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All Forum Posts by: Andrea Georger

Andrea Georger has started 2 posts and replied 5 times.

Hello, 

My grandmother recently passed away.  She owned a duplex, which she resided in the bottom of. She had a nightmare tenant in the upstairs portion that took two years to evict.  He was finally evicted in January 2023.  When he left, he abandoned a pick up truck that did not pass inspection, a motorcycle, and some other things of low value.   My uncle is looking to sell the home now that my grandmother has passed. It will be difficult to sell with the abandoned truck, motorcycle and other junk. My uncle is under the impression that because they’re in New York City jurisdiction that they need to hold on to the truck and motorcycle for 7 years for him to have an opportunity to claim it or they will be sued. That seemed extreme to me, even for New York? Does anyone have experience with this? 


Quote from @Account Closed:

Hi Andrea! Great question & super excited for you guys to get started. I'm also in the area so more than happy to help y'all with any questions!

For this one in particular, I typically have my agent walk it initially (she's an experienced house flipper & does a solid job getting an estimate). If it's within my tolerance level for what I had budgeted for the renovation, say $10k, I'll bring a GC out to write up an SOW and use that as my driver for the offer. Once accepted, get the inspector in and flip it back to your GC, agent to be sure everything's accounted for in the budget and everyone is on the same page. If all checks out, y'all should close on it and get to work!

Thanks so much Kegan!  So glad to have someone nearby to bounce questions off of.  Great idea about the SOW. I think we are going to pass on this property but I’m definitely going to do that for our next one!
Quote from @Account Closed:

Yes, 100% have a professional that you trust walk through. 

If you are new to investing in real estate, I personally don't think buying a multifamily property in disrepair is the best way to start. MF values are still rather overpriced. Just my take. I'd focus on getting a couple turn key SFRs in the midwest (Kansas City MO) and learning how the game works dealing with one tenant. 

I am an acquisitions analyst at a real estate investment advisory firm. We provide clients with property financial models, set them up with property managers (who we have used for years), help them offer through our agent (who we have used for years), and have an asset manager who manages the property manager for you (who we have worked with for years).

If you'd be interested in hearing more about this, I am happy to chat. Most of my clients are first-time investors. Shoot me a DM!


Thanks so much for the good advice. The location is so great for a medium term rental.  But the house is gutted, structural issues and 1920s construction.  I am thinking that this will be too much to take on for our first property.  I think we are going to try and stay within an hour from home for our first property.  Will reach out if we decide to venture further!

Quote from @Bruce Woodruff:

No point in wasting everyone's time. Yes, hire a GC and pay him to develop a SOW and budget for you. Even a quick walk-through will get you pretty close, usually within $10-20k at least.... 

Then you make your offer. After you get accepted then have a Home Inspector go through and use this as your way out if needed. This way you have 2 sets of experienced eyes looking at your property.


 That makes a lot of sense!  Appreciate your input.

Hello everyone!  My husband and I are total newbies, but eager to get started on our real estate investing journey.  We came across a multifamily property near a large hospital near where we live in Winston Salem.  Its an on market property we found on redfin.  Looks like a major fixer upper.  When you go to see a property initially do you bring a contractor with you to get an idea of costs/structural issues etc.?  If so do you pay for this service?  Or do you do a quick walkthrough yourself first, make an offer and then back out after home inspection if major issue found and not what you wanted?  Any thoughts you have are greatly appreciated.  (Link to property below)

https://redf.in/932PKY