All Forum Posts by: Paul Staszel

Thanks for the comment.  I have to look if the electrical/ plumbing have been updated.  I doubt the original can last over 100 years, but then again things were built solid back in the day.  

I was looking to come in with a low offer and waiving the inspection.  Its an old building, I know things are going to be wrong with it, so why pay someone to tell me that.  I was just going to factor in the cost of plumbing and electrical and subtracting that from offer.  Also waiving inspection can be a  competitive advantage as a lot of people do not do it.  

Currently looking for a multifamily building to buy.  One came up in an area I want to live however the only thing holding me back is the year it was build... 1872!!! Should I stay away? 

Eventually he will get tiered and want help if not outsource the whole project.  I understand doing things initially to save money for the next property but in the long run one person will not be able to maintain and complete capital expenditures on 30+ units.  

If your doing unpermitted work (would not recommend) cover the windows and doors until finished and do no not let inspectors in.  FYI, Inspectors are a pain to deal with, but they are there to make sure contractors are not taking short cuts. 

Another thing to consider is that recirc fans do not filter air and as a result you may get a greasy film on the top of your cabinets over time.  Whenever possible add in a duct, will save you time in the long run (no more scrubbing greasy cabinets).  

I would go to local Credit Unions and see what they have to offer.  

Hey George, I am looking for a home (brick construction/full rehab needed) in the 60459 and 60453 zip codes to flip.  Let me know if you have any deals, cash offer can be accommodated.  

@George Blower

Do you know a broker that can facilitate such plan?

Leverage can be a double sided sword!  You want to leverage your money to make money, however too much leverage can be very risky with a volatile market.  However from experience, the fluctuation in market/property value does not always equal the fluctuation of rental rates.