All Forum Posts by: Tony Mai

Great job let us know how the refi goes :)

hi sean, I'm interested.  can you send me more details at [email protected].  thanks!

The answer to this question is what is your goal? If you plan on staying in the area for a long time and want to self manage then fix it and live in it. If you don’t want to self manage, hire a property manager. Save your time and money and invest somewhere else. If I were you I would fix it and then hire a property manager. I hate leaving money on the table. The improvements will increase your cash flow and decrease your headaches. I think that’s a win win.

looks great from the pictures :)

If your putting 25% down I assume, the numbers look good. The only thing that may get in your way is the rehab might cost more than expected but your cash flow is good enough to cover the cost.

Justin Make sure you willing to walk away if this doesn't make sense. Try to negotiate a better price. It dropped 10k and the sellers are motivated. Also make sure you get a really good home inspection. Do your due diligence about the rents. As far as building and extra unit in the back. See how much more money that may take the. How much rental increase that would provide. Sometimes it's better to save the money for the next deal. Have you ran your numbers? What's the cap rate? Does it cash flow? Did you account for vacancy and maintenance and capital expenditures? Hope this deal works out otherwise move on to the next one.

It's a fad short term because it's not fully polished but it will be the future when it is polished. Take the iPhone for example, if u asked someone in 1980 if a iPhone is a fad or the future, most will say fad, now we are waiting for the iPhone 8 to be released. If this was houses to invest in, probably a bad idea because something always goes wrong. Until it's proven and polished then it will be the future

You should build the garage. There will be more buyers and increases the chances that it will sell fast with a garage.

Hi Alexis Ok this makes sense now. I looked at this last night and I was like how is the mortgage 13k but if your paying over 15yrs yea it looks about right. I just want to add the pro here is IF you moved forward, you will have a paid off multifamily in 15yrs. If the purchase price was lower, rents raised, and mortgage was extended to 20 to 30 yrs this deal will cash flow better but if your looking to cash flow positive from the get go then, no this deal surely won't, but your calculations look right :)

The contract is your offer. You decide what which contingency you want to put into place. Like an appraisal contingency, where if the property you are buying does not appraise for the purchase price then you are legally able to cancel the contract.