All Forum Posts by: Abad Marroquin

I bought a 28 Unit apartment in 2018. I have updated 90% of the units, raised rents and increased the NOI. Interest rate is 5.5% with a balloon payment of 5 years (2022). Is it a good idea (if possible) to refinance with better interest rates and pull money out to continue investing? On the the other hand, these properties are D class. 2/1 brick duplexes with gas wall heaters and window units. These properties are cash flowing nicely, but Sometimes I think it's time to 1031 them to buy other properties and repeat the process again. What would you do in a similar situation? Thank you in advance for your input.

This is the first time I am planning on selling a commercial property. How should I prepare to get the max out of it? Of course I am pushing rents up and making the units look good inside and out. What else should I do in order to maximize my profits? Also what percentage for agent commission is common on a 1-3 million   property? 

I am buying the lots, about 4 mobile homes, and 4 contracts on the financed homes but there's no much left to pay probably $3K left.

Paula Sofía I am using a local bank for financing. It’s not a park. Is that good or bad? 

Update: Of course it depends of what the lease says. I read 4 leases that the owner provided. He said those are the only one he has. Theses leases are the purchase and sale contract of the mobile homes he has owner financed to tenants. It shows the date of the purchase and sale contract, the of sale price, the monthly payments and the amount for lot rent. But I don't see where it shows the date when the lease for the lot ends.... If the lease does not have a end date how can I prove that the tenants are on a month to month lease therefore I can raise the rents? Please any advice will be helpful!

Hello friends at Bigger Pockets. I am buying 18 mobile home lots in trailer park (mobile home park). It's not the traditional mobile home park where the owner owns all the lots. In this case, someone developed a mobile hope park and sold the lots to individual people. Throughout the years this guy acquired 18 lots and about 9 mobile homes 4 of which he has owner financed to tenants. Most lots are rented at $100/mo. In nearby parks lots are rented at $250-$300/mo. Tenants pay all utilities. Owner pays property taxes for lots. 

The purchase price at this moment is $285K. At this price my cash on cash is about $11%. My question is can I increase the rent from $100 to $300 a month on each lot? I'm just making sure I don't do anything against the law. If I can do it, it will increase my cash on cash to at least 30%. I probably should ask an attorney, but I just thought I could ask the BP community and see if anyone has done something like this in GA.

I am in North Georgia an South east TN and I am easily finding multifamily deals that meet the 1% or rule or higher. Right now I am seeing a 7 plex. Each unit is 2/1 and each rent for $600/mo. Asking price is $325k. If you divide rent $4200 by purchase price $325,000 you get 1.3%. Cash on Cash 13%. Purchase cap rate 9.85%. Appreciation here is not as high as other areas that's why it is easier to find deals like this. 

HI everyone. I am a real estate investor in Chatsworth, GA. I am looking for an accountant that understands and can apply all the tax benefits real estate offers. I prefer one that is a real investor him or herself. Let me know if you know anybody in the area of Dalton, Calhoun, Ringgold GA and the surroundings. 

Thank you!

Is this still available?

Thank you to you guys and BiggerPockets!!!