All Forum Posts by: Nik S.

Eric Adobo I’m with you. Every time I sell a property,l my agent texts me a few hours later and says it’s official, it’s no longer yours! So something happens... it “records”..... :-)

I’d pass on it...let it be someone else’s problem. More hassle and potentially for much more problems.

Contingent on the location, a tear down could work (different ball game than flipping). A house that you aren’t allowed in and they showed you only those pictures... it’s not a good sign. There’s deals out there so don’t be too attracted by the low asking price. Calculated risks are always better.. do the risks out whey the pros in this situation? What’s ARV? What’s profit potential? Mold is part of flipping it just depends how bad. Is there a foundation issue which is causing the water/moisture mold?

When you sell the home, on the disclosure you would have to disclose the previous mold damage. Hiring a certified mold restoration company (can be $$) sometimes is needed as some buyers want the assurance that the mold was remediated properly.

When it gets officially recorded at the county building, it’s yours legally.

@John Wijtenburg

Hi John, my experience is within multifamily (apt buildings) and motels (smaller 30 unit). I have been approached to purchase a 150 unit quality inn & suites. Their revenue stream is strong however a third party is managing it now and the expenses are making it a bad deal. I have a chance to acquire it for a fair deal however the NOI is negligent given their expenses.

Currently, I am generally a "passive" investor so I am not looking to manage employees etc. My apt buildings are managed by a PM and motels are managed by husband/wife couples.

Any key questions or things I should be paying attention to? All and any advice is much appreciated. 

Nest all the way! I have them everywhere!

Only Apple Mac’s for me. Windows is absolutely the worst. In my business we only accept Apple computers. Windows computers don’t hold value and are essentially disposable. Heavily virus prone as well. Macs are much more resilient to all the spyware / viruses out there, hence that’s why most viruses are designed to attack Windows (macs security is much stronger). Macs will maintain there speed and performance for years and years. I believe in buying quality, assuming you will take care of it. MacBook Pro 15” is the only laptop I will personally use. Screen provides just the right amt of real estate :-)

Rory Cummins It all depends on how hands on you are. I’m just about 100% off but I do stay in contact with PM’s and closely watch all the property daily report. It’s definitely safe to say from my experience it’s about $100 per unit net and then factor in vacancy (10%). Multi Family net per door is lower where as SFH is almost always higher. Higher the asset class obviously the less cash flow but my $100 is based on C-C+ multifamily. As said earlier, CoC return of 15% is a solid return as well as total return (cash flow + debt pay down) of 25% is also solid. Multi’s offer more flexibility and better economy of scale therefore offer less net per door, but it depends on investor approach. I’m only interested in Multis Bc having a property support PM’s allow me to continue to invest. Good Luck!

@Jack Smith Could you PM me those that you wouldn't recommend. I have a PM now but am looking to hire another one for another building...Thanks!