Jared Garfield
If I Were Starting Today: This Is What I Would Do Differently!
10 June 2016 | 21 replies
We still laugh about the 80's TV commercial with the middle aged woman telling her husband that she wanted not jewelry but Sheets' course as her gift."
David Troup
Advice on potential purchase
24 June 2011 | 12 replies
That vintage of a building you would need to really look closely at all life expectancies.I can tell you from listing property and selling as a commercial short sale what generally happens is this.I find owners that are upside down in debt service are treading water.Even if they own other buildings if they were all bought during the boom times they don't give out enough money to break even.If you purchased more buildings during earlier years the debt service and properties are most likely not upside down.Older buildings like that need constant repairs over new product.What most owners do is the bare minimum of patch and paste to keep cash flow going.I would want to see the rental history of how long the tenants have been there.Asbestos is a biggie and so is lead paint.When you turn a unit meeting the new EPA lead certified rules cost a bunch more money and you have to use certified contractors.So during due diligence I would get testing done to really see what I am up against.Land was more plentiful back in the 60's and development was more spread out.Landscapes change over time so if this property has a nice chunk of land it sits on you might be primed for redevelopment as a value play down the road.Seller paid utilities are a killer and all my investors hyper focus on it for multifamily as they see it eating into their bottom line.They see if they are holding ten years and have 5 year financing what happens when utilities skyrocket and they have to refi into a higher percentage rate loan.They will get squeezed from both ends.If they get hit with heavy repairs and turn rates they will get hit from 4 different angles.These are the items on my investors minds that buy into the hundreds of units at a time down to 20 to 30 units.Most do not like to go real small as the financing is harder to obtain as many commercial lenders do not play in the smaller space.The bank wanting to finance the deal sound like a small to mid size bank.They want a higher price of course to preserve margins and losses to the books.Bigger banks usually just want to shred the price and sell cheap to get it off the books at all costs because of the large volume of new loans they are doing they are better underwritten.Remember future repairs on older vintage buildings will eat you alive for cash flow.Also it might be a C age building today but when you sell will be a D age.On exit you have to plan on selling for a higher CAP to compensate.If the market is stronger then great but if it's not your plan and expected returns will be inline with each other.Hope it helps.
Rafael Garcia
Selling gold to buy a home
18 November 2011 | 11 replies
I think gold jewelry would be considered collectibles but coins or bullion would not.
Chris Tracy
Anybody here use Instagram?
1 May 2018 | 7 replies
It's a great way to attract the right people and create real connections—I've met many of my "Instagram friends" and connections in real life—be it real estate or other.For me, I post a lot about jewelry design which is one of my hobbies, but I also share on travel and the local area where I invest.
Jacob Edmond
Master bath with 1 sink?
21 July 2015 | 11 replies
It is very dated but we are ripping out all of the faux wall paneling, doing all new trim throughout, and completely gutting the kitchen, among other things.
Erin Malone
Can I keep honey oak cabinets in rental?
23 October 2019 | 24 replies
I put in all new appliances, painted it completely, and added faux wood blinds.
Jason Graham
Mobile Home Park Valuation / Purchase
30 June 2020 | 28 replies
The oldest mobile is late 70's with most of them 80's vintage and the double wide 90's.I see another opportunity in replacing the single widest with doubles and increasing the rent.
Tom Goans
New Bubble
14 June 2013 | 32 replies
Personally, I look to see how new the automobile(s) is, if they are wearing designer clothes, and if they wear jewelry.
Maureen Hannan
I want to sell a private mortgage note
16 June 2013 | 50 replies
The vintage or age of the loan.
Cheryl C.
Spray-on Granite?
23 August 2012 | 11 replies
Link to non-big-box:http://www.dannylipford.com/diy-faux-granite-finish-for-kitchen-countertops/Google search will turn up many related links ...