All Forum Posts by: Chris Svendsen

You should be able to match in the future if needed.  All their paints are nice.  Good luck with it all.

I have no idea about this but curious to see what others have to say.  Why did you refuse? 

I would start one.  Very simple and cheap, no reason not too.  Single ownership llc makes easy for taxes too. 

Well thankfully get a little of cost matched.  One thing I do is use quality paints from sherwin Williams, in flat or matte finishes.  They great at color matching and those finishes hide imperfections well and touch up great.  Food for thought for next time.  My father in law sold paint for them for 30 plus years so had some great advice on making life easier when came to what to use for paint.  There Promar 400 line a good product and decent price. Set up an business account with them and work out a discount for purchases too.  Hopefully next tenant be no issues.

agree with @Taylor L have your money lined up so can make offer when find right property.  If financing get the preappproval letter and then put in offer.  If doing cash offers better have it available.  I put in 2 cash offers tonight and have to send proof of funds with offer or nobody take your offer.

I have hard time understanding where tbe 1031 exchange comes in as if your not making any money what are you going to exchange.  If,you put 20k in cash to purchase and walking with 17k I dont think you be taxed on that.  I would sell and take lose as a learning experience.  Also, I would not ask realtor to lower rate.  If they offer I would take it, but they are doing a service for me and expect them to be paid.  My realtors get drug all over the area, sent into all kinds of nasty places to get there input.  They deserve every penny they get as I expect them to find me deals.  I pay for that by offering on houses at a point that makes sense for me and the seller so they can pay the commissions.  There should be enough to go around for everyone.  Just my 2 cents.

I would just paint and be done with it. Keep deposit for damages.  Anything more than that just to much headache.  Its just paint. an afternoon and be all fixed.  At least she out of your hair now.  If already gave deposit back then I wouldn't even bother with trying to get money, I would juzt repaint and move on with life.

find someone who has experience with these things and get there help.  It may be cheap but if you have to spend 350k to make it liviable and safe then you way over your head.  

I love the 2nd photo of house, I would make that the primary photo.  Remove the 3rd photo of yard, just not its best side, same with 1st photo, not best angel.  Inside, clean out all the clutter and get those big chairs re-positioned or out of photos.  They just seem to detract from the unit.  Maybe look at other listings for ideas on how to stage it to make look best.  If possible to remove all furnishings might be best in small space.  Overall place looks nice but I think people may have a hard time looking past the furnishings and personal items in place. Heck, when selling homes people cannot see past paint color. I would tie back curtains too to highlight the beautiful windows too.  For area price seems good.  I would get better photos then if after 2 weeks still low interest maybe drop a little and see what happens.  Great place, sure someone will come soon. 

@Enrique Huerta thanks for the input. At $67,000 a unit the price is comparable to other student rental properties. An example I have a small single family home that Purchased for $75,000 with tenants covering all utilities. Cash flow is about $450 a month. my Cash on Cash on that deal is 24%, cap rate is just over 11% so yes, that is something I am considering. With the price of this unit and how building ran currently is not a great deal. Problem I have been struggling with is breaking even for a year will the returns be worth it afterwards. If can turn building around to way I plan then Cash flow be around $1200 a month, ROI will be around 22% and Cap Rate just over 11%.

All this may be a moot point, bank pulled financing today because is a multi unit dwelling even after I told them countless times it is such.  Now need to convert over to commercial financing with much higher rates and shorter amortization schedule which appears to be making deal a no go either way.  Have call out to another bank but waiting to hear back from them on what they can do.  Thanks for input, I like honest input from various sources to help me make a fully informed decision.