.💼 Efficient Operations: Multifamily investing demands effective operations management.

Is it worth fixing up (all properties should be fixed up before moving on to another to avoid repair costs later when you have more leverage) or is it worth selling in an imperfect state for less money (and harder with a tenant).

How much does RemoteLock cost?

If any of you could help me determine what kind of property damage I should avoid either because it costs too much to fix or it is just too difficult/ time consuming (things like termites, gas lines needing repair, roofing, etc.).

I have bought properties by signing a lease option where I took control over the property, made the needed repairs, and then got it financed to cover my cost and what I owed.

The deposit we are willing to collect over the first few months if needed to lower the cost of entry.We are getting some calls, but lots of no-shows when it comes to appointments for showings.We had a lot of problems in the past with tenants bringing in drug dealers, homeless, and various other criminal activities.

How much are closing costs?

The building represented good value and is consistent with my focus on $2M-$5M total cost projects where there is a lack of natural market participants in the Philadelphia market.

Option 3 is to remove the tile and add LVT, maybe $5K cost. 

I was able to use creative financing strategies to get it for 640k with no money down (except for closing costs).