All Forum Posts by: Frank Daly

I thank you for your opinion.

I'm looking at 4 unit apartment. I'm having a hard time with how much remodeling should I do to it and should I deduct the estimated amount from the offer. I like my properties to look nice. A unit is on the market for $119k and most likely there going to be four other bidders. Do I offer full price or stick to my thinking and estimate what the updates will cost me an deduct it from the sale price and most likely lose the building. The things I'm looking at to repair probably do not need up dated right a way. It is like if it not broke don't fix it type of thinking. Is there a percentage that I should use. I do know the every building I buy, I usually have to put about 4K in to it just to rent it.

Thank you that what I need to hear.

I'm looking at a duplex. It a ranch built 1992, two bedrooms, one bath. They are only getting $550 per unit. Asking price is $131,900. I know I could get $600 to$650 per unit. At $550 I can only offer in the 80 to 90k to cash flow. I'm thinking of offering around 120k and getting a low cf and increasing the rent slowly to get the cf to $100 per unit. Good or bad idea?

Thank you for your help. I need to rethink how I'm evaluating these properties.

I looked at a duplex the needs about $15,000 in updates. The owner is asking $72,000. I offered $60,000. Even at $72,000 it cash flowed. My question is should I have payed the $72,000 and but additional $15,000 in to the duplex and see if it cf at $87,000. Or did I do the right thing by lowing my offer due to the work it needed. I have notice a lot of these owner put there duplex up for sell, when they need up grade and do not what to do the work.

What is the best deal. Getting a mortgage base on a 30yr at 3.4percent fix, with a closing cost of $3,200, or a business mortgage that is based on a 15yr at 5.2 percent that is renewed every 3 yr with a closing cost of $600?

The good news is the building is on the public sewer system.

Buying a duplex with well water a good move. Pros and cons

Thanks I like that.