All Forum Posts by: Darius Falahkhir

Hi All,

I live in San Mateo county and I wanted to reach out and ask suggestions on any local CPAs/tax preparers that have real estate investment knowledge. Thanks everyone!

-Darius

Hi @Todd Dexheimer the property is located near white oak off blue rock rd and the 27.

@Henri Meli, my goal would be to buy and hold, increase the rents, and keep for cashflow. Hopefully increasing the rents would increase the value of the property as well. 

Can you explain what you mean when you talk about the cap rates compressing after my purchase?

@Alex Bekeza Yes! It is a local bank. 

Hi All,

I wanted to get your professional opinion on this property that I'm thinking about putting in an offer on. This quite possibly may be my first commercial property deal, and I'm just a bit nervous about pulling the trigger on it. Any comments or words of advice will be truly appreciated! 

Here is the info:

C-class property in a C-class location

seller will take 350k

11 units total: 10 units 1br/1bath , 1 unit 2/1

all 1br are occupied, 2br is vacant

$50/month for coin-op laundry

average rents for the 1br $455, 2br vacant but can rent for $550 

room to increase rent of 1br to $500-550, possible to increase 2br rent to $600-650

current monthly income $5150

tenants pay own electric 

landlord pays $70/month community electric

landlord pays water $450/month

insurance $170/month

loan: 5 year balloon, 20% down, 5.25%, 25 year amortization= $1677.89/month

NOI: $29,900

Annual taxes $9411

closing costs: ~$8000?

setting aside 5% vacancy, 5% cap ex, 5% repairs, 8% property mgmt leaving a monthly cashflow of $813.36 and 12.51% cash on cash return on investment.

What do you guys think?

What type of commercial loan structure can you suggest that may work well for this situation?

-Thanks!

Hey BP, 

I'm looking into multifamily properties in Cincinnati, Ohio and wanted to reach out to see if anyone can recommend a commercial lender that they have used in the past that had great terms and worked well for them? 

All the Best, 

Darius

Hi BP, 

I'm an out of state investor looking to expand my portfolio in Cincinnati, Ohio. I'm looking for suggestions on an investor friendly real estate agent who can help me find multifamily properties. Can anyone suggest a reputable agent that you've worked with in the past? 

Thanks, 

Darius 

What do you guys think of Milwaukee?

Can anyone recommend a reputable property management company in the Denver, Colorado area?

Hi all,

Just a quick update

please let me know what you think

Appraisal is in at 213k (versus the previous 180k)

and rehab is now quoted at 40k (versus the previous 60k)

thanks