nidell I was typing it from my phone during a meeting so spelling wasn’t my primary concern. Money is.

@Bob B. Yes

@Bob B. So my plan was to sell the condo, and buy a house. It would realquiles an additional $100k but I would be able to rent it for $1500-2000/month. Net would be around $1200-1500 per month.

So in 2016 I bought a property for $71k. Imidiately tented it out for $850 a moth. After all expenses I make $500 profit. The property is now valued at $98k. I also have a two year contract with the an amazing tenant that keep the place is perfect conditions, pays me online via transfer (no need for a property manager). Like I said perfect tenant. Anyways, I posted the unit for sale for $103k, willing to negotiate, and it’s been on the market for a month. Many views, but mostly people who want it without the tenant. Average rent goes around $950, so Iam giving tenant a break. plus I paId cash so I sont have a morgage. Questions: 1)Would you sell or keep It? 2) how long should I waIt If It doesnt sell? i am thinkIng that If It doean’t sell wIth In 60 days (30 dats from now), I wIll take It off the marIet and Iust keep It. 3) any additional thoughts?

So there’s a an opportunity to buy and rent out a house in a low middle class area. The rent there goes around $1000/month. The house is being sold as a fixer upper for $41k. It looks like to fix it, it would required approximately $20-25k. Market value for properties around that area is around $125k+- 5k. It was flooded last year. I don’t know if this would be a good investment to rent (tenants plus flood) or a good property to fix up. Additionally, I don’t have any experience with fixer uppers, but I do have a very good handy man that can do it all. With flooded homes do I need permits, inspections, etc or would just replacing the damaged dry wall, and flooring (fixing the damages) work? Do the numbers look good to you guys? What would you guys look for when dealing with a flood property?