All Forum Posts by: Jonathan Plant

There is a local REI. Connect with me to find out more.

@Randy Gutierrez, @Sheena R Roth, @Brian G., @Regina Story

Any update on using Stessa? I'm in the process of building my portfolio into the program but am concerned on it being a turn-key property accounting software. How is the bank linking? Thanks for your responses.

 @Laura Newton how do you like Digb thus far? Does it provide easy to understand information? How is it on tracking properties? Did you use it for tax filing?

I own a property that has a triplex and a duplex on it. The bank only sees the property as a triplex. I rent 3 units out, have 1 AirBnb, and live in the last. My personal use portion is 63% of the total sq' of all 5 units. Should I include the portion I contribute as rent for the ROI calculation?

@Pope Lake - have you decided on the material you would like to use?

I’m thinking of using wood logs here in Alaska for a multi unit build. With an R-1 per inch thickness, tenants will be responsible for their heat. Brick is ideal.

I have 2 brick buildings in Arkansas and love the lack of required maintenance. The build cost is my concern with about $90/sq’ estimate for bare bones. Have not checked the cost in Alaska though. Just assuming it’s really high.

@Sam LLoyd sorry, just came across this response. Message me if still interested.

@Ronald Rohde thank you for the reply. Once we find a deal with the returns desired, we will just JV the deal.

@Taylor L. Thank you Taylor for your reply. I will attempt the joint venture…whenever we can find a deal…

@Dmitriy Fomichenko thank you. I’m transitioning $ into an employer 401(k) in hopes to borrow from Dr. ME. Ha! Are you familiar with this process?

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Higden.

Purchase price: $275,000
Cash invested: $48,000

4 Plex built in 2010. Brick and vinyl siding exterior with a steel roof. Love it! Great tenants and cashflows medium.

What made you interested in investing in this type of deal?

The build criteria, location, and doubled my previous purchase.

How did you find this deal and how did you negotiate it?

Realtor.com. Not much negotiation on this one. Bought it for a few thousand less than asking price.

How did you finance this deal?

Local bank with a Commercial 15% down loan> love these! Non-Recourse!!!

How did you add value to the deal?

Made some minor repairs and made all rents equal to bedroom quantity.

What was the outcome?

Better Tenants! Happy Tenants! They see continual care on the property from my manager!

Lessons learned? Challenges?

Relying on the realtor and home inspector to be thorough. Realtor was not honest about the septic company he hired to test the system. Both systems did not function properly and cost me $ in about 2 months after purchase. Home Inspector did not find that one of the units operated in emergency heat mode instead of normal operation.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I would not recommend them.