All Forum Posts by: Alex Babayev

Hello, 

I am located in Atlanta, GA looking to purchase 5 Separate townhouses in same community. 

$115k per unit x 5 units = $575k - I am looking to put down 10%

Anybody have any recommendation on who I can reach out to for this type of financing?

Thanks!

Hello All, 

I am getting into my first multi family duplex an triplex properties. I have identified properties and ready to buy however I am looking for a 10% down payment option. Talked to big banks they all want 25% down payment. 

Any advice how to get funding with 10% down payment on multi family property?

My price range is 130-150K

@Steven Payne & @Ray H. - THANKS FOR YOUR ADVICE!

Hello, 

I am planning to go and bid at the courthouse steps for a couple properties I am interested in. I have never done this before, previously I have bought regular short sale, foreclosure proeprties that have gone through a traditional closing process. 

I wanted to get advice on some proper precautions to take. Meaning how do I know if the property has contractor liens, unpaid utilities or any other debt attached to the property?

Is there a service I can hire to tell me this type of information? So I can price this extra expenses into my bidding price. 

Thanks in Advance.

Hello All, 

I have a dilemma that I wanted to run by you all.  

I have a 3BR 2BA 1,200sq ft property that I bought 1 year ago and have had rented since. When I initially bought the house I did not spend any money except for my initial investment 

Purchase Price was $110,000 down payment amount was 5%. Out of pocket initial investment was around $14k.

Property has been rented for 1 year for $1,250/month,Monthly mortgage and all expenses is $710. Positive cash flow from this property has been $540/month $6,480/yr.

Now current tenants lease is expiring this month. I come to my dilemma of Should I Remodel and Rent or Remodel and sell. This question is important because depending on which route I take the renovation budgets will be different. Remodel and Rent remodel budget will require about $3.5k investment. Remodel and sell option will require $8k investment. 

I am scared that I don't want to put more cash into the property for repairs , have the property rented and then have tenants ruin the remodel and then have to invest more money. 

Price appreciation has not been great in this market after remodel and sell option renovation of about $8k I can probably sell the house around $135k.