All Forum Posts by: Ryan Lee

Welcome

Thanks for the advice, working with a commercial agent to see what its worth. Owner is a little upset on our offer but that means I am in the right direction since they came back and gave me what they actually want for it. now some real negotiations can happen.

So is there a formula after I figure out the NOI to see how much its worth?

So there is an apartment building I am trying to appraised but I need some assistance. Its 2 buildings attach to each other but has 2 separate address. 

The bottom floor is a restaurant and its spans the entire area of both buildings A & B. 

Building A has

1 apt  on floor 1

1 apt on floor 2

Building B has

1 apt floor 1

1  apartment that spans across building A&B floor 2

1 apartment that spans across building A&B floor 3

so there is a total of 6 units, How do i figure out whats it really worth?

@Montez Greer

Selling 101 whoever talks first loses, just wait it out.

@Thomas Moran

Thank God cause the comments are coming from both side. If you did your due diligence then this should be a good flip for you.

Please let us know the results! Include before and after pics

So are you going to close on the deal or pass on it? 

@Thomas Moran

I personally think you are too concerned with what the wholesaler is making. If you are making money then great.

When we go to a store and purchase something we never complain about the margins the store makes. Why complain now?

Make your money, make a relationship with that wholesaler, and get more deals from he/she.

@Brad Bellstedt

I use only electronic, no cash or checks.

Venmo, cashapp, zelle, PayPal, applepay etc.

I don’t trust cash, bills could be fake, checks can bounce.

Saw this story on reddit, had my own similar experience. 

I bought a townhome in 2009 that I now use as a rental property. Last summer when I was visiting the home I noticed the floor in the kitchen had sunk a couple inches. I'd heard previously from my neighbors that they'd had the same problem.

When I bought the home, the builder had given a 2/10 warranty which covered the any defects in the foundation for 10 years. I decided to pay the $200 to submit a claim and have them inspect, fully expecting they'd find some reason to deny my claim, but they didn't.

Today I have a check in hand for $38,000 and a bid from a contractor to make the repairs. If I hadn't thought to check my warranty or if I'd waited even 6 months my warranty would have expired and I would be paying that out of my own pocket.

Don't forget to check to see if your repairs are warrantied.