All Forum Posts by: Gp G.

with my full time job as software engineer it is like next to impossible to find a good deal that makes sense in all aspects

i am in Atlanta. i am fine in my backyard as well

Looking for multi family deal for 5 or more units around 250k-300k budget. I am open to any location as long as numbers makes sense. Where i can find the deals. Are there any type of help i can get from anywhere to filter best deals as i am not much familiar with this process. I am still learning and I am a software engineer not much familiar with commerical multi family deals. Please advise

how to find location type whether it is A, B or C or D.

Which type is better to invest i heard like C or B.

How to find for a particular small multi family unit in a particular city  below things

crime rate 

 present value

future value of a property 

job growth 

gentrification 

development that is there 

employer details 

future development that is coming 

neighborhood details

how much i can pay for each unit

how old buildings i can consider to purchase

what types of buildings are out there which last longer..i heard brick lasts longer?

what types of roof there which lasts longer i heard flat roof last longer and easy and cheap to replace

Please advise

i paid this realtor company 8500$ to find good deals in next one year and committed to pay 6500$ on backend when the deal is closed.

For escrow i paid 2000$

For inspection i paid inspection company 800$

Now i do not want to loose 8500+2000+800=11300$

All my family members and friends are scolding how stupid i am

i am trying to find that hellosign document i signed for this due deligence

i am out of state 4 states away. I am software guy do not know anything about construction. My realtor company who charged me money to find good deal is assuring me that they have team there who can handle all the worries for me. I happened to know last week that they have some team in my city also. My realtor company negotiating with seller. Hope i get some word next week by tuesday or so. I will keep you all posted. Thank you for your timely advise

hi,

I am on due diligence period with one property built around 1900's almost 120 year old for around couple of hundred thousand dollars. During inspection lot of issues are showing

Major Repairs:

Rear Fire escape damaged unsafe to use.

 Exterior Decking:

Exterior Decking damaged unsafe to use with advanced wood decay

Exterior Window and Door Framing:

Active moisture staining rot and termite damage

stone foundation:

significant pargement and mortar deterioration needs stone repointing and parged to avoid potential stone shifting

Environmental concerns:

Basement lot of mold 

Mold Tests

Confirmed cladpsporium and hyphase and pencillium type of modls in basement at unusual level

Pest Tests

Visible evidence of wood destroying insects and dea insects and termite related damage noticed. There is evidence of previous treatment

Lead paint:

There is possibility of lead paint issues as well as older than 1978 year

Inspector who inspected guessed it may cost around one hundred to two hundred thousand to fix(almost purchase price) all above major issues but asked us to talk to 3-4 general contractors to get good estimate.

This is my first multi family property. Now i am scared to get into contract.

My realtor company saying do not worry we are negotiating with seller to get some seller credits. But i am very nervous now. All numbers like NOI and cash on cash ROI cap rate all good on paper which they gave me.

i was told lot of gentrification happening in that area and properties are going to sky rocket to millions but i am very nervous now.

Any one has similar experiences or wisdom to share or advise in this tough situation.

If i back out will my earnest money deposit of couple of thousand comes back to me along with money i paid to realtor company to find good deals(not sure how some one can show this old building with this many issues as good deal by charging me lot of money in out of state area)

Please advise