All Forum Posts by: Mandi Baxter

👋 Feel free to reach out to me. I am in the Mini Cassia area and would be happy to be on yours buyers list.

So 2 questions about rentals:

1st, I haven’t purchased any rentals yet but I have had a few come up to analyze and when I analyze them they always come up as negative cash flow. Am I doing something wrong or is it just part of that finding a lot of deals that don’t work out before you find a good one?

2nd, I have only purchased SFH but I am looking into multifamily and I heard about Crexi and found a lot more properties than what's on MLS. I also recently heard them mention on the podcast that when you get into larger multifamily you don't have a buyers agent. I know this is kind of big question but how does that process work? Any references for where to learn more about the process?

I am a relatively new investor and I am looking for your knowledge on this situation I found. 

I am driving for dollars and stumbled upon a property that has been abandoned. The information I have gathered so far tells me the owner passed away and he owed the state a lot of money so they may own the property (I am working on confirming this). I did find out from someone who was a family member of the deceased owner that a few years ago when we had some crazy weather and flooding one of the basement walls of the property caved in. This source hasn't seen the damage to verify the extent of the damage. I know that foundation repairs are a huge expense so I will do my due diligence and verify costs of repairs prior to buying the property. 

My questions are this, how much would you expect to pay for that kind of repair? Google is telling me $20k, I understand it can vary a lot in todays market but I have never dealt with foundation repairs so I don't have anything to base this off. I just want an idea so I have an idea what price MIGHT make this property worth it. 

Second question, if the damage is extreme, I'm considering if the house itself was also flooded now I might have mold, water damage, plus the foundation issues, at what point do you determine it makes more sense to tear down the property and build a new one? 

I would consider this land in a good location and know at least 2 people who maybe interested in buying it if I could repair or rebuild it.