All Forum Posts by: Todor Ialamov

@Jayson Cain

Happens all the time, Jayson. I have partnered with a lot of my clients on different deals.

@Jason Regan It is a great market. Prices are starting to climb up, just like everywhere else, but you could still find some great cash flowing properties.

@Sabrina Sanchez

Thanks Sabrina, see you soon!

@Austin Charlton It really depends what your goals are, Austin. If you are looking for some complimentary income buying cash might be a good option. If you are trying to achieve financial independence and create generational wealth, the more leverage you have, the better (in my opinion of course). Interest rates are still in the 3's while inflation is close to 7%. Bank loans are more assets than liability right now. Make sure you put it into cash flowing properties. Good luck!  

@Austin Sanders. This is a great Holiday spirit Austin. I would not give them rent back for you might set expectations for the future. I get my tenants an Amazon gift card. It seams they really appreciate the gesture. Kindness alway go a long way!

Happy Holidays!

Investment Info:

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

Purchase price: $415,000
Cash invested: $103,750

3 family with 3 bedrooms each

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

MLS. They had showings scheduled every half an hour for a full day. I was the second one to get in. Had my laptop with me and submitted an offer around noon. Went back and forth a few times and had it under contract by 4pm

How did you finance this deal?

Conventional

How did you add value to the deal?

Evicted one tenant and rehabbed their unit ($10K). Created a fourth bedroom in every apartment.

What was the outcome?

Sold for $155,000 profit two years later, while cash flowing $1,600 a ,month in the meantime

Honesty is the best policy and the truth is the easiest to remember. I know, we landlords are typically viewed as evil millionaires, but remember, we provide something that is really, really needed - housing. As long as you take the best possible care of your units and your tenants you shouldn't be hiding. The LEASE is your best tool. Have a strong, detailed one always go over it before tenants sign.

Investment Info:

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

Purchase price: $392,500
Cash invested: $98,125

Four Family - Three 3/1 and One 1/1. The three bedroom apartments were updated but the basement one bedroom one was stripped down to the studs in need of a full rehab.

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

Great price. Large deleaded apartments. New heating systems, windows and roof.

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

MLS. A client of mine wanted to see the property. It was not a good project for him, but I liked it. Found out from one of the tenants that they only had two parties seen the house. Made an "optimistic" offer and was able to purchase it.

How did you finance this deal?

Conventionally + private money for the rehab

Lessons learned? Challenges?

When you are an agent and investor you could potentially benefit from every property for sale by either helping your client buys it (always priority) or add it to your portfolio.

@John Brodeur Valid points John. I should have disclosed that lenders generally don't allow conveyance. Most investors in my observations are doing it anyways, though. Technically if I am not wrong they could force the loan on you, but I have never heard it happen.

No problem. Good luck Tracy!