All Forum Posts by: Sam T.

 

@Nicholas L. Hmm ok that seems straightforward enough, thanks a lot for the insight. Just to clarify your last point, do you mean that for example a 4/2, 2000 sf SFR would be roughly equal to a 4/2, 2000 sf duplex (2/1, 1000 sf  each side) before adjusting down a little the value of the duplex? So if that SFR was worth $300k you might put the duplex around $270 or so?

How does everyone estimate value for a duplex in a neighborhood where there are no other duplexes? I'm sure there's no exact formula here (I hope I'm wrong about that though!) but what would be a rough way to approximate based on the nearby single family houses? I'm completely lost on how to estimate retail value of a particular duplex with this situation, and would love any insight you all could share.

@Josh Griffeth

Hi Josh, I purchased a property recently and assumed the seller's mortgage"subject to" and it has been nothing but a headache. The closing attorney office we used was supposedly experienced with these types of deals and even they've been borderline useless. I'm planning on just taking out a personal loan to pay off the assumed note and then just refi so I won't have to deal with the current bank anymore.

Hopefully others have had better subject-to experiences than I have, but I definitely won't be doing another one based on my experience with it. Hope this helps somehow.

@Apriana Phelps loopnet has small MFRs on there sometimes, so that might be another good place to look if you're trying to avoid working with an agent. Also Craigslist and FSBO sites.

@Tim Lewis hi Tim, I'm a real estate agent and rental investor in Atlanta. Feel free to PM me, I'd be happy to talk and see if I can help.

@Grant Wertzberger

Hi Grant, I'm an agent in Atlanta and rental investor myself. If you shoot me a PM I'd be happy to talk about what you're looking for here and see how I can help you man. Feel free to reach out any time - I always enjoy talking with other investors.

Good stuff man that's awesome. Can you share some of your numbers, like house size, purchase price, rehab cost, appraised value after, etc.?

Hi Columbus community, I'm looking for some carpenter recommendations in Columbus for some soffit/fascia work I need done at a SFR rental. Anyone have someone you can suggest? Thank you!

@Tania Kahn do you live there alone? If so you could just rent out the 3 extra rooms and "house-hack" that way. Selling can be a little expensive, but if you can do that to get into a good duplex and improve your personal cash flow even more than you would renting out the rooms in your house, then that could be a viable option.

Ah ok I figured there was something like that I was missing. Yeah that won't do then. I'll have to see if any portfolio lenders will give me <6 months seasoning then. Thanks for clarifying Matt.