All Forum Posts by: Behrooz K.

@J P. I mean spreadsheets are so easy to make why not add all the details. If you don't want to use that field just leave the value at 0. 

By spreadsheet 2 if you mean a second sheet, you can use multiple sheets if you find the sheet getting more crowded than you're comfortable with. Perhaps one sheet with all the details and second sheet for totals. 

I find with my own sheets that they've been getting more and more complex the more I analyze deals so if I analyze a deal that requires more detail I update my template in case i run into a new deal which requires those details. 

@J P. your spreadsheet is nice. If you keep the fields separate (instead of combining for instance cash down and closing cost) it will be more clear and more informative. And then use formula fields to get sum or percentages, monthly, annual, etc. I think it will still be even quicker because you don't have to do any math yourself. 

For ARV check the zillow estimate (they are usually higher than actual ARV). And check recent comparable sales. Also check the estimates on properties renting about the same.

A house I rented in Port Washington had mold in the lower part of the walls in the basement. Port Wash has a high water table. The house had a sump pump in the basement which would kick in whenever there was rain and the water level would rise. I bleached the walls and put an air purifier running 24/7. I never saw mold again for the next 3 years. Until Sandy hit, power went out, basement got completely flooded and ruined my furniture. I moved out 6 month later when my lease ended. 

Mine was an extreme case. If the property is not in a flood zone, and the mold buildup is light (and I assume it is because it's just the bottom of the wall), a diluted bleach solution can get rid of it. If there's a lot of mold you may have to replace the drywall. Keep ventilated when applying bleach solution and use face mask. That stuff can do serious damage to lungs. 

I bookmarked an auction yesterday. This morning I watched it getting bid up ever time there was 10 seconds left and the ticker would change to "Going Once". Then it would add 2 minutes. Then this would repeat, each time it got to 10 seconds going once, it would get bid up. Then 2 minutes added. This went on for 10 times and it still hadn't reached the reserve price. I doubt that some person was sitting there biding it up exactly when 10 seconds was left. It seemed it was an algo bidding it up. I finally gave up watching as it kept adding 2 minutes each time and I had no idea how long this was going to go on for. Just now when I went back to the bookmark to see what happened, the page doesn't exist and redirects to grid list of all available auctions. So I can't even see if the property reached reserve, or sold or what. 

If my observation is correct and there is actually an algo bidding up below reserve auctions when 10 seconds left, I don't know if it's illegal but it's definitely unethical. Same goes with not being able to see the auction results. 

Welcome Temie! It certainly is never too late!

@Account Closed so having a separate subsidiary LLC for each property would protect the rest in case one faces a lawsuit? Or is the entire LLC still subject to the lawsuit?

Welcome Eran.

@Benjamin Necci. the minimum is $1000.

Very interesting article. Thanks for sharing