All Forum Posts by: Byron Scott

@Jennifer Z. Thanks for the info. The basement has bath kitchin and everything. Tax accessor recorded it as a triplex but appraiser could say different I guess. 

Is it normal for the person selling me the property to pay for the appraisal or should I pay? Because if it doesn't appraise to the value that was accepted then the purchase price could drop and they could not sell it to me for the appraised price. I could lose that money. Just want to know what usually happens. 

Hey BP, 

I am looking to buy a multifamily. I'm buying it FHA. It will be a house hack. The numbers look good but I have some concerns that could change things. Its a duplex with a basement. Making it a triplex but its labeled as a duplex. So I'm concerned about the appraisal. There are no triplexes in the area or duplexes with a basement. So will there be comps? Also, it has AC in the window from home depot. Will I have to provide a central area and heat? I'm in GA. Does anyone have experience with something like this happening? Any advice or help?

@Ned Carey It was built in 1994.

@Ned Carey Thanks for the advice. Property is in mild conditions. Nothing that needs to be fixed but thinks could be upgraded. Value 120-125k

Duplex C class rental Both 2 bed 1 bath Tenents are in place but are c class tenents and are month to month One rents for $575 and the other $600 Average rents are $650 Asking price 119k How much can I offer on this property to make it work?

@Peter Fennig thanks for the advice. I would like a year lease but if month to month is more common and easier I will go with it.

@Bjorn Ahlblad thanks for the advice. How do I go about finding out what's normal for the area?

I am looking to buy a duplex. The numbers are good if I can buy it at the right price. I won't overpay. However, the property currently has tenents that are month to month. Is this normal? Any suggestions on what I should do?

I'm looking to get into multi family but they are hard to find in my area. What are thoughts on building a duplex or triplex, or something like that? Is this something that can be profitable? How should I go about it.

Anyone know if or want to start a BP meet up in West metro Atlanta? If you know of a meet up close to the West out skirts of Atlanta let me know. I really need to be around other investors. Thanks!