All Forum Posts by: Davit Gharibyan

@Mary Cronin I hear you. It’s exactly C class in a c area. There is room for 150 - 200 increase though. 

@Mack Benson Mack, thanks for the input. Yes, we are looking at the same deals. :)

@Mark Albini great point. These properties are Multifamily, how would you go about that? There is one I saw the other day where the owners haven’t done any updates to the units (bathroom and kitchens are 30 year old). They work, but the units were pretty crappy. They ask 100k a door, but do I pay them 100k or let’s say I offer 90k adopt, since units need updates. 
The owner can argue that he is renting the units fine as they are but in my opinion things could some tlc .

Hi fellow investors. I have a silly question. I have been shopping quite a bit older apartment buildings (60-70's). Many properties have outdated kitchens and bathrooms. The units are still functional but in serious need of updating. My question is, if for example I am going to spend $7,000(price can be anything) per unit to update, would I factor than cost into the offer? On one hand the cabinets and bathrooms still work and not broken, but on the other hand they're super old.

How would you go in this situation?

Hi Christopher, last year I bought a 17 unit property in Farmington, MN. It's a bit for for my liking, but it's fine. Currently I actively calling owners across Twin Cities, MN. There is a tremendous opportunity in small to mid size properties. Anywhere from 7-50 units. Lots of these operators are in their 70s and looking to retire. Their rents are 100-150 below market rents. Imagine, you buy a 10 unit property and raise the rents by 100. That's $12000 additional NOI. By doing it you've just raised the property value $200,000. This is the beauty of multifamily.

Hello all, I have filed DBA for the LLC that owns the property. The entity is in Minnesota. The state requires me to publish the DBA in a business newspaper for two consecutive publications in the county where the business is located. The business address is in County A, but the property is in County B. Which county do I need to publish the newspaper? Nor the state nor the newspaper will provide me the answer. Can anyone advice?

Thank you.

@Kent Leach Thank you for the info Kent.

@Todd Dexheimer Hi Todd, can you recommend a securities attorney in Twin Cities, MN? Please DM me. Appreciate it.

@Greg Dickerson You nailed it in one reply. Everyone covers the points but not so clear. They say do this, do that, but they didn't elaborate clearly.

 You answered my question. I didn't mean to be repetitive.