All Forum Posts by: Yiftach Ilyov

Hi, I am currently wholesaling in a few different markets that are very different from one another.

im looking at Indianapolis as my next market and was hoping I can ask a honest question:-) 

in the cleveland OH market that I am working in the spreads are anywhere between 5k to 15k, on the other hand in Tampa Florida it can be anywhere between 20k to 80k. Where is the Indi market? what kind of spread do you see there?

I know its an old one but still relevant, does anyone has a good PM co to recommend ?

This is how good deals are made.

It sounds like money is not the biggest  motive behind her decision and you are adding value by being nice and thoughtful. 
You can give her the entire picture-

Tell her that if she put it on the market she may get more for, commissions will be paid by her, closing costs, sellers and inspector will walk the property more than once, her tenants will probably get bothered more than once and a lender will be involved in the transaction as well.

Or she can just deal with you and get it over with.. give her all the options and let her chose

But again, doesn’t look like her motive is money. She called you, not a realtor .

@Evan Polaski thank you for the input!

$100/sf is crazy for sfh! Is that the standard in Cincinnati? And I thought here in Tampa people go all out!

Would love to see pictures of this kind of renovation if you willing to share

@Scott Mac thank you! appreciated the answer very much!

I have my allowable budget per unit pretty much set, trying to see how close to reality it is

Hope all here are doing ok and stay safe!

I am looking at an 8 unit property, 10,000sqft,  that is vacant for 12 years. 

property is in Cleveland, was vandalized and will need everything done - plumbing, roof, electrical , mechanical, windows and of course everything cosmetics.

I was hoping to get some insights from anyone who did such a project mostly in regard to cost.

Seller is VERY motivated and basically selling it for cents on the dollar, rents in the area can be VERY high and im very confident in the underwriting of the transaction - only thing that is missing for me is the rehab cost.
im scheduled to speak with contractors next week that specialized in this kind of projects but wanted to hear personal experiences before.

absolutely not looking to get an exact number - just a feel of what should i expect.
I figured if I'll send 37.5k per unit(300k rehab budget) I have a really good deal.
If I'll spend 20k per unit(200k Rehab budget) or close im knocking the ball out of the park.

How far fetched  are those numbers? How optimistic/pessimistic am I here?

Any constructive opinion will be much appreciated !
Thank you

Hey!

I have 2 two family properties I recently purchased and im looking into converting them to a single family.

Does anyone has any experience with that or know anyone that has experience with that?
Any architects recommended that has experience with those kind of conversions?

would love to buy someone Lunch:-)

I did not @Daniel Haberkost

I have a multi family contract with a potential buyer looking to purchase the property with financing.
its a bigger property with bigger numbers and an assignment contract is not the way I want to go.

is it possible to double close with a mortgage and if not what different alternatives I have for restructuring the deal?

anyone has experience with this situation ? anything I need to know before I sign a contract?

it worth mentioning that my contract with the seller doesn't dictates in words my method of payment and the property has more than 4 units so its probably gonna be a commercial loan

Bigger pockets do your magic !

LMFO

I laughed so hard... I COMPLETELY understand. won't move there for sure, just conduct business.