All Forum Posts by: Nazz Wang

Are you looking to wholesale this property? Or are you just looking to make an offer for a mls listing? I am not clear from your post what you are trying to do with the property.

I personally would think very carefully before investing in any university student type rental and any condo rental. But I hate tenant turn overs every year and having to work with immature roommate drama to collect rent. So it depends, do you want to invest in condos? Overhead is high and unpredictable with HOA and the owner's hands are often tied.

Nope, don't replace the stove. Start eviction immediately according to lease. The longer you keep a troubled tenant, the more $$ you lose. Remember, you are running a business, and everything must be treated with a professional matter.

Depends. Homepath and homestep tend to care. Most sellers don't.

I have seen 1.25 to 1.3 min from banks in my area.

Sean Richway what is the typical loan term for mid size complexes, length of time and amortization?

Possible but not easy as a first timer. Line up your hard money before you go shopping. Get a realtor that specializes in investments. Do your numbers really really well. Understand your schedule timeline, cost and holding cost really really well. It is possible.

Devin Beverage Can you post your detailed analysis so we can post input? Do the units make money or not per month? Condo are pains in the behind for management, and i agree, badly ran HOA's sunk deals. Condo rental often face a lot of competitions from big corporate apartment complexes where things are done for cheaper and the amenities are way better. A lot less appreciation in condos, especially in the current market position where there are a lot of new condo developments. The list goes on. So what do you know about these two condo and the area they are in?

Always good to start by self management. In the years of self management I have learned so many valuable lessons fast. I personally budget the higher of 10% rent or $2000 a year. Remember you also have to budget for that roof every 20 years and that plumbing every few decades, etc. a water heater can take out most of your yearly budget but only need to be done every 10/15 years hopefully.

If the doors are in good condition, do a good job sanding the surface smooth and repaint. If you get new doors you will have to prime them and paint them anyways. Just make sure the doors are sanded down good. You don't want the paint to be too thick or uneven or it will not close correctly.