All Forum Posts by: Vitaliy Fylyk

I found a few units that need some work, I'm not scared of that because coming from a construction background and I do have some people that would help me.
The owner is open to Seller Finance and is asking 165k - the owner wants me to offer him what I can pay.
Of course, I wanna offer as little cash as possible that way I could do some fix-ups.
My goal is to offer a deal that won't scare away, it's 7 units for a price of 165k altogether, 2 of them are rented at $650 and $700 a month and the rest have been rented but now are vacant because they need some work, but as the owner says it is in liveable condition. My goal would be to rent them out for section 8.

How would you structure this deal? Also, question do I need my LLC to be registered in PA, or can be anywhere?

It's a property in NYC (Brooklyn) that the owner asks for 5.2m but it won't sell because doesn't make any sense, NOI is 27xxx, 18 units + 2 retail. Even if someone put down 20% and financed 4,160,000 it would still have negative cash flow with current rates obviously. He wanted 35% seller finance for up to 5 years at 5.5 % but I knew it wouldn't make sense for me so I started drawing my offer.
My offer is 2m SF at 0% for 180 months and 2m I borrow at basically 7% for 30 years - which comes out to $13,306.05/m for loan and $11,111.11/m seller finance - now together it its $24,417 (NOI = 27,442-24,417 = $3,025) - very low cashflow but I would be able to refinance sooner or later and pay back the owner full sum, and better pray occupancy will stay at 100% for at least 2 years.
Is this crazy lowball? from 5.2m to 4m? Should I even try? I mean if I refinanced later on at a lower rate maybe then it would make sense - need help from someone with experience

It's a property in NYC (Brooklyn) that the owner asks for 5.2m but it won't sell because doesn't make any sense, NOI is 27xxx, 18 units + 2 retail. Even if someone put down 20% and financed 4,160,000 it would still have negative cash flow with current rates obviously. He wanted 35% seller finance for up to 5 years at 5.5 % but I knew it wouldn't make sense for me so I started drawing my offer.
My offer is 2m SF at 0% for 180 months and 2m I borrow at basically 7% for 30 years - which comes out to $13,306.05/m for loan and $11,111.11/m seller finance - now together it its $24,417 (NOI = 27,442-24,417 = $3,025) - very low cashflow but I would be able to refinance sooner or later and pay back the owner full sum, and better pray occupancy will stay at 100% for at least 2 years. 
Is this crazy lowball? from 5.2m to 4m? Should I even try? I mean if I refinanced later on at a lower rate maybe then it would make sense - need help from someone with experience