All Forum Posts by: Daniel J.

I am analyzing a deal for 2 duplex's on 1 lot. My number for CapEx in general is $260 between my quotes I've gathered plus others feedback elsewhere on BP. Should I therefore use $520 to start out with since I have 2 buildings or can it be less? Thanks! The property is located in the Houston, Texas area.

@Mike Dymski Thanks!

@Bart H. Thanks!

@David Carte Thanks!

@Takeo Kingi @Cameron Tope How would y'all recommend doing both? Just seeing if they have a part time position that would fit my schedule?

I am wondering if I should stick with my current restaurant manager job while I get into small multi family investments or if it would be worthwhile to pursue a job in property management or another aspect of the business?

I have a good job with a flexible schedule and good pay, but I also see the value in being involved in RE, especially property management, in my day job as well. I have no experience to speak of in PM, though I do manage 70-90 employees and engage with guests all day. I have a good amount of financial knowledge and handle all of our in store financials and payroll. It would be a challenge to take much of a pay cut, and with my lack of experience I'm not sure I would be able to command the same level of salary  I do now. I'm not sure a PM company would count my year's worth of reading BP and listening to almost all of the podcasts as much experience lol. If it isn't pertitnant I am located in the North Houston, Texas area in Conroe.

Thanks!

I am looking at a triplex in Texas and am trying to figure out all the documents I need to see from the sellers. I am going to ask for all leases, maintenance records for the last 2 years, the last 12 months revenues and expenses, rent rolls, and estoppel agreements once under contract. Am I missing anything? Should I get all of these leading up to the offer or any after with a contingency? 

I couldn't find another article or forum post that was recent that covered everything, if so you can point me there, thanks!

Thanks! Is there any questions you would ask other than the basic stuff such as rates and terms, etc?

@Andrew Postell So would you recommend going to banks directly, or are independent mortgage brokers good to use as well?

@Andrew Postell Good to know, thanks! Do you think it's worth it to find a local lender, or does it matter?

@Andrew Postell I have seen mixed stories, so I figured better safe than sorry. Your experience with your lenders is they don't really care?