All Forum Posts by: Tina Jenkins

@Caleb Bryant

Do you have her number? Could you inbox it to me please.

I need an off-site property manager for a 4 plex. References required, Previous work history related to managing apartments preferred. Send resume's   Pay is 10% of rents.

What is an opportunity zone pardon my ignorance, but I do not know what it is?

I am aware!

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Huntsville.

Purchase price: $172,000
Cash invested: $10,500
Sale price: $179,000

4 UNIT 4/Plex

What made you interested in investing in this type of deal?

The security of 4 units under one roof!

How did you find this deal and how did you negotiate it?

Online search and I enlisted the help of a buyers agent.

How did you finance this deal?

A loan through Commerce Bank.

How did you add value to the deal?

FHA low-interest loan.

What was the outcome?

I have an apartment and a business.

Lessons learned? Challenges?

Spend even more time on due diligence. Don't cave so easy on negotiations.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, Matt Curtis Real estate and Weaver Holdings Property Management. They were great.

FYI I turned a liability into an asset to get the 12,000 closing cost and down payment. My husbands truck that we use to pull our 44 ft. toy hauler RV from job to job was inconvently struck by lightening a month ago. We paid so much into the principle of that truck that we had push 12,800.00 in equity into it upon trade in. I have never heard of a truck being struck by lightening its almost a God send I was trying so hard to figure out how to get my closing cost down payment for this deal that the minute I stopped trying it slapped me in the face. I was also investing in some stocks that have recently started going crazy that has also helped me attain extra money to assist with fixing the 4 plex up and pushing the rents up more to increase the cash flow. It just goes to show that there is money every where in your life if your looking in the rite places for it.

So to update I am in the underwriting process of the FHA loan and waiting on the appraisal to come back. Quick tip have your own inspection done. The sellers agent gave me a recent November inspection report that the owner paid to have done. Looked ok rite! I had my own done and it greatly differed in damages and items that needed to updated and fixed. However I am looking at it like this if it appraises for less them its either my out! or its his move to come down on the price to accommodate the deal and I can fix up modernize and push equity into the property for a possible future deal.

I decided to owner occupy

thanks guys I got it figured out.

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