All Forum Posts by: Mario Alexandrou

@Okeoma M. congrats, great job, on to the next one.

@Charmaine M. I admire that, best of luck to you to.

@Tariq B. excellent, now I should learn how to use a screwdriver, "Pick up screwdriver from handle with right hand" there ends lesson one. Thanks Tariq, best of luck.

@Tariq B. great job my man. That is very impressive. Any idea what it's valued at now. That is just so awesome.

@Joe Villeneuve I will be extensively rehabbing both buildings, in the attempt to re position with increased rents. I suppose at that point I'll look at refinancing again. 

This is what I have heard from the bank, they will give you 80% of appraised value or 80% of purchased price, which ever is less. As an example, which I am purchasing next week, Agreed value of 100K with sell, bank values or appraised the property at 145K, bank agrees to give me 80% of 100K. I know this is not answering your question, but is on a similar subject.

@Mil Sanghvi sorry forgot to add that our PM is using Builduim and handling over 100 units. Hopefully that could work well for you in these early stages.

@Mil Sanghvi I have a PM company that is handling management, I'll take that step once I've stabalized the units.

Great job.

Congratulations on your purchase, I'm closing on a 8 unit next week for 200k. So we are very similar in numbers, but the difference is the owners will not be giving me any cash. We have agreed to pay 100k per 4 x plex, and bank has valued them at 145k, each. So get them appraised, who knows, you may have made a chunk of money already.