All Forum Posts by: Kevin Sack

Distressed multifamily syndicate looking for accredited investor(s) to fund Ch11 carrying costs. If seriously interested in >$500k investment, reach out directly with your email and I will get you in touch with the manager for the full offering. 18% annual return plus kicker at sale/refi. Target 1yr exit

I own in a Class C neighborhood where debris tends to be a problem. The city has code enforcement that drives around looking for violations, then notifies the owner via mail. In my particular instance, there was a couch and tree limbs in the yard. The time between the letter date and reinspection date is 8 days. Using USPS's delivery calculator, it would take them 4 days to send the letter the ~200 miles to my mailing address. Does anyone else think 8 days is an unreasonably short amount of time to fix code violations, even for something as simple as debris removal?

I use @Patti Robertson and her team is very professional

Awesome! Mind sharing more financials? Rent, PITI, etc?

Welcome aboard! I personally won't buy in a flood zone unless the cash flow can offset the cost of flood insurance. Definitely heed the warnings about insect and moisture inspections. My triplex in Portsmouth ending up getting around $10k of work paid for by the seller due to wood destroying organisms.

Welcome. I have a multifamily in Portsmouth. Recommend joining TRIG (Tidewater Real Estate Investing Group) and going to some meetings. Lots of investors in the area!

Do you have finish pictures? What kind of price would you charge to an investor outside looking to build a similar setup?

Congrats. Do you mind sharing the rents and your calculated cash flow? The numbers don't jive with my math for the area.

Do you have anything south of the bridge?

To answer your question about resources, I get better results from my agent's MLS system than I do zillow and other free sites. I'm able to apply better filters to get exactly what I want.