All Forum Posts by: Zack Ak

Hi..

I am in NY area. I and my partner- we are currently looking at a property with a 2family structure on it. The property has the zoning to be build up to 7 floors...but we can not find any comps in the area for such a building, since most of the buildings are 2-3 families and some distant coops.  We would appreciate if you can suggest a few ways to value such a building... 

Hi..

I am in NY area. I and my partner- we are currently looking at a property with a 2family structure on it. The property has the zoning to be build up to 7 floors...but we can not find any comps in the area for such a building, since most of the buildings are 2-3 families and some distant coops.  We would appreciate if you can suggest a few ways to value such a building... 

Hi

my questions is about refinance... We have a house and looking to rehab within 2 to 3 months. After rehab, we would like to get appraisal done and refinance as it is in BRRRR strategy... (without renting) . Thinking of flipping it. I got into a discussion with a local bank within the area. They said, if we refinance within the same year, they value the house at the purchase price..not at the new appraisal price.... I wanted to take BB investors opinion on this hick up... .. is it possible to refinance at the new appraisal value soon after the rehab..

thx

Hi..

i came across a property, and i appreciate for any input you may have

Info:--------------------------------------------

the sellers Real estate agent said..

2 family home

in its current situation the house worths $308k

the seller is asking $250K

the house has tenants producing $3800/ month

Comps:

The houses rehabed afew blocks down  sells around sqft/price $207-$262

  i talked with another real estate agent he said 3 families run around $400k

Even though this one is not a higher end, it is being asked at $262/sqft

Questions:

Does this deal makes sense?

**the owner is interested in half cash and the half in holding payment

what are the ways to finance deal? ( with HML, Mortgage, creative financing)?

thanks for  for any suggestions

Yes..sir... the for thx advise..

I am exploring my options. The intentions is to keep the property as rental...I was thinking HML to close the deal.. and within short period turn it to mortgage... I am a new bee...just wanted to hear other options and if this is the right way to do it..

Hi 

i am working on an offer the house is 3 family

asking price is $250K   repairs will be 100k

cap rate similar homes 7-8%.. according to my calculation i came up with 10%

the rent as the sales agent says per unit $1800-2000

C class

i intend to go with hard money lender...at 65% of ARV.. -100k repairs The sales agent said, the ARV would be 400k for this particular home... some comparison homes are alittle higher 450 to 550

what do you suggest the offer on this property should be?

or is it safe to go with asking price?

Hi ..a new bee here....

I have recently located a vacant lot, which once had a  5 bedroom home. After fire, the city knocked it down.  The lot is irregularly shaped around 2200sft...

According zoning a multi family can be built.

Like i said..i am new in real estate arena..and came across with this lot.. thinking of buying the land in cash...applying for fha loan...(maybe modular home loan).. i was planning on holding the property as rental... once it ia built..

. the sewer electric gas is  at the property

Please advice if an irregular lot or alot is wise to get in or should i be looking for a fixer upper?