All Forum Posts by: Paul Fagot

Jay Dewberry hey there thanks for the response and anything helps! The whole reason my buyer went the bank route to get accepted for $15M is because he first brought the $17.6 and that was a joint POF that's why he didn't accept. I mean is having a partner(s) with joint POF risky or too much to deal with?

The

So Me and my partner got these properties as a package deal in Atlanta,GA has 2 multifamily apartment complexes total of 395 units for $17.6M with a 9.2% CAP 91-93% occupancy and has a grant more almost $6M for anything the complexes need. But only way for a buyer to get anything important like rent rolls or other financials the buyer must provide a POF. It's been off the market for maybe a month and a half. Me and my partner found an all cash buyer who spent all week to get the POF for $15M from there bank and the seller didn't accept the POF. All the buyer wants to see is the rent rolls and financials. Plus the buyer is very interested in the property. I just don't understand why the buyer wouldn't even budge or accept the offer to just show the POF. The buyer can get someone else to lend him the extra cash but the seller won't allow or want to deal with that. So now the buyer has to figure out a way to get $17.6M. This seller is frustrating us. Any advice on what we should do or advice I could give my buyer? Seller pretty much lost a buyer when the buyer could've gotten the extra cash if everything works out.

Poor management, and B+\- area, not all units need repairs but most of them do need a lot of updating and repairing things. Like some of the roofs need to be repaired some plumbing and some wall work. Rob Gillespie

Rob Gillespie

168 vacant units 3.2M firm Repairs 2.2M Est. value $7.5M $800-900 rent Income per month $133,600 Annual $1.6M 12% cap rate 5 GRM 10% vacancy rate and 40% expenses Net income $865,600

Is adding 4-6% for your fee to each property that are from $1M-15M to much? Or Can you even do that? I've seen wholesalers post that say "Asking price of say 3M + 3%" would that be to much to tag on for a fee?

As of right now Stan Sugarman that's what I'm trying to work on. I'm trying to connect with people who know things about the areas and pretty much help with advice. I get deals sent to me all the time but figuring out if they're deals is the part I'm trying to work on as well.

Hello I'm looking to start wholesaling in Atlanta Georgie and surrounding areas, and I'm looking to connect with reliable real estate agent. I'm not looking to bug you 24/7, I'd only contact you when I have a possible deal and when I'm positive that it's worth it and most importantly my time and your time. What I'm looking for is someone who I could ask for comps and simple things and then return would be either a referral or a cut out of the profit. Any suggestion on how I'd go about finding a realtor?

Jay Hinrichs any advice on how I should go about this property in Pennsylvania?