All Forum Posts by: Brad Kaiser

I love your website. We looked online at the Addison homes by the Swamp Rabbit trail in northern Greenville county (I think that's right but can't remember the name of the neighborhood) but it was already sold out. 

We're from Spartanburg but Greenville is such a great place to live with so much to do. 

Are you rehabbing units to make them green? I'd love to know more about making any communities more green-friendly. 

He listed an annual income of $15,120-Maintenance of $2,000 and taxes at $1,358 (which I found to be $1,398) and Insurance at $450. The building is over 60 years old. I have no clue what maintenance really should be on a unit like this which is why I asked for the breakdown of expenses. I don't want to mow the lawn or be the "handyman"any more than necessary. 

I'm lucky even one listing shows up in my area much less 4! I've already started the due diligence to try and pry more information out of the seller to know how he arrived at those figures. 

So this listing showed up less than 24 hours ago. What do I need to do to get my own numbers? I already looked up the taxes. The tenants are under lease and the rents are published. I've requested a showing knowing that I needed to give 24 hours notice. I have asked for historical vacancuy rates, utility obligations, property management expenses (if any) and a breakdown of their maintenance expenses. If the current owner is fixing everything and doing the landscaping on their own, I want to know.

What else should I bee asking?

I agree that is sound thinking. I'd rather finance to save the cash for when the market does go down but right now I have so much invested in stocks that I would like to move some of that to RE so when there is a stock market correction I won't be hit so hard. I can safely say that I am in between the two scenarios but the net effect would reduce returns from equities. 

I'm looking at a low cost, multi-family property with a NOI of $11,312 (seller's figures). The asking price is just under $100k. If you had the option of paying cash or financing, which way would you go? I'm looking for an ROI of at least 12% for this unit.

How close do you expect the asking price and ultimately the selling price to be in relation to the county assessed value of land and building and what are the factors that create the difference between those numbers? 

Thanks for the tip. Had I only seen that yesterday I could have travelled to Columbia for a workshop with Greg on house flipping! Great advice. 

I'm open. Seems like the best place to start is in your own neighborhood/city to avoid complications. We would really like to make investments that will pay off later so I'm still trying to understand market appreciation indicators. For example, is it better to buy in markets like Asheville or Greenville where they have already experienced substantial growth or invest where we are now where prices have not inflated but rather stayed steady? 

Ready to read, listen and learn! We've heard three podcasts so far and have the books. Much more material to digest than time in the day!

We started looking at foreclosures for the undervalued prices. We would like to BRRRR to start a portfolio of homes. In this area I have found zero multifamily units for sale. We still have so much to learn about exactly what to look for to make the deals work. If the opportunity to flip presents itself we would be happy to take that route as well.

House hacking is not in our future. We're established in our home with two kids in college and 5 pets to take care of so the disruption right now would be too much. We have a sufficient line of credit and decent credit scores for refi purposes. 

As far as construction - I have done projects at my own homes from painting, installing electrical fixtures to laying hardwood floors so we probably have enough experience to handle the smaller issues and can easily pick up and learn what we don't know but would need to count on contractors for larger projects.