All Forum Posts by: Amit Shukla

Hello

I need some help in analyzing a deal. In the area where I am, there's hardly ever a multifamily "deal". So when I saw this, I wanted to look from other pros eyes as to why this didn't make sense for them. In other words, I want to see how a lead is a good deal or not.

Below are the details. I started using this calculator but couldn't fill out all the info. http://www.masterpassiveincome.com/resources/inves...

Details:

3 four plex. Each fourplex has 8 bedrooms and 4 bathrooms (2/1 each). Laminate wood floors, vinyl bathroom, carpet in both bedrooms. Washer & Dryer Hook-ups inside each unit. Appliances: Stove, Refrigerator and Dishwasher. 

Building 1 Rents $695, $733, $750, $815 

Building 2 Rents $660, $695, $825, $850 

Building 3 Rents $750, $825, $825, $850

Price - $296K each. 888K total. 

Year - 1975. 

Sq. ft. - 3400 each fourplex.

I'm planning to put 25% and finance the rest (traditional). The parts I don't have the estimate for are:

1. How much do I put for property management? I don't intend to manage it myself.

2. How much do I put for repairs per month? 5% of the rent? 

3. What other expenses should I consider that are big with multi-family?

4. What's the cash on cash should I be looking for?

Thank you for your help!

Originally posted by @Jesse Mao:

I am an agent and investor. Houston area MLS just added 2 new fields "Property flooded by Harvey" and "Home flooded by Harvey" in listing. I have updated these 2 columns for my listings. But most real estate agents haven't learned it yet. These fields are optional so some may never get filled if the house was flooded.

I expect many houses will be foreclosed by bank or county. When they become REO, banks and counties are not required by Texas Property Code to disclose any information such as flooded or not.

You really need to know the neighborhood or even the street before you buy.

 Is that in the Realtor view cos when I log in as a consumer, I don't see those options on HAR.com

Thank you guys! Both the links shows great info. It will be very helpful in finding properties that are not affected by hurricanes.

Hello Bigger Pocketers!

Is there a map to show what areas got affected due to Harvey and which areas did not? If not map, is there way to search by city, zip code or county? 

There are many houses on sale and instead of making the realtor research all the houses, I would like to filter the ones that are affected by flood. 

Thank you!

@pragya singh Did you find anyone yet? If you could share that would be great. Also, read your goals. Am impressed. I live in Beaverton, work for Nike and starting out in RE. My wife and I would love to sit with you and chat about your experience and gain from it. Please let me know if you would have time for f2f.