All Forum Posts by: Lior Golan

Hello everyone,

I decided that I want to find any first multi-family property that will have 8-20 units, hoping to find one where not all the units are rehabbed and then buy, renovate all the units, and finally refinance. (BRRRR)

I did research and found out that Colombus OH is a great area to start. so I am searching for a property manager in the area that I can start talk with him about the area and get more familiar with this area.

IF someone can recommend me someone they know, I would appreciate that.

Thank you

Hey,

I am starting to learn now the all subject to thing, and I learned: 

* that when I am initiating a Subject to deal, what is being done is that the deed and the mortgage payments are transferred to me, so I would have full control on the property. But the mortgage STAYS in the sellers name.

* that if the property would foreclosed, they will come to me and not him.

* about the due on sale clause, that if I am paying constantly every month, the bank typically will not initiate the due on sale clause. Basically because the bank wants money and not real estate. 

So few questions:

* What that mean stays in his name? Like what the consequences for that? Let’s say I would have a seller that I am explaining him how this process goes and also mentioning that only the mortgage STAYS in his name. is there any risk for him on that?
* About that the foreclosing the bank chase me and not the seller, is this because I owe the deed or because I’m paying the mortgage?
* What’s the difference between the mortgage stays on the sellers name by me pruning the mortgage (if I would buy this house with a typical mortgage)?

* if the due on sale clause does initiated and the required the money back in full, to which they go? To me or the seller?

* any other notes that you think I should know?

thank you

Hey,

I want to start investing in multi-family in the Atlanta area and I am looking for a property manager recommendation. Especially one that manages multi family.

Thank you

I am of course talking on wood structure buildings, not brick structure. 

So if I’ll bring a structure engineer as well, and he says that the structure is in good condition, you think it’s fine?

Hey,

I am deliberating on buying a rental property, either a single-family home or either a multi-family, both can an 80-100 years old. I will remodel, of course, especially the main staff that always break like carpet to LVP, new water heater, maybe new roof, new plumbing electrical and HVAC all around, etc.

But the problem is that I afraid of any long term issues with the structure.

Anyone who owns those old properties can give me any advice on how to mitigate feature problems with these?

I am leaning towards buying properties newer than 1950 right now rather than older than 1940... 

Thank you

Hey,

I am doing my first Flip with an extension from the back. I didn’t finish it yet, but I was hang on on so much things that held me a bit.  
Is there anyone here who does extensions as a flip and had finished 1 or few? I would like to get some main key lessons that you’ve learned in the process.
thank you

Got you, so it seems like I do need foundation plan. 

Hey,

I am in a middle of a flip right now and one piece of the project is to do a crawlspace because of an extension.

I have hired a concrete company to do it. They have already poured the concrete "borders" of the extension to get ready for the bricks around. But when I asked him how much and where he is going to put the piers, he said that he needs a foundation plan.

But the problem is that I have already pulled a building permit for the extension and they have requested only a site plan.

What would you suggest me on doing? Should I go and try to pay for the foundation plan or there are really simple rules for that which I can learn really quick to tell him where to put the piers?

Thank you

@Rick Martin

You are right, it really also goes in the COC metric into the calculation here.

I think I will really start to read a book about multi families like @Taylor L. suggested.

But I was just wondering if people here are indeed getting more than 150-200$ per each, but it's really depends on how much money is invested in the deal with COC.

Thank you

Hey everyone,

I’m a flipper for already some time, decided that I have enough capital to invest in an asset that will produce me passive income. 

I want to go for the 5+ multi family approach (I still need to learn the industry though as I know it’s different than 1-4 units). 

I want to try find something between 6-10 units BRRRR it. The question is how much you think I could get cash flow per each one?


I would like to get at least 200$ per one. Anyone already is getting this kind of cash flow? And if yes, in what area? I am open to invest in any area in the United States where I can find something good as a fixer upper for up to 500-550K

Thanks