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All Forum Posts by: Chris Murdien

Chris Murdien has started 8 posts and replied 38 times.

@Steve Hall thanks Steve.

Is anybody else able to help me determine if this is a good deal or not? I have the sellers financial information, rent roll, expenses etc.

With this being a new season of investing into apartments for me, I want to make sure $20k non-refundable earnest money from day 1 of the effective date is a wise move.

I know as the due diligence process moves forward, the asking price is always negotiable, at the same time, with the seller already showing she's a firm negotiator, I would hate to lose $20k because she don't want to budge on price when the lender and/or bullcrap turns up during due diligence.

@Steve Hall I was thinking @Nick Rutkowski asked to calculate price per door. If you know your market, PPD could be a great way to see if the asking price is too high.

I don't believe the seller(s) view me as a tire kicker; she rejected all offers if they didn't agree to non-refundable earnest $. What the seller is doing is just negotiating based on how she purchased the apartments. No due diligence with non-refundable earnest money.

With her being from California, I told her "we don't do that in Texas."

The seller and I talked about soft vs hard; she's either hiding something or she needs the $.

@Nick Rutkowski 5.3m

Hello BP Investors.

I came across someone selling their 92 unit apartment here just outside of Houston. The seller and I are at a standstill on negotiating (she wants non-refundable earnest money), so I could use experienced apartment investors to help me analyze this deal to see if its worth putting up the earnest money to get this under contract. #help!

Post: Living in San Diego, investing out of state for cash flow

Chris MurdienPosted
  • Rental Property Investor
  • Posts 41
  • Votes 13

@Sarah Vance One of my buddys is sellee over 20 properties in Savannah, would you like to learn more? Share your email if you would.

Post: Living in San Diego, investing out of state for cash flow

Chris MurdienPosted
  • Rental Property Investor
  • Posts 41
  • Votes 13

@Christine Lawrence hi Christine,

I have several apartment (48 units, all the way down to 2 unit apartments) available in Texas.

Are you looking to invest in Texas?

Post: IAH Short Term Rental

Chris MurdienPosted
  • Rental Property Investor
  • Posts 41
  • Votes 13

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $107,500
Cash invested: $12,000

IAH Short Term Rental

What made you interested in investing in this type of deal?

After getting exposed to renting beds vs renting single family homes, I set a goal to start invest in a single family home to rent out beds.

How did you find this deal and how did you negotiate it?

Real Estate agent. Nothing fancy, just a regular TREC purchase.

How did you finance this deal?

Conventional w 3.5% down

How did you add value to the deal?

Furnished the house with furniture and decor.

What was the outcome?

FREEDOM! This was the start to allowing me to get "fired" from a job in 2016 and have a cushion under me before they knocked me down.

Lessons learned? Challenges?

Its more lucrative to rent out the whole house as a short term rental.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I did, but I wouldn't recommend them.

Post: 4 Humble Condo Units

Chris MurdienPosted
  • Rental Property Investor
  • Posts 41
  • Votes 13

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $1,600
Cash invested: $8,000

Four 1 bed, 1 bath condo units

What made you interested in investing in this type of deal?

It was a friend who was distressed

How did you find this deal and how did you negotiate it?

It was brought to my attention; it was given to me.

How did you finance this deal?

Credit card

How did you add value to the deal?

Fixed up each unit as it became vacant and rented it out.

What was the outcome?

Good cash flow, decent tenants; 75%+ equity in each unit.

Lessons learned? Challenges?

HOA property managers power trip

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I recommend having an attorney on deck. The previous property manager and the new property manager tried to get me to pay for $3700 gate damage. This is in addition to the previous property manager stealing rent and depositing the tenants deposits into the condos HOA without my permission.

anyways, click the link below to get your legal shield account if you're planning to invest in real estate.
https://checkout.legalshield.com/?associate=128770906

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