All Forum Posts by: Amanda Rose

Obviously "saving money" should be a small part. Thats such left quadrant thinking.

Im talking scaling up. Investor networking.raising funds. Maybe subject to.... Ive read 8 books. Listened to almost all the podcasts. Now i want to hear real world examples. Im intelligent enough to know saving money will not get us to the goal we have. But thanks

wow. Save money? Never thought of that. So you suggest we use all our own money to finance deals? That means our next property will come in about 30 years. No thanks. Thinking bigger and like an financially educated investor.

We gound our first property that has a good chance of closing. It was a bit high in what we could leverage funds for and after we close, our options will be limited. Can the bigger pockets folks please give us some idea and tips to keep the ball rolling? I feel like we might stall out after this deal is finalized.

@rebecca holmes, thank you for the suggestion. Its also nice to hear from someone close to our area! This building is zoned office/residential. Do you feel this would add value or take value away? 

We probably are going private money. Banks here are not very investor friendly. Can get 7% with buy down option to 5.5%. 30 yr fixed.

thats what we thought sam. Its tough because we are in a smaller city (50-75k people) and the best i can find for comps is a larger city (madison,wi) which is a super hot market. We are about 30 minutes from madison. Also one other thing i forgot to mention is this property is dual zoned office/residential so i dont know if that will add any value or not. Every one we talk to says we got a great deal, im just looking ahead to refinance so we can repay our line of credit.

thats what we thought sam. Its tough because we are in a smaller city (50-75k people) and the best i can find for comps is a larger city (madison,wi) which is a super hot market. We are about 30 minutes from madison. Also one other thing i forgot to mention is this property is dual zoned office/residential so i dont know if that will add any value or not. Every one we talk to says we got a great deal, im just looking ahead to refinance so we can repay our line of credit.

Good afternoon bigger pockets. This is our first post! 

My question is this....

We are under contract on a 3 unit. It is in a neighborhood of single family and duplexes. There hasnt been a 3 unit sold in our city for years. I cant find anything to comp to. Will the appraiser really value it based on the single family and duplexes? That seems like it will be way undervalued. All of the lenders in the area say they are shocked at how low of a price we got the contract for. The building is in great shape. New roof,new windows, new carpet. The vacant units are move in ready. Gross rents on the unit will be in the $2500 range. Im just looking for some insight into how the pro's in here would value this property. 

Thanks

Adam and amanda