All Forum Posts by: Robert Shadley

Hi All,

I currently have a duplex that I am required to pay the utilities on.   I was thinking it would be nice to be able to at least monitor or maybe control the systems from my phone or computer at home.  Has anyone used anything like this??  Just curious..

Thanks 

Rob

Thank you all, nothing is specified in the PA, I will contact my realtor to make sure they let the title company know.. Thanks again 

I am about to close on a Duplex that is fully occupied at this time.  I was hoping to close by the end of the month but the bank appraiser seems to be too busy to get it done.  Lets say I don't close until next week which will put us into next month,  who get the rent for that month.  If the tenets pay the current owner on August 1st and we don't close until the 3rd, I feel like I will be missing out on that months rent that should be mostly mine.  Any thoughts? (This is my first time buying a unit that is occupied)  

Thanks,

Rob

Thank you!  Thanks what i figured

Quick question for you all.. I am in the process of purchasing my first duplex. The property is 100% Occupied and I was wondering if the lease agreements just transferred over or I have the right to re-write the lease at the time of the purchase. I have not read the lease agreement so I don’t know if I will want to change it but was just exploring my options. Any help would be appreciated. Thanks!

-Rob

Yeah the house is gutted on the inside and needs a new roof.. I could do the work myself but I am trying to figure it as to hire it all out.  60K is kind of conservative.  

WOW!  Ok I see I added my numbers wrong!   TOTAL =76K

OK this post is more out of frustration of our local and I guess my inexperience (only a couple flips under my belt) than anything but I would like some help with the analysis..

I got a tip from a friend that knows a couple that had a property in a nearby town that they intended to flip (but never finished).  He got a big promotion and has to move the family out of state ASAP, so they need to dump the house.  Its structurally sound and stripped down to the studs.   I called them up and they said they would let it go for $6,500!

I'm thinking home run until I ran the comps.

First-  The market is still terribly stagnant in our rural area.  Comps 65K-100K (None completely remodeled)

Numbers

1600 Sq/ft  3-2

Purchase-  6.5K

Remodel-   60K

Additional- 9.5K

TOTAL-      74.5K

At this price I would need to get at least 100K for it which is at the top of the comps.  It is extremely frustrating to be able to find a deal like this and still not be able to feel confident in the flip.  What do you guys think?

Thanks

Rob