All Forum Posts by: Stanley Parsley

welcome aboard

best advise I can give you

go purchase a property

now the how to is up to you

get er done son! you can find all the info and networking you'll need here on this site

enjoy

all these are great posts

Ill tell you a little story that happened to one of my buddies

he did the mail thing

low and behold someone got a letter that was an attorney that worked for a civil rites group

the attorney turned around and found every fraudulent claim in the letter and went after buddy

after tying him up in court over a frivolous claim, he lost his shirt and also ended up with a record for fraud

fair warning if you are going to send out bulk letters claiming something, you better have an attorney look over what you are claiming

"the risks fools take to make profits"- twain

enjoy

what ever you decide to do will be a great plan

if it were me I would rehab the house refi the house invest into another like property, hopefully you bought below market value

that way you are onto investments that are paying you more than any mutual fund could

plus you are building a nice portfolio

enjoy

boiler heating is one of the most efficient when it comes to heating

it may need new controls on the baseboards or thermos stats

in PA I'm not sure if you need AC ceiling fans my be the way to go especially since it is a older building

to do a complete change your looking at the neighborhood of 25-35k

find your self a old boiler guy and have him/her go through the system to make sure all the zones are working properly and have them service the boiler since it probably has not been done in years

enjoy

sounds like a good deal if you can pull it off

you would have to do some infrastructure work to make the units pay for there water, plus going to mini slip units would reduce energy from the window units

raise the rents to what is current for your area and re crunch the numbers plus add the upgrades to see where you are sitting with the cap rate

at this point your looking at 30k per unit

I'm not sure if this is a good deal in your area

look at improvement costs, reevaluate your upgrade costs and do a comps per unit in your area

this should give you a better idea if you want to continue on the purchase

enjoy

look at your best return

take all the emotion out of the equation

if you can move to a red hotel then make it happen, if you need another green house then that may be the way to go

you have leverage so use it to your best interest

you may even be better letting it run and buying something outright, depends on your capital situation

enjoy

maybe look at doing something along the tile side for durability

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I have to agree with scott, spaghetti sauce never really stands the test of time

but for a different look it does add a touch of spice

enjoy

welcome aboard

sounds like you are going to take the game serious

good for you way to get out there and make it happen

enjoy

nice your from Tucson

was just down your way Wednesday

looked at a couple places and some commercial properties, man they been working on the roads there forever

so for a flip-zero dollars if you structure the deal right

wholesale-zero dollars if you structure the deal right

so what I'm saying it depends on your comfort level and your negotiating skills

if you have decent credit go ahead and cutsheet a property and do a rehab/flip

for wholesaling your gonna have to have a list of buyers so when you tie the property you can unload it

if you want to go the safe route first flip get ahold of about 20k that should get the capital you need to get in and the financing to complete the project within 90 days

enjoy