All Forum Posts by: Costa Deir

So, after a little more digging, I found out that all utilities except electric are included in the income apartments. So, cashflow while living there would be negative (including the monthly amount for repairs and vacancies). However, I still believe it to be a good deal because we are able to live there cheaply, and when we move out the cashflow will be great. 

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Great looking property listed at 159,500. Would be moving my family of 5 into the lower 4 bed 2 bath area, and renting out two upper apartments. A 2bd1ba and a 1bd1ba. Rents would average out to 800/unit upstairs. I figure that while we are living in it our cash flow would be around -$100/mo, if we’re able to get it around $145k. The bottom unit would rent between 1200-1400/month once we move out. Leaving us with close to 1000/mo cash flow after property management fees. Thoughts?

@Wayne Brooks ok gotcha. Thanks!

@Wayne Brooks https://drive.google.com/open?id=1UW-RkmHcN3sLlRemy0czNA5vc22AMydU

@Wayne Brooks let me see if I can post a copy. She said she has no other offers, but it seems that it just makes it so they don’t only have owner occupant offers....

My wife and I found a property that had a Freddie Mac ‘20 day first look initiative’, where only those who intend to make the property their primary residence can make offer within the first 20 days - no investors. After we made our offer and showed proof of funds, we were then sent another document to sign that was titled ‘21 Day Marketing Period Offer Form’. I was explained to by the agent, and it sounds like, this next form ultimately wipes out the “First Look” advantage to non-investors. Basically, the seller is only accepting “highest and best” and will review on Day 21, which will put them into the space where investors can begin bidding. Does anyone have more experience with these two clauses, or can you possibly explain it in a way that makes sense? Thanks for the help!

@Paul DeSilva interested in what you ran you numbers/comps at before you purchased. Congrats, btw!

Great response Spencer Hilligoss . As many have stated, it sounds like we need to start with goals. Look at all properties (sf & mf), especially when just starting out. The extra practice analyzing properties will help!

@Fred Weinkauff is this place still available? I see it's been 10 months

Interested. Any way that you can send info on contractor bids etc... [email protected]

Thanks