All Forum Posts by: Luis Barberi

@Yitz Frankforter I am finding them through the MLS and direct broker relationships. PM me if you want to talk I don't want to hijack this thread.

@Joshlee Ulysse - how are you finding out about the grass violations?

I literally just finished my inspection of a Quad that I am under contract for about an hour ago.  I used Tom Taylor from NPI.  He is great very thorough, friendly and has all national certifications.  PM me for his contact information.

 @Mike Percy  

@John Figueiredo 

Who did you guys end up going with?  Currently under contract for a Quad in Norcross/Gwinnett County and looking for some recommendations.  Thanks in advance!

Take the 70% of ARV Rule. Purchase Price = (ARV * 70%) - Rehab

So, if you are saying comps are $330K and yours is a little smaller say it would sell for $315K.  

70% of $315K is $220K - $75K you need to buy the house for $145K.  

Don't forget holding costs, buying (taxes, etc), selling, overages, 6-12 mo electricity/water/trash, etc

It may be a tight deal at $173.5K

@Austin Fruechting  Who is your lender?

Hi @Jeff Kehl funny enough with Irma we evacuated and I went up to Valdosta to see the apartments. After speaking to a few PMs and seeing it for myself, they are not a student housed. It is a B building in a C area, I think the reason they can't rent it is because of the dicey area. There are somethings you can do like adding fences and fixing it up a bit but it will be hard to rent I think and the competing apartments near by are much better. Shame as it is at a is a 17% CoC and 11.5% pro forma.