All Forum Posts by: Chadi D.

let's know how that goes . Are you doing this with the help of a lawyer ?

It was more ignorance than negligence. They asked the owner and he admitted that he knew about the situation. The problem he didn't know the implications of that . The lesson is always educate yourself about what you are doing !!

First , I am not sure if you are a pro member . If so then plug all the numbers on the investment analysis and see what it tells you . It doesn't lie believe me . Though just from glancing what you put it seems a good investment and meet the rules.

Second , trust but verify . Take a look at all the leases , utility bills , verify that tenants are paying and other stuff ...

I went to see a fourplex that I was interested in and the numbers looked good . I went into one of the units and it looked like human trafficking . There were 7-8 people (looked like illegal immigrants)in the living room.I suspect that they were not visitors . On top of that I think that the owner pays the utilities .

I recommend Gallinelli book (what every investor should know about cash flow). It focuses on the above 2 principles , numbers and due diligence .

Good luck.

I just heard a story from a RE agent that I felt I need to share it here . It states that one of section 8 landlords ended up in jail for fraud . What happened was that the boyfriend of one of the tenants was sleeping over few times a week . During which he parked his BMW overnight . Probably that what drew the attention . I am not sure if the owner was aware or not . The rules state that he should have reported the incidents .

If anyone have some experience or knowledge please share !

I wonder how this will affect home prices if it becomes commercial technology !! Amazing .

Why don't you post the analysis here and see who responds ?

Thanks a lot Aaron for your time . I like to be very consrvative in my estimates . I will edit the analysis and see how it looks then .
My plan is to check with multiple lenders to see which would give the best rate . I am planning to do managment myself to start , but it is good to account for that ahead of time .
Thanks .

I think you might need the book by Frank Gallineli (what every real estate investor needs to know about cashflow) . It doesn't only give the acronyms and terms but also gives you their significance and how to calculate them .. I think it is a must read and have book . Or if you want to save money then just read a lot of the information that is here on BP . You will learn all the terms . Hope that helps .

Thanks for the input . It seems that doing due diligence on the HOA is as more important than doing it on the property itself !!

welcome to BP