All Forum Posts by: Account Closed

I am closing on my first deal, since joining BP.  Congratulations. I got insurance yesterday. My local realtor (where I bought the duplex) gave me the name of an insurance company. you may try that.

Darrell

I love the responsiveness of the forum. I have listened to the podcasts starting at show 1. I am up to 103 and as another newbie, that is what I recommend. I heard (on a podcast) that central air is more desirable when you are showing the units for rent as window units scream "cheap property". I am currently in Maryland and you will only need the central air for part of the year. Also, as was mentioned earlier, you have more control of the temperature and therefore more control of your expenses.

I hope this newbie opinion helps.

Darrell

I am in Prince George's County MD and I am trying to create a Bigger Pockets meetup without the sales pitch. I have listened to the first 100 podcasts and have bought my first property since finding Bigger Pockets. I cannot seem to create an event in my area. Is there a Pro member who is willing to help me out to create an organic Bigger Pockets meetup near the Washington DC area?

Thanks,

Darrell

@Aaron K. thank you again for your advice. I am closing on my first deal in years. I followed your advice and narrowed it down to one property. Your help for this newbie is invaluable. I will jump into the forums more often.

Darrell

@Arron Klatt Thank you so much. I want to run the deal through the BiggerPockets calulator, but thanks for mentioning the time on the market. In my excitement, I forgot that part and will look that up.

Darrell

I have one small multifamily and a condo. I bought the multi-family 14 years ago and turned the condo into a rental 9 months ago. I am excited to be on Bigger Pockets and am binge listening to the podcasts from 2013 on. I am looking at some affordable properties (all three are small multi-family) and wonder if I am asking my realtor the right initial questions. These are out of state properties in a location where I will be eventually moving to.

1. What is the tax appraised value

2. Is there a possibility of seller financing? If so, what is needed down and what is the interest rate?

3. What are the annual maintenance costs? (Average for last 3 years)

4. How long have the tenants been there and what is the lease structure of the current tenants? Is it month to month or 6months or a year and when does the lease end?

List Price: $48,900
List Price: $42,500
List Price: $30,200

Also, if all three cash flow based on the BiggerPockets calculator, how can I structure a deal to buy all three with minimal cash out of pocket. I really want seller financing, but is that the best way to go?

Thank you,

Darrell

I will be attending for the first time and look forward to meeting you. How early can I get there. I will be coming out of DC so I will leave early afternoon to beat traffic. 

Darrell