My friend/advisor with more experience says I am being a cheap knucklehead and that the $20k is not relative when you factor the forced appreciation and income/valuation of the improved asset(proforma), but, I think it is math and $20k is always relative and I have my criteria(4.5cap) and was very transparent about it from when I first submitted the original accepted offer, and my DD uncovered several hidden deficiencies that make the credit necessary to maintain my original underwriting numbers and even though I understand my friends rationale, I don't want to give in any more slack(adjusted to 4.4cap), than I already have...What do you experienced multi family acquisition people think?

Even if the unit over the garage was going to be used for investment, you can only take title after the improvements have been made.

Hello all,I recently received a notice that my Hudson County, NJ property's taxes have been randomly increased by over 8k due to improvements made.

After tearing out my last hair trying to line up a handyman for a job at one of my properties in Burlington, I've decided to use a management company since presumably they either have repair people on staff or a list of contractors who will respond to their requests.

Lenders typically charge a small fee just to pay their staff but most of the closing costs actually come from the title company and some of the fees are state mandated as well.

Once you have better estimates of income, expenses, and cap rate you can be more specific with your NOI and value estimates before and after improvements.

That is a full time job itself and most simply don't have the time or funds to staff such positions. 

@Samuel Eddinger I look at CoC return on investment and cash flow as well as how I think the overall investment will hold up in the long term given it’s location. ie is the location going to improve, get worse, appreciate, depreciate.

The rest would be financed.Based on my calculations...IRR of 48% per year; 15yr holding period.Now since I am the source for this deal and will take all the steps from negotiating purchase price etc; bidding to lease the space, negotiate terms of the lease, oversee the tenant improvements etc.So the main thing the partner is contributing is the capital for down payment.Whats a reasonable partnership split for such a deal?

I'm guessing that finding deals is probably a big one in this market, but I'm curious if there is anything else that would make your life significantly easier if it were solved or improved?