All Forum Posts by: Sam Alon

thanks for the warm welcomes, 

Cody I'm open to deal's or suggestion I'm willing to do any real estate activity.

Ryan tell me where and when and...

Hey Zach I didn't managed to find comps for apartment in that area, the average price for 2 bedroom houses or town homes is around $85,000. 

anyhow i planning to buy and hold and  that's what i checked, if my buying price is less then $1,500,000 and  95%+ occupation It means that i can get my money back within 4 yr or less. there's waiting list on almost any complex. 

I'm strongly believe that the price of $1,500,000 will make this great investment.

It's reasonable to offer less then $20,000? 

I don't have the experience  but i think in that price is an easy calculation.

I would love to get suggestions.

Thanks for the answer's.

it was online auction for the Benton county court here in AR.

as i said in May they did one auction for all the 3 properties 16+17+84=117 Units. 

the first two are multifamily houses and the 84 unit's are one complex with 8 buildings. 

this time they separated the auction to 3 , the starting bid for the 16 and 17 was $150000 

and the 84 started at $800,000 , anyhow the 17 units complex got $400,000 bid and it says no reserve met, my goal depending on the fact that nobody bid in the last auction was $280,000 each the 16 and 17 units complex and 1,100,000 for the 84 units $1,560,000 and maximum of $1,750,000.

now the 17 units has gone from the listing so i believe they sold at for around $400,000, and i still want to buy the other 100 units,  $280,000 for the 16 units and $1,100,000 for the 84 units I want to know if my prices are reasonable?  

Hello BP members,

I found 3 multifamily auction's around my house but i had only one week to bid, so I tried to find out everything possible which lead me to an older action  for all three and the starting bid was $1,000,000.

so i set my goal to bid 15,000-18,000 per unit with more than 95% occupation and average rent price of $400, anyhow i didn't made the bid and they didn't sold them yet.

my question is what next can make an offer to the broker?

do i need to wait for the next auction?

thanks in advance 

Sam

Hello BP members, 

Register to BP a month ago, as an autodidact person I took my time to learn the basics.

during that period i read 3 books and while driving listened to more than 58 BP podcasts.

I worked as locksmith for more than 15Yr in Houston and 7 month ago our house and my van flooded,that day I  realized that i need to change my life path TODAY!

So within 3 days  we decided to move to North West Arkansas and start new life, we had less than $2.5k  at that moment.

We were more than 2 month in hotels until we found  a place to rent, properties that posted in craiglist at the evening were found tenant the next day before noon, during that period of time i opened My locksmith business and advertised the service on google adwords (luckily i have the experience to put my ad in the first place on first page) so i started to make money on the same day i got basic locksmith tools and new van. 

2 month ago I searched for other methods to increase my income and after reading a while and passing most of the "scam's" proposal on be rich as soon as you wake up next morning, I found the real estate and it just felt right from the first second, ( I had some buy and hold 3 units in Israel ) then i went to youtube and searched for real estate investing taking notes of the terms using in the videos and start googling the terms to learn the definition, UNTIL one of the terms send me to BP and this where i felt i found IT.

I hope is not the largest introduction the BP society has read :) , so i decided that  the first thing i want is too get a monthly cash flow ASAP before the end of the year and i almost did! I found an auction of 3 different complexes 17unit/16unit/84 unit 95% are occupied with an average rent of $450. but i founded a week before the auction ended.

My goal is to buy my first real estate property (multifamily or bigger) before January, and i need all of you to help me do it. if someone is interest to here details about the complex i'm willing to see if we can still buy this and how.

Thanks In Advance

Sam