All Forum Posts by: Kalyb Coats

It says they hydroexavated the near the meter and then found the leak right?

makes a guy wonder if they hit it or somethin

kinda odd that they jusf happend to find it after they were working there lol

thanks Charlie that helped tremendously. 

Yeah I know that's been my dilemma. This building will be worth 300k when oil comes back up but I know it's all about what I can do today not when ever oil decides to come back ha ha. 

SHould I buy this non performing building on a piece of property in a small townand try to do something with it or should I leave it alone and save my energy? its 9000 sqft on a .4 acre lot.. only partially cemented inside the rest is dirt.. 150k.....cant decide what to do with it....

Ive been busy and still trying to work a deal on this Property.. Thanks everyone for the awesome advise. Ive got the expense reports and taxes. Its looking like a solid 22k to 24 k gross for the past 3 or 4 years .....But 7k to 14k profits is what they are claiming to the goverment....which is at most 140k on an offer correct? @ 10% cap rate.. 

No its not in casper. I doubt there would ever be anything in casper around that price.. it's ridiculous here lol. I thought grand junction colorado was bad until I came to casper.  So cap is income after expenses, got ya. 

No I'm sure there will be a loan. Probably private and owner carry the guy was semi open to owner carry. I'll know more Friday when I meet with the guy. May 

Asking price 224000.. which would mean 15% cap rate on just "the parking lot" if the houses are no good. AM I doing the math right?