All Forum Posts by: Michael Hajduk

@Char Tovar what neighborhood is it in? That can make a huge difference here.

Originally posted by @Bill Kramer:

 I dont like leaving hazardous materials behind to be someone else's problem 10 years from now. Because some poor guy is gonna tear up whatever floor you laid over to encapsulate, and get a lung full of that crap. I am that poor guy alot of times, and it irks the hell out of me that someone put my health in danger to save a dollar.

Dont be that guy.

 This is what I'm most worried about. A floating floor over the top might be better because that could be removed without tearing up the asbestos, and I could leave plenty of warnings in between. Ideally I'd have it removed though, because then my entire basement would be level, instead of having a transition step down into the utility room. Also, no more asbestos.

@Jason Bott

USAA will.

I apologize for posting this in the wrong forum. The mobile app has some pretty big navigation flaws, and not seeing the whole forum name is just one of them. Feel free to delete.

My contractor said these 9x9 tiles are most likely asbestos, and that as a homeowner, I can mitigate it myself much cheaper (with special containers from the city - not being shady)

How do I find out for sure without opening a can of worms and being forced to deal with it right away?

https://i.imgur.com/eNwUV41.jpg

@Markos Gerges

It's almost a year old, but why don't you use their open data portal? I think this is exactly what you need.

https://data-wayne.opendata.arcgis.com/

https://data-wayne.opendata.arcgis.com/datasets/5bffcfce048e4b33a4b49027c47b5b66_0

Maybe you'd like to collaborate on software ideas? I'm currently doing this in another market right now.

I added the Toyota-Mazda site to the map. It's a very rough approximation I eye-balled from this article:

https://www.huntsvilleal.gov/huntsville-lands-1-6-billion-toyota-mazda-manufacturing-plant/

I'm off by about .3 acres, but I can't really tell where. Should be close enough for our sake though!

I agree with Carl, expenses seem low. Those rents at that purchase price don't often equal 10% cap. Even if you self-manage, you should account for at least 5% on commercial for that expense in determining its worthiness. You should get paid for your time!

Will the renovations be completed before a closing?

How much does the owner spend on maintenance and common area utilities every month? How much does snow removal and lawn maintenance? Is he saving any CapEx money? By my very rough guesses because I don't know what those things run in Indy, I'm calculating more like 13000 NOI and a 7.2 CAP.

It's still a good deal if someone can find 20% down 30yr amortization though!