All Forum Posts by: Adam Wigdorski

What would you pay for a Canisius College 4 bed 2 bath 1900 sq ft college rental. Everything has been done inside and out. Paint, floors, fixtures, plumbing upgrades, counters, etc.

Net Operating Income is 14181 a year

14208 zip code

@Josh Klemenich

Welcome. I’ve been investing in Buffalo since 2013 and have 30 units. It’s going to be a wild ride with ups and downs but you have to remember something. Real Estate investing is not sexy but it’s long term stability as long as you manage it correctly and don’t get emotional. You get over bid you get over bid. Don’t go full tilt on the next one. Stick to the math and don’t invest want you can’t afford to lose or pull back in equity in the future. There are still plenty of cash flowing properties in Buffalo and the surrounding areas but you have to be surgical. One year I looked at over 100 houses before I received a signed contract. Be patient. Don’t over extend yourself. Don’t calculate cost based off you doing the work if you don’t have time to actually do it. If you don’t want calls and can’t do after hour service calls get a property manager. Any questions reach out. Good Luck

Hello all,

So I've acquired a couple mixed use properties. I have a current management company in place for the apartments on my other space. The commercial non apartment spaces will be 5 year NNN leases. Would you still pay the management company the same rate to also manage the commercial spaces on the long term leases ? Right now I pay 8% for the apartments. I'm also very pleased with the management company and don't want to cause heartache over any of this. They are using an outside leasing agent for the commercial space and not taking a cut of the leasing fee

@Brad Gibson

Personally they sound like **** terms

My commercial bank (upstate bank) does this on both cashout refi and acquisition :

5 year interest rate reset based on fhlbny 5 year plus 3%

25/25 term/amortization

80% ltv

Rate - 3.95%

5-4-3-2-1 prepayment penalty - na if you refi with them

@Nick Peters

Sweet yeah I just tested that. Is there a way to make the goal seem happen automatically so you don’t have to do it manual all the time

For the life of me I cant figure out how to write the formula. I have a simple spreadsheet I use to do a quick analysis of any long term hold Anyone know how to write a formula that will tell me based on a fixed cash flow number what me max offer would be? ie max offer for a fixed monthly cash flow of 1000 . I have all the other variables to where I input a purchase price and it tells me the cash flow. but I cant figure how to work it backwards because of the pvt function

@Kyle A.

I pretty much have a guy for everything in buffalo. Pm me what you are looking for

@Alex Leana

I have great tenants in the city.

@Alex Leana

Yes the suburbs of buffalo are tough because of the taxes and lower rent than the city.

@Hai Loc

Bro you need to check out the granite shop on Niagara Falls Blvd in Niagara Falls. They buy direct from the quarry. They always run a special 34.99 soft installed. Level 1 colors are 39.99 sq ft installed. Granite.they have quartz and marble as well