All Forum Posts by: James Nix

@Rolayne Taylor We are just alike I started in 2019 with my first house hack. I would suggest keep learning and dig deep on the one real estate strategy you selected to pursue. 

Also I would like to recommend these 2 different books to read on top of all the BP podcasts you are already listening to: 

1. ABC’s of real estate investing : Ken McElroy 

2. The book on rental property investing : Brandon Turner

@Jaycee Greene the funny part is Bo is actually really good especially gonna be for the future for Denver lol. 

So the average rents is $1300 on the 25 units. The property was renovated in 2015 but I haven’t been in the property yet to get a full scope of everything that’s going on to answer how much rehab would be needed yet. 
 
This asset is 100% occupied & stabilized already but the loan is due soon & I talked to the broker and I was given indication that I could possibly trade at $120,000 door when it’s already a steal at the listing $140,000 a door in that location. 

I know this could be hypothetical talk because I don't got the deal under contract at any price or even sent an LOI but I just wanted some help on getting the Debt lined up to know the steps. Because I am connected to the equity for the down payment on the loan.

 Hey @Jaycee Greene ,

Thank you for responding, I am looking to buy the property with rehab funds already also would be looking to be able to refinance out in 3-5 years.

This will not be all of my funds in this purchase. So will be looking for some guidance as to putting everything together far as the structure LLC etc with the funds coming from a few people.

Also didn't think personal credit score would be a major factor if I would be using a LLC with the funds for down payment or am I totally wrong about that?

Also just wanted to hear a few different opinions about how to go about this that’s why I posted it on BP so if you think Banks/Credit Unions is the way to go about this purchase please if you can give me tips on your experience with this? 

Hey everyone looking to get a Debt quote on a 25 unit apartment building in Philadelphia, PA. I will have 30% to put down on the asset which range in the 3 million - 3.6 million range. 

Any recommendations on any lenders that will do this loan. 

@Tracy Minick thanks for your comment. You are right but it was the water shut off value to the toilet in the above unit. The GC fixed the problem and let everything dry out for a week before putting the new ceiling on.

@Nathan Gesner Thanks Nathan, you are always so helpful when I post a question on here so I wanted to come back and personally thank you and post pictures of the issue being fixed.  

Hey Everyone, 

I just received a text from my tenant letting me know her bathroom ceiling caved in last night. So her unit is under an exact replica of her unit above her (Duplex). So, what you see is the part that's caved in is the ceiling directly below the toilet of the tenant upstairs. 

I already sent the video (You see screenshots of a video) to my plumbers and handyman but just wanted to be Pro-Active and put it in the forums for any thoughts of what this could be so I can kind of get an idea of what this could be and the fix.

If possible, could you please list your opinions on what could have cause this also?

Thank you in advance for all replies if I don't 

Hey Everyone, my friend owns a single family in Philadelphia that he was renting out to some family members with no problems. 

He stopped receiving rent from them after a few months of paying on time now he is just fed up and just wants them to move. Problem is he never put them on any lease. 

So he would like to know how to go about getting them out the property? 

He had made an arrangement with them giving them free months of December & January so they can move out on February 9th. 

February 9th came and went with them telling him that they never got an official notice to move. 

Also if anybody have a form with this language on it so I can send to him would be greatly appreciated also

Thanks in advance 

@Nathan Gesner thank you 

 Thank you 

@Kevin Sobilo thank you so much. Also would you paint the whole wall again or just over the patch up job?