All Forum Posts by: Daniel J.

@Alejandro Perez If they haven’t gotten any offers why do you think you would be successful at getting someone to “buy” it through one means or another? 

Talk to @Chris Matson

@Account Closed

I sent you a pm as I am looking for properties in Conroe as well.

How did you get in contact with all these owners?

Thanks,

Daniel 

@Thomas T Huckabee Based on my experience with taxes around here they will go up to being assed at purchase price in a year or two so make sure that is factored in. Have you run your own numbers in regards to capex and maint. Etc? I have seen that property as well. As soon as you start factoring upkeep on 4 different structures, taxes, insurance etc, it adds up quickly. I’m over in Conroe and I’m not a huge fan of the porter area, but that’s just me.

@Austin Stowell Or you can get out there and lobby for lower taxes. That’s kinda the point of this whole thing.

@Hadar Orkibi Thanks! That makes me feel better about my numbers then! It would be my plan to update all big things if possible to get them in good working order and to keep my NOI higher down the line. I would certainly rather account for more and not need it, than less and need more!

I am looking at a deal just north of Houston that is 2 4-plexs on 1 lot, and I wanted to double check on cap ex and maintainence numbers.

All city utilities, flat roofs, built in 1966, updates have been done, some new ac’s. My plan would be to replace any large capital items upon purchase.

I am using $6000 annually for cap ex, and $3000 for maitenance. Rents are $6000 a month. 

Does that sound reasonable? More? I’m not entirely sure of all the parts to consider with cost for this size of building. 

Thanks!

@Hadar Orkibi It does make you wonder! From what I know I think they are trying to keep out all but the most serious of buyers, but due to the market I think they would have already had it sold by now if they were more flexible.

@Hadar Orkibi Ok, thanks!

@Paul Choi Yea I am looking into that, not cheap heh!

@Andrew Syrios Ok, thanks!

@Paul Smythe Thanks!

Y’all have given me the boost I needed to at least look into my other options and see what we can make happen!

So here’s another aspect that’s concerning. They want to do 30 days to close, 3 day option period (no option fee though) and 20k in earnest money. Is that stuff as a newbie that should concern me? Obviously less room to figure things out.

@Hadar Orkibi I’m using a commercial mortgage broker in the Houston area. It’s 10 units, I thought I said that, but I guess I forgot to put that in there whoops!

@Andrew Syrios That was my thought, I guess I wasn’t sure how to go about that well, “last minute” and not specifically knowing of a private lender.