All Forum Posts by: David Yuhaz

I agree with Victor N. I put $200 on my mortgage and for the last 6 months added to the principal and it works out you'll see how fast you balance goes down. Make sure you have emergency fund for anything that come up.

keep learning and good luck!

David

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Thanks guy and best of luck to you.

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Hi everyone, just want to let you know that I started taking the course Monday 2/15/2016 and its been informative and seemed liked I am getting overwhelmed but I am going to keep on keeping on. Excited to do this and educate myself to get out of the rat race. Doing it now better late than never. Word of wisdom if any to keep on my way.

Thank you

David Yuhaz

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One of our rental properties is free and clear, and the tenants have been in the home approximately 3 years. This property is being taken care of through a property management company. This past year, the tenants have ALWAYS been late, sometimes 30 days. Legal paperwork is always filed and they ALWAYS pay. Problem is, their lease expires Feb 1, 2016 and my wife and I are not sure if we should renew their lease or not. Any suggestions or comments would be greatly appreciated. Thank you.

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Originally posted by @Ben Leybovich:

Let's think this through, David.

People have lost their behinds over a single SFR because they got in without knowing how to tell their head from their rear. You are talking about 30 doors, and judging by your questions, you wouldn't be able able to find your butt from your head even if I draw a 1:1 scale map for you..lol

These are dangerous times, David. Suckers get had in times like these. Don't be one of them - study! Take your time. DD is all on you - there is no one to call. It's all on you, David! This is REI, not amateur hour...there'll be other deals, and you'll be more ready. For now - just study :)

Thank you Ben, I will do my DD and study so I know what to do down the road.

My wife and I made an offer on a SFR will wait and see if he counters. And also I will take my time because going back over and found out it is a 14 unit building.

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Originally posted by @George Hermann:

A building that big should have a super. Go and talk to him and find out who is paying him and how you can contact them.

thank you. doing a little more digging read the city info wrong, its only 14 units. Should I go talk to the tenants then?

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Hello bigger pockets people just got word on a 30 unit apartment building that the owner has passed away and the person I heard from works for the city I live in. He said that the grounds are being uncared for and he needs to bring a dumpster there once a week. Not sure how the proceed to get info on property. Went to the city website and got the tax info on the property and shows that its behind on summer/winter 2014 and summer tax 2015. Who can I contact to help me with the due diligence on the property just to get educated on how the purchase the a property of this size?

Thanks

David Yuhaz

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Originally posted by @Account Closed:

Just talked to a quicken loans guy and he said I would have to have 70k to cover closing costs and the downpayment. I have great credit - 744. Is this typical? What are other ways to purchase a 250k multifamily for investment without having to spend this much?

Just applied for financing on a 3 unit and they were asking for 25% down also, after reading the posts and talking to lenders sounds about right.

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All Forum Posts by: David Yuhaz

David Yuhaz has started 4 posts and replied 18 times.

Post: How to make Extra Payments to Principal?

Post: Real estate license course

Post: Real estate license course

Post: tenants always late--do we renew lease or not

Post: 30 unit apartment building

Post: 30 unit apartment building

Post: 30 unit apartment building

Post: 28% down to but a multifamily?