All Forum Posts by: Jacob George Lada

I invest in smaller towns. One is along 44. It's a quadplex, 2/1 per unit and currently is at 425. Purchased for 95k. I have 2 triplexes in my hometown in southern Missouri and average around 500 a unit. 6 units for 170k. I did have an offer accepted for duplex in Springfield on FHA 200k. Nice duplex should be 850/900 per unit but will be occupying 1 unit. Taxes are low. But I have excellent returns. I can send the reports to you by email

@Alex Olson

I talked to the bank that initially had the loan. She said 12 month construction at 4% then convert. Far as I know it'd have to be similar size. I believe it was roughly around 2000 sq ft or tad more.

Hello all, I have a situation and seeking ideas/guidance.

Situation: this month I had a triplex catch fire and just learned yesterday it will be a total loss. No one injured/hurt I had just evicted the last tenants. I purchased this property in October 2019 for 260k with 25% DP. It's essentially paid down to 193-194k total since then. So since it's a total loss, I'm being sent a check for 260k plus 13k for demolition of the property and removal debris. 1k for appliance's. On my insurance coverage I was unaware of, there's a policy if I build a similar building with similar size, will add 25% of the policy which was 260,000. So I could basically either build a really nice SFH or multifamily up to 320k roughly in my understanding. Empty lot in the area sells for 50k roughly. Nice SFH sell for 330-350 in the area. Rent for 2/1 is 9-1100. 3 beds looking 12-1500. So the question is what to do? I currently own a duplex in the same area and my ultimate goal is to own multifamily and cash flow. Thanks for any input

@John Warrenv thank you for that, I thought that myself whenever he mentioned that. Which saves money but then again like you said, someone would be the main person

@Clark Kirkpatrick thanks

@Clark Kirkpatrick the other 2 I am unsure, my realtor I know has done this before, or so he told me, with a previous group he was part of. They sold their properties due to the other investors retiring. But he is very knowledgeable and has many properties of his own. And he said they use a lawyer when they draw up the agreement between partners. And I am new to investing, I've been debating alot on what to do either going in alone or with partners. They have a couple other properties they're currently buying at this time so I feel like it would be a good group of people to get involved with. He just presented this to me yesterday.

Hello BP, question about investing with partners on buy and hold real estate. So the situation is, a triplex for sale 290k. The real estate agent I'm working with asked me about partnering with him and 2 other investors. The deal would be the group would form an LLC, put in an equal amount down payment for 30% of the purchase price, self manage, and then after all expenses split the profits 4 ways. So my question is, would it be smart to go this route? Or, go ahead and purchase myself since I will have enough for DP and closing on this property. Thoughts?

@Adam Shelley it's called American modern. For 1128 annually.

@Bill Brandt I think I received about 13 different quotes and finally got one for 94$ month.

Hello, curious if anyone uses a particular insurance company for their investment properties? I'm buying a 4 bed 2 bath per side duplex built in 2010. It will be my primary residence. Currently being quoted just under 3,000 annually or 250 per month.