All Forum Posts by: Amari Walton

This would actually be my third deal. It’s just complicated due to what I stated above. I did both on my own the first time & just rolled with the punches and figured it out. With this I’m all over the place and I have called many developers. I’ve recieved a few responses. Can anyone give me an example of what an agreement looks like with multiple parcels?

Thank you @Sam Shueh and @Stanley Bronstein for the advice. Is that my best and only option? Also, would the be a buyer perhaps? Have either of you dealt with a similar situation? Is there any other routes I can take with this or advice/ideas to offer?

I'm in such a bind and need some serious help. Please for anyone out there who has the experience and expertise to give me an idea or direction to go with my current situation. So here's the scenario: Multi-family property, 3 Parcels, each parcel has 20-40 units, 2.3 Acres. In my head not knowing where to start as far as numbers or anything for that matter, this is something a developer would take on, right? I'm fairly new and its overwhelming because I know this comes down to figures and the asking price is significant even with the potential, growth, and cash flow this project has. Getting this to the right team with the vision behind what is ahead can be major for all parties involved. Although, you hear this all the time, "The numbers have to make sense." So please someone who has experience with land, multifamily, the whole bit. Please inform me, educate me, I'm ready for all you have to offer. HELP!!!

How do you judge the ARV on a fourplex (multi family)? It’s been a struggle because I have an offer ready to present to seller. Although, the comps are all over the place. If the property is attached to a lot that is a good size and the property is 2,030 sqft sitting on 0.44 acres; are you only going by the sqft of the multifamily or the lot itself? The fourplex is 1,015 for 1st and 2nd floor and there’s land all in front big enough for a parking garage or another fourplex if chosen to do so... the MLS is even throwing me off. Not sure what to do on this one. Can someone give me feedback or address how to tackle this one?!!

Oh wow, thank you! I already completed my taxes you think I can still give it a try. I did them myself through TurboTax because I was doubtful.

I did not

So, last year I purchased a course/package from Elite Legacy Education. It’s tax time and I wanted to know does anyone know if there’s an advantage to receive a greater return. You know receive at least some of what I spent. I believe if you have an LLC, you can, although I do not yet. Would I still qualify when doing my taxes to receive some of those funds back without an LLC?

Yes, my thought process is what is the takeaway for the end buyer. I'm looking at ROI % and making sure I have accurate comps to show them and what a 30 day ARV would look like. This just happened to be my first opportunity, I was trying to get ahold of a lady for a vacant property and the guy I called mentioned a house he had that he wanted to sell. I'm selling at one hell of a price due to the area. Meaning the end buyer would benefit more than myself which is okay. As long as I walk away with the knowledge and something in my pocket I'm happy. The end buyer can flip this property and make 30k or buy and hold and its below 90k. Possibly keep it for themselves if they want as an option.

Thank you for your response. Yes my exit plan and really my main goal was to sell to an investor. From what I have gathered from multiple individuals in Wells and/or Elko is that Wells is a ghost town. Nothing goes on out there, I mean the population is about 1,300. I've called churches and the one realtor office that is local there, husband and wife owned. From all the Information I've gathered with them, lets say when they list a house for sale it takes anywhere from 100-160+ days to sell. My mentor/coach states that could be there box and my goal was to sell to an investor. To be honest I'm 6 hours from the property and haven't been inside to take pictures. Although have received details and rapport from the homeowner which is all scrambled. So, I'm definitely going to make a trip down there and check things out for myself. This would actually be my first deal, so no definitely would not want to hold for any amount of time. I have another 4 months to close. It hasn't crossed my mind to rehab prior to selling. Once going to the property, prospecting, taking pictures and what not, I'm sure I'd have a better idea of what direction to take. Great idea to rent out, that hasn't crossed my mind yet actually. Still figuring options out. Thanks for all the questions, never thought or considered some options or idea's you brought up.

Hello, Im brand spankin new to biggerpockets. I have been bit by the real estate bug and now theres no going back. With all the opportunities in this field to grow and prosper, I'm elated to say the least. Joining biggerpockets is great for the fact that I can converse with like minded individuals and exchange complicated scenarios. In addition, I happen to have one. Recently, I've been back and forth with a homeowner who happen to finally agree on a price to buy his home. The issue is that it is in Wells, NV. The population is about 1,300 and overall it is a small town Northeast of Nevada in Elko County. It has been somewhat of a challenge because ideally, my goal was/is to find another investor to purchase. This is a beautiful log cabin home with navy pine, natural wood, rec room with hot tub, 1 car garage detached. There has been an addition to bedrooms, 2/1, 1,464 sqft with a empty lot next to the home decent sized, great for an RV that will be sold with the home. Help, any and all advice and suggestions im willing to take.