All Forum Posts by: Nik S.

@Ash Hussain Thanks for the mention! I just re-read a little and it brought up some good memories. I am STILL in pursuit for the next building. I offered on 2 properties this year, one 58 unit and one 87 unit. The 58 unit deal took 4 long months of pursuit. I finally got it under contract and then after inspection, I backed out. It was very hard for me but it was the best decision ever. Spent $800 on inspection and it saved me. Too much deferred maintenance.  The 87 unit was priced at $1.625m....I offered $1.650m.....I got beat by an all cash offer of $1,710,000. I couldn't believe it, frustrating but nothing I could do. Still hunting :-)

Eric Foss Hey Eric, check your inbox !

Nest cameras (indoor / outdoor). The monthly or annual costs can add up but to me are well worth it. Cameras are always a plus in my books. Cost of the cameras aren't cheap either but there are some good advantages. The cameras offer amazing quality and sound. The cameras can record and backup to their cloud based platform for either 10 days or 30 days. Depending on your building layout, these may work for you. I'm tired of the DVR systems, they always seem to have issues. Very user friendly cameras. Good luck!

@Judd Campbell I think your doing it perfect! Nice video! The DB9 is an extremely tasteful high end machine. It's pure class. I truly believe more motivation comes from such things. I don't think we should work for materials but they are reassuring at times :-)

Small world! Would love to chat about your investing! 

@Judd Campbell I like the way you work!  Love the DB9. Do you drive it often? Do you like to keep the miles low? I have a friend who has a 2011 Ferrari 458 who DRIVES it and I just can't see myself putting a ton of miles on the car...

Just like some of us, I have also posted on this forum multiple times. I am itching to get a sports car (Mclaren 570s). Perhaps one with a few thousand miles as it saves tens of thousands of the retail price. Pay for it in full & drive it around town for a little bit, keep the miles low but still enjoy it. When I get my thrill out of the new mclaren I can sell it. Sure I will lose $10-15k after putting some miles on it but I know everytime I get in the car it will remind me of why working hard is #1. I have been going back and forth and I have decided to hold off. I decided to pursue additional MF's and wait it out as long as my desire can...maybe wait till I hit my next goal and then get a reward :-) Happy Investing!!! 

@Kenny Rowe

My first flip ever was a home that had a foundation issue. Prior to putting in an offer, I had a reputable Foundation repair company give me an estimate. After receiving only (1) estimate, I plugged in the numbers and offered accordingly and won in a highest & best situation. 

The reason why I wasn't scared was A.) because the numbers worked pretty decent and B.)most reputable foundation repair companies offer a lifetime warranty. 

You have to disclose prior to selling that the home had it's foundation repaired (documents & warranty was shown to buyer prior),so essentially some buyers will walk away as home buyers do get nervous, thinking that the house is "defective", which isn' the case. 

After the foundation was property repaired, I took photo graphs and then I finished the basement to cover of the repairs so all the potential home buyers weren't staring at the repairs. 

IF you have the option to have a foundation repair company look at the property first, go for it. Get the price and get a lifetime warranty. Upon selling provide only the warranty for the potential buyers (supply pics upon request). Finish the space to let the buyers focus on the beautiful home! Good Luck 

@John Horner it's more of an amenity for your property than an income.. sure it's cash flow but finding tenants is easier with onsite laundry. 

@John Horner

Hi John, my 24 unit brings roughly $150-$200 max monthly. We're at $1.50 per wash & $1.50 per dry. 

@Drew Denham

What was your final outcome? I flip too and have one under contract via FHA. 1st appraisal was 2k over purchase price, 2nd appraisal was 10k under purchase price? Any suggestions? Thanks!