All Forum Posts by: Brian N.

James Vermillion Thanks for the welcome James. Sorry to hear about the foot. Been there done that....not fun.

Sam Craven I was unaware of this. Thanks for the invite. I have prior obligations on that date but am going to try to change those plans as I would like to meet everyone. So you have a definitive location yet?

Corey Dutton Agreed. I have been on several and this is by far the best community I have found. Thanks for the note.

Carl Schmitt Seller pays water/trash only. They are asking $169,000.

@Aaron Junck I verfied the tax information. The seller currently pays for water/trash only. This was figured into the NOI. I completely agree on no surprises and wanted to see what others had as far as value to see if they matched to the figure I had in mind. Thanks for the response.

I am currently negotiating a deal on 6 plex. I would truly appreciate some opinions on what price range you seasoned veterans would be looking at on this property to make it worth my while from an investment standpoint.

6 plex completely rehabbed in 2007 from ground up.
100% occupancy.
GOI: $35,040
NOI: $21,400
*note* all expenses (taxes, insurance, utilities, maintenance, etc) were taken from sellers ledger. I increased them in my calculations to make sure I was covered.

I have the operating report for the previous 3 years and the numbers have not deviated much at all from the numbers stated above.

Also, what are your thoughts on negotiating the seller to carry a portion of the loan to minimize out of pocket expense as far as a down payment?

Financing either 20 or 30 years.

All thoughts/advice are much appreciated.

@Derrick Moore I have that in my possession. The numbers for the last 3 years have not deviated much at all.

@William Bannister Thanks for the welcome. Looking forward to being more active on BP.

@Brandon Turner Thanks for the note. I have not made the leap to the commercial side yet either but always intriguing. I have followed you for awhile on realestateinyourtwenties site. I have always enjoyed your overall views and ideas on real estate.

@Travis Nevill Thanks for the note.

Appreciate the welcomes. I'm looking forward to the interaction.

Glad you asked about the current deal I'm working on. It gives me an opportunity to find out if I've learned anything. I would love to hear what your initial offer and max offer would be on this property and see how my numbers compare.

6 plex completely rehabbed in 2007.
100% occupancy.
GOI: $35,000
NOI: $21,400
*note* all expenses (taxes, insurance, utilities, maintenance, etc) were taken from sellers ledger. I increased them in my calculations to make sure I was covered.
Financing either 20 or 30 years.

All thoughts are appreciated.

Hello BP community. I have spent alot of time on here trying to gain as much knowledge as possible from all the seasoned investors that contribute to this site.

I am in the Houston, TX market and interested in commercial real estate and multifamily units. I am finally in a position where I can take the next step in REI. I have been educating myself thru classes and books for a few years and can honestly say I have probably learned just as much in just a few months of lurking around on this site.

I am currently trying to close my first multifamily deal and hope to gain some guidance along the way from all you experienced investors.