Grace Wang
Finally got my first deal under contract, but start self doubting
I saw a expired listing for a 4-plex on MLS, and the asking price was 285,000. The first thing jumps out at me was this is the first 4-plex in the area that is under 300,000, The quoted rental income was 780/unit/mont...
Blake Wash
Eviction for non-payment in Minneapolis
Hello I just acquired 30 units (Multi-Family) in Minneapolis. I was informed that if a tenant is delinquent they have UP to 60 days before eviction. In Texas this is typically 30 days. My concerns are due to the neigh...
James Syed
12 unit Building Valuation
Hello BP Members, I am interested in purchasing this 12 unit building and would appreciate if members could assist me with purchase price. It's an off market property and Seller has passed away and his family doesn't ...
Neel Patel
Tips On Closing On Multifamily Deal
Hey everyone, I got my first multi-family deal by called calling the owner and need some tips on how to negotiate the deal. The owner is currently asking $1000000($83333 per unit) for 12 units brick apartment in a rur...
Steve Sapowsky
20% Seller holdback to eliminate PMI
Can a seller hold 20% of the mortgage as the down payment if the property is not paid off? Could I offer the seller $40k higher than asking price and have that profit go into the deal as the down payment? Keep in mind...
Samantha Miller
Lesson learned. . . seeking encouragement
Hey BP. I wanted to share a tough lesson learned, partly to help others learn from my experience and partly to seek any words of wisdom/encouragement. :( Thanks in advance!I am just 2 weeks from closing on my first p...
Steven Haskins
FSBO wants to get out of realestate market, what do I do?????
Hello Everyone, I have been grinding my wheels for about two months and finally my ship has come in. I met a gentleman who owns property here in St.Louis, he cannot do the management or upkeep his buildings anymore...
Joshua Costa
Purchasing a legal fourplex with five units
hey guys I've been in the background reading a lot of blogs for a while. I have learned a lot and I'm about to make an offer on my first multi. So the details on the property are that it's a legal four family but th...
Paul S.
140k at 1,250 rent
There are many properties for sale in my region, but may not cash flow. Here is an example (remember that this is California)
$140k for 1,400 sq ft
3 bedroom, 2 bath
Rental rate = $1,250 a month
At 20% down, that w...
Jenn Kampmeier-Aaron
Work truck was sued for advertisement but my neighbors were not
I was sued for three reasons:- Operating a home business out of my home.- Having a work truck in my driveway- Having decals/advertising on the work truckBackground:I live in the State of Indiana and have lived in my s...