All Forum Posts by: Bernard Sanga

@Mary Mitchell

Thank you! I think the tax returns should give me a lot of info!

Newbie here. Just got a deal under contract and need help with due diligence. Property was self managed and does not have operating statement available. What other documents can I ask for besides leases? Is it normal to ask for 1099s for a 4 unit like this? Is there anything else I am missing?

Also, I am ordering property inspection in 2 days. Its a block construction 1985 building in FL. Is there anything specific I should order with inspection? I plan to do 4 point, wind mitigation and a plumber scope the sewer line. Any other ideas?

Any input will be much appreciated!

Thanks so much!

Hi BP!

First deal! I just got an offer accepted and I am now finalizing the contract. Deal came off MLS. I just want to share and maybe get some feedback on the numbers and what to do next.

Its a quad plex. Purchase price is 288k. Current gross monthly income is 3160. Its currently an 8 cap with 12% cash on cash.

I ran my numbers with 5% vacancy, 10% Property management, 10% maintenance and 5% capex.

Is there anything I am missing here?

Also, what are important things to look at during due diligence besides the usual property inspection, get current leases of existing tenants, get financials?

Thanks in advance everybody!

Hi, I am looking for a rockstar real estate agent/ broker in Birmingham AL. I am looking for small multifamily deals in the area.

Have a great rest of the weekend everybody!

Anybody with an H1b who started REI? What are your restrictions? Can you do a BRRRR? Or just turnkeys? Thanks in advance!

@Greg Scully

Thanks for all the great ideas. I will definitely look into that

@Ethan Brown

Hi Ethan, I am looking to do a deal somewhere closer to Sarasota for now. Thanks for reaching out!

@Maggie Medal Hi Maggie! I’d like to stay local or somewhere close - maybe Tampa/ St pete and orlando. Goodluck on your deal hunt!

@Andrew Varney I’m gonna check it out! Thank you!

@Taylor L.

Thank you! I’m doing pretty good with that. I am able to read 1-2 books per week and like 10-15 podcast episodes. I want to make the jump soon! Goal is to buy first property by end of year!