All Forum Posts by: Bob Mastroianni

1,400 sq ft (approx) Rancher

3BR 1 BA

Hardwood floors throughout

Electric Baseboard Heat

Fix & Flip for Profit OR Buy & Hold for Cashflow.

Available for a fast cash closing!

Deal Analysis - Fix & Flip

After Repair Value - $165,000

Asking Price - $75,000

Estimated Repairs - $35,000

Potential Profit - $55,000

Deal Analysis - Buy & Hold

Asking Price - $75,000

Potential Rent - $1,500/mo

Contact me Directly: 856-371-3922

Hi @Jp Kilduff Are these properties still available?

I've invested mostly in Philadelphia until the last year or so. I'm fairly new to the South Jersey markets as far as investing goes, but I've lived in South Jersey for about 10 years now. 

Thanks for passing this info on @Account Closed I have properties in Deptford, West Deptford & Glassboro. I definitely agree with your assessment of those areas. 

Hi @Account Closed Please send me the info about financing (price you are looking for, down payment, financing terms, etc... ) and any info about the current condition of the property (repairs needed, structural engineering report, etc...). I definitely have interest in seeing this property & analyzing the deal. Also, have you estimated the ARV of the property?

I use erentpayment.com it's a great site. They make it easy for you & for your tenant. The cost is only $3 per transaction, you can pay the fee, have the tenant pay the fee or split the fee. They also offer a service where they will report the tenants payments to the credit bureau's. This is a great incentive for your tenants to pay & tell them that you will help them build their credit.

I'm just seeing this post for the 1st time. How are you guys making our with The Miracle Morning? Are you still regularly doing your SAVERS? @Sabrina Shaw @Trevon Peracca @Lacee Beitler

I started doing it about 5 months ago and it is now a regular part of my life. I wrote this blog post about it last week, check it out. Hopefully it will help with your progress.

https://www.biggerpockets.com/blogs/8486/51059-the...

Hey @Jason Hirko Thanks for the response. Good tips there, I appreciate them. In your design, are you trying to make sure that each office is the same size? Since we're tearing the current space down & starting over, it will be a blank canvas, so I want to make the best use of the space.

I like your idea about the switchboard for phone lines & the reception area. 

Also, how are you going to give them separate addresses? Will you use Suite numbers or were you planning to do something else?

I am working on a rehab of a mixed-use property & looking for some advice about the office section of the property. The property has a unit that would be required to remain as commercial (first floor) and the 2nd floor will be apartments. I am considering turning the 1st floor into a shared office facility, one where different businesses can each rent office space. I realize that there are certain things that I will need to offer them in order to make the facility enticing to business owners. I'm looking for advice about what those things specifically would be. Also, any tips on how to find & keep the best tenants.  

@Gildardo M. Congrats on taking the first steps into investing. Based on the info that you posted there seem to be a few things that you left out. Are you planning to live in one unit & rent out the other or are you looking to rent out both units? If you're looking to rent out 1 unit & live in the other, you will take different things into consideration compared to renting both units out for profit.

If you're renting both units out for profit, make sure you include a repairs/maintainance expense & a reserve amount for capital expenditures. You're numbers seem pretty tight, so you don't want to have one repair expense run you into negative numbers. Also, it's best to find out what the vacany rate is in your area. If you go one month without a tenant that you need to know how much that is going to cost you. 

If it seems too easy, it might not be a great deal. 

Good luck. There are some great article's on BP that break down the best way to analyze multi's.