All Forum Posts by: Rob Marzolf

@Ruben Goodbear Anders between you me and the people who read this I would do all the work and then hire contractors to come in and finish it off. Just say you found out the last guy wasn’t licensed or something. I feel like this isn’t good advice but I think it gets around your cost situation.

Where are you in Arkansas?

@Karl McGarvey remember that something banks consider when writing the Lon is “debt to income”. So I don’t know how far along you are in your journey getting rid of the debt isn’t a bad thing.

@David Lilley agreed. I enjoy the fact that I do not have partners. I feel like it streamlines decisions and allows me to make mistakes and grow without judgement.

@David Lilley what’s wrong with using your own money?

Licensed in Arkansas for over a year now. I currently serve north west Arkansas. Let me know if you’d like to line something up.

I have recently discovered a company that prefabricates living Pods.  These pods are created in factory then shipped to the construction site. The pods are considered one "hotel" room.  They are placed together and connected to each other and then finished out via normal means of construction i.e. Sheet rock, sparkle, paint, ect. 

The problem I see is that modular or mobile homes have little to no value.  I am lead to believe that is because they can be moved.  Well when it comes to a modular home the banks still don't assign much value to these properties due to its lack of foundation and build quality. Would these concerns transfer over and affect the value of a commercial multi fam property? 

Given the type of construction, basically a modular hotel at this point, does this affect how the building is valued, or borrowed against. 

Any help would be great. I will find more specific answers if anyone would be willing to help me figure this out.  

Thanks 

Lamont 

I have found two properties that I am interested in.  One is a four flex and the next is a duplex.  They are roughly the same amount of money to buy.  I guess I am stuck on wondering if the small amount of cash flow will be worth having 2 more units.  

The four flex is $245k and each unit rents for about $450 a month.  So $1800 @month. No word on vacancy from the listing so I guess just assume its full?

The duplex is $229k, half rented out for $1000 the other half is vacant.  I can expect to get 750 to 800 out of the other side.  To be honest I'm not sure if the other unit is actually renting out for 1k.  Thats pretty steep for the neighborhood.  

I hope that will be enough information to get some help.  I keep on going between the pros n cons and back and forth between the two.  less vacancy impact with the 4plex but more to maintain. With the duplex Ive got good cashflow from the beginning but then who knows if the high paying tenant will stay,  This could result in having to top the rent down to a more reasonable number and having a negative effect on the overall cashflow. 

Thanks for your time. 

i know I saw a vice news on YouTube about Arkansas and the criminal violations vs civil affair. That will just give you some background on it. 

hopefully we'll meet up one day.  I'm getting my plan in order to first time invest in a plea too. Good luck to you!