All Forum Posts by: Simon Obas

@Will Fraser sounds good, thank you.

Greetings. I just got an inspection report back for a 3 family I’m in the process Of buying. Please see a brief excerpt of the report below. After reading it, let me know if this is a deal breaker and if I should walk away.

“Evidence of past termite activity was noted in the garage during the course of the inspection. The range of the termite activity cannot be conclusively determined by the scope of this inspection. It should be noted that it is possible for structural defects resulting from insect damage to exist in non -visible or inaccessible areas. Treatment is recommended”.

Greetings y’all! How much should I put down if I am going to do seller financing? The house is a duplex for $299,000.

@Rachael Agruso thank you Rachel. I appreciate this. Also, if you don’t mind sharing the services you used to find tenants, I would greatly appreciate it.

@Michael Robbins thank you

@Steven McCutcheon thank you

Greetings! I would like to know if I should proceed with a house that I just got my offer accepted for. Read below and then please lmk your thoughts. Thank you.

•3 family home/will be my second house Hack

•Selling price : $322k ( I dont believe it’ll appraise for this price)

•Comps: $315k

•rents $11-1200 for the 2bed units 

900 for the 1 bed unit. 

•see the description below

Newly renovated West End 3-family with 3-car garage! Granite counters in 1st floor unit (ideal for owner/occupant). NEW roof with 50-yr warranty and new seamless gutters. NEW hardwired fire alarm system and fire rated doors. NEW thermopane windows throughout. Refinished hardwood floors, tile flooring in kitchens & baths, updated bathrooms, and NEW kitchen cabinets throughout with stainless steel appliance packages. In-unit laundry for 1st & 2nd floor units, 3rd floor unit laundry hookups in basement. Plenty of off-street parking space. Natural gas hot water heaters, separately metered gas and electric utilities. 1st & 2nd floor have original fireplaces. 100 amp electrical service with owner's meter. Freshly painted inside & out.

Greetings. I’m interested in purchasing my second three family for house hacking. My offer got accepted at $322k comps are $315k. Rents go for 11-1200 for the 2bed units 

900 for the 1 bed unit. See below for house details. (I also don’t think the house will approve for this price). MY QUESTION is, this a bad deal?

Newly renovated West End 3-family with 3-car garage! Granite counters in 1st floor unit (ideal for owner/occupant). NEW roof with 50-yr warranty and new seamless gutters. NEW hardwired fire alarm system and fire rated doors. NEW thermopane windows throughout. Refinished hardwood floors, tile flooring in kitchens & baths, updated bathrooms, and NEW kitchen cabinets throughout with stainless steel appliance packages. In-unit laundry for 1st & 2nd floor units, 3rd floor unit laundry hookups in basement. Plenty of off-street parking space. Natural gas hot water heaters, separately metered gas and electric utilities. 1st & 2nd floor have original fireplaces. 100 amp electrical service with owner's meter.

@Jeff Copeland thank you

@Filipe Pereira Hi Filipe. Thanks for responding. You always have good advice. I was wondering if you can help analyze a deal. Specifically, I’d like to know if the house is worth me paying for what I was approved for., plus what I will be able to rent the units for. Can you help me out?