All Forum Posts by: Chris Sukala

@Andrew Johnson very true. I figure as much to do so. I have an idea where it is located but would like to get a true address since there are quite a few in the area he gave me. 

@Jonathan Twombly I will definitely email you. been busy at work and trying to finish up our duplex. 

I appreciate your feedbacks. 

Good evening all,

We recently purchased a duplex and rehabbing that ask we speak.

but a friend of mine contacted me and asked if I would be interested in his uncles Multifamily before goes to realtor. Could be way out of my price range but if not what should I ask him.

So far I got;

How many units?

Location?

Expenses?

Income?

any management on staff?

Any updates?

I guess I could ask if he would owner finance. If he would do that, then this is more questions I would need to know about. Like what interest rate is a norm, How much down payment would be expected.

Thanks for any feed back

Good morning all, Friend of mine contacted me and ask if I wanted to buy a multi family. He wasn't for sure how many units. Uncle is getting out of it after 30 years. What should I ask for. Is there something specific. Income statement Expense statement Just want to make sure I have all my T's crossed and I's dotted. Evening hoping he would owner finance. If he does. What's a good percentage down I should give him and what interest rate. Thanks

Hello all, haven't been on for awhile. We bought 2 SFR And a duplex end of last year. Here is a question for you. What does a accountant mean when she says you need to learning how to move your money? I just went to my accountant and she is a very smart individual she has lots of properties around us and in other states. She owns a farm and businesses down south. Of course I have to pay the piper this year because of our w2s and our rentals moved us into another tax bracket. She kept referring to I need to learn how to move my money. I have to go back and write her a check and I'll ask again but I just am naive in what she means. Does anyone have an idea what she means?

Hello all, Not sure if this is the right forum feed. I haven't been on for awhile, which is good for me. We bought 2 SFR And a duplex end of last year. Here is a question for you. What does a accountant mean when she says you need to learning how to move your money? I just went to my accountant and she is a very smart individual she has lots of properties around us and in other states. She owns a farm and businesses down south. Of course I have to pay the piper this year because of our w2s and our rentals moved us into another tax bracket. She kept referring to I need to learn how to move my money. I have to go back and write her a check and I'll ask again but I just am naive in what she means. Does anyone have an idea what she means?

@Craig Wilcox sorry I can't make it, they changed my schedule until end of February so after that hopefully then we can attend. I'll tell Evelyn about it

Looking for an APP or program which allows me to file receipts by taking a snapshot, then adding the amount, say like a check deposit from bank on your mobile device. Then this amount would be added to a project file I choose. So i can keep tally on how much a REHAB actually costs versus my estimate. I hope I am making sense. Anyone have any ideas. Thanks

Zachary C. We actually just signed up yesterday to start using them. We have 6 doors right now and wanting to expand. I want something all in one where I can receive ACHs and send out my bills to vendors. This seems to have what I am looking for. If you pay in full you receive 10% off. So we paid about 480ish for the year. I'll let you know how it goes when we start setting it up.

@DeMarrius Payne, Ok we have done it both ways this year. I have a loan out on my 401K and yes about 7% interest. In my case they don't take out weekly only monthly so that stinks. Second I thought I could pay more per month if I wanted to, this is not the case. Either I pay the monthly payment or pay it all at once, no extra. I took about 23k for 3yrs, which equates to about 678.00 a month on loan, Huge chunk. I would definitely go longer if you go this route, I wasn't thinking. I also cashed out another 401K I had, my thought process was I would use what I needed then, refi and get money back within 60 days and roll back over. Of course this didn't happen. We purchased a Duplex, a 3bed SFR in A class neighbor and bought a 2 bedroom SFR in a B-C area. We used a rehab loan on our A class but unfortunately we didn't foresee issues that we needed more of that cash out money and didn't get it done and the equity put back into my 401.

I will see what kinda of hit I take on my 401K of about 50k come tax time. I think I may prefer just cashing out and putting all my old 401k's in real estate.

My question is, has anyone done a all inclusive rental. My wife has a coworker who would like to rent our upper duplex but she prefers everything in our name. Minus cable. Any thoughts? Was thinking maybe a fixed rate on utilities and if you exceed A specific amount and she pays differences.