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All Forum Posts by: Josh Tardy

Josh Tardy has started 0 posts and replied 5 times.

Post: Coin laundromat owner willing to do seller financing !!!need help !!

Josh TardyPosted
  • Real Estate Agent
  • DFW Metroplex
  • Posts 7
  • Votes 4

Hmm well I'd need a lot more details about the place in general. Maybe we could all schedule a call to talk about it more. 

Post: First time investment property in Hopkinton

Josh TardyPosted
  • Real Estate Agent
  • DFW Metroplex
  • Posts 7
  • Votes 4

This would be a risky investment in my eyes.

If you knew for a fact you could have each unit fully occupied for as long as you own it, it still would be iffy for me. Repairs and Maintenance could really hurt you because your cash flow is very little. Plus even if you were to break even on repairs, the time you put in working on those repairs would not be worth it. Also, a 10% vacancy rate is not a safe enough number on 4 units. There are multiple things that concern me with this property numbers wise. I'm guessing it's a quadplex or a multifamily? Either way, 755k for 4 properties doesn't sound like they're the best properties. That also depends on the area but its hard to find a deal like that with the properties being in good shape. You should aim for at least a 10%+ cash on cash return (cash ROI). If you could send me the OM maybe I could help a little better.

In the end, this is your investment and not mine. Don't let anyone tell you, your investment is a bad one or a good one. Take their opinions into consideration but never let anyone tell you to do, or not to do something. Make your own decision off of what you feel is right. I am sure there is a lot I do not know about these properties which could change my whole perspective. From an investors-agent perspective on the numbers, I would look for a different property to put your time into. 

Post: Coin laundromat owner willing to do seller financing !!!need help !!

Josh TardyPosted
  • Real Estate Agent
  • DFW Metroplex
  • Posts 7
  • Votes 4

Well we'd need a lot more details on the property before anyone can help. Let's start with:

Price?

Cap Rate? (NOI/Price)

Location and address?

I'm guessing it's Free and Clear? If not, is the loan assumable? Does he want to keep operating it? 

This is just the tip of the iceberg, but I could try to help you sell it if you're interested. 

Post: Real Estate Investor Lunch & Learn

Josh TardyPosted
  • Real Estate Agent
  • DFW Metroplex
  • Posts 7
  • Votes 4

Tim,

I was wondering where I could find the link for the next event.

Thanks, 

Josh Tardy

Hey @Richard Helppie-Schmieder I'd like to attend next meet up as well. I have recently moved to the area and would love to join this group.