All Forum Posts by: Bojan Rajkovic

@Ray J.

Thank you all for these and I'm finally closing on my first 4 unit in 2 weeks and organizing so that the transition is smooth.

@Rafael Norat

I thought the same that he wants me to back out. Rents are under fair market and you can build on the lot next to it another opportunity so I had luck on my side with this one. Seller sold by owner and took a looking to my background, story, family and after 2yrs of looking and losing to all cash bids, the stars aligned. We will see, thanks again.

@Rafael Norat

Yea my lender ordered it but it is not until next week. The lender hasn't heard anything back since what the appraiser said, whom my realtor sort of knew, was before the appraisal was even done but he shared all of that info privately. This is a residential loan and I believe they will look at comps vs the cap rate, NOI or ROE or some other metric. With that being said, there isn't other nearby comps (it's the only multi unit in this subdivision of single family homes that's sitting on 2 acres which is a lot of land for the area. )

Typically all the multi units around go for cash offers and don't require appraisals but ill see what the appraisal comes back at next week.

Thank you for the prompt response but we're all just as confused as to why this appraiser decided to share and ask about it so much.

Closing hopefully in 3 weeks on my first 4 unit building and I'm confident about the numbers, nice piece of land (2acres) in a residential area near SFHs and no other rental buildings nearby.

Recently received an update from my realtor that several appraisers are passing on the building and 1 in particular even called my realtor and shared information that he shouldn't have, such as: inquiring if there is a relation between myself and the seller, agreed numbers are strong but shared it will not appraise for what I'm paying and to reconsider me being in the deal and use the appraisal as a reason to get out of the deal...really odd and the realtor agreed.

My question is, why would appraisers turn down the 4 unit building and why would that particular appraiser share so much and then not be the one to do the job? Really just odd.

Can you care to share, or anyone with experience, what are the tax benefits and average RoR on investors into an existing storage facility? I have an opportunity available to invest 150k for 6% guaranteed, cost analysis and forecasting has all been provided but it is a new built out facility. Goal by the owners (2) is to sell it after yr 8-10. It's my first time investing in new storage facilities so what are questions to consider or expectations in terms of tax benefits, return, etc. TIA

Thank you for the recommendations and I will make sure to look at those options this weekend. Also, is it common due to covid for sellers to ask for an offer before you can schedule a showing? I'm seeing more of that now.

Hello Everyone, I'm new to the group and posting for the first time. I currently self manage 2 townhouses from out of state (located in Kalamazoo, MI but i live in Chicago) as well as a summer lakehouse that I just purchased for pleasure, but will begin to use for AirBnB/Vrbo next summer. I'm in the process of bidding and hopefully finally owning a multi-unit (4 unit) building in Northwest Indiana. 

I am familiar with calculations, financing, etc. given that I have been a financial advisor for over a decade, but what software, apps, websites do you recommend or prefer to keep track of expenses, income, etc.? 

Thank you in advance!

-Bojan