All Forum Posts by: Dannie Barlow

Working on buying my first multifamily. It's an 8-plex in a b- c neighborhood. I know the area pretty good. 7 units are already rented for about $600 each, 8th unit needs a total rehab. Price is $290k. There's a lot of maintenance that has been put off, owner lives over 1000 miles away. Property management is lacking, all but 1 unit is on a month to month lease because the old lease has expired. They are accepting partial rent payments and not evicting in a timely manner. It will be a though process to get it back operating correctly. Any tips or ideas going into this?

http://www.loopnet.com/Listing/19116750/410-West-Azalea-Avenue-Foley-AL/

looking to get my first apartment complex? What's your everyone's opinion on this building and asking price? The price is high....what would you feel comfortable paying?

I did a separate application from smartmove. 

I just recently used smartmove. What you should get will be the background, eviction,  and criminal info. I had them fill out application with the other info on it. Good luck.

I own about 15 acres and wanting to build a mobile home park. Just wanting to do park owned homes and slowly add home after home. I currently have 4sfh rented and have been thinking of this for some time now. Any tips on the right direction to start?

my rentals are in Ridgeland and Brandon. I stay away from the Jackson area. 

I have a recent flip that is about to close. I should have a net profit of about $24000. My question is should I invest that in my current buy and hold properties( both properties are currently positive cash flowing monthly each) or should I use that money to buy another buy and hold? 

No loan cost, I have include an estimate of my taxes and all in the $82,000 amount.  I did a lot of the work myself. There were a lot of long evenings and weekends spent there.

$55,000-house

$8500-foundation repair

$18,500-remodel and repairs

$82,000-total Investment

$8000- Est Realtor fee and closing cost

$90,000- total Investment

$124,900- house listed price

$34,000- potential profit