All Forum Posts by: Anthony Ryan

Kuba F. Thank you so much. Exactly what I was looking for!

Kuba F. I think I need to come at this from a different angle. I 100% nothing beats getting inside the home to properly calculate rehab costs. I guess my question should be, how do I do a preliminary analysis to determine which properties I want to take a deeper look at. Of course I'm not gonna get inside every property in the market.

Bob Okenwa Thanks for the response Bob. To clarify, the book you recommended would allow me to formulate a decent estimate based solely off of looking at pics on the MLS, or would the methods in the book require I went to the property? (I'll check out the book either way👍) Oren K. Very good points! Might it still be useful for the investor to have the preliminary analysis done on everything but rehab costs? From there they could estimate the rehab costs themselves, plug them into the template I create, and instantly see a cash flow, and a return estimate.

As a real estate agent, I think it would be a good idea to run at least a preliminary analysis on as many multifamily properties found in the MLS in my target area (greater Buffalo NY area). My concern is, how do I account for potential rehab costs? I have a contractor on my "team" that can assess the costs when doing a final analysis. I'm just looking for an idea on how to do a preliminary analysis to show potential investors.

Do I:

1. just include a wide best estimate (ie 20-60k and  show what the return would be for a number of different values. Keep in mind  when doing the analysis, I'll only have a handfulof pictures (if any) to go off of.

2. Leave them out conpletely (not sure how valuable of an analysis this would be)

3. Something else

Thank you in advance for any help you can offer!

Paul Bowers Hi Paul. That's not a bad idea. Unfortunately my network isn't strong enough to help my investor find private money. It might not be a bad idea to mention this to him though in case he has a connection. Thanks!

Perry Farella Andrew Postell Thank you both for your responses! Just to clarify, can my investor get a loan based on the assessed value after rehab, or would he just be better off putting the 15 - 25% down and funding the rehab with his savings? As a reminder this is not going to be owner occupied. Thanks again! Tony

I am a real estate agent trying to find a deal for an out of town investor. We are looking at a duplex priced at 30k that he plans on putting about 20k into. My question is, what's the best way to finance the deal? He has 20k is cash, and wants to finance the rest. Should we put 20% down and do a cash out refi once its rehabbed and re-rented? Should he try to come up with the funds to buy it all cash, and just finance the rehab. Also, quick question. Does anyone know if his personal credit is used for approval purposes, or is it primarily the income of the property that's considered? (This last question is more of a curiosity than a concern). Any advice on how to to find this information out myself would be helpful too (ie who to call, and how to get someone on the phone that will talk to me about this kind of stuff. I'm in the Buffalo NY area if that helps. Thanks in advance for any help you can offer!